Code 340: restricted interest assessment imf:.
From IRS Document 6209, the IRS's processing codes manual.
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Document 6209 says
Debit. Used on individual (IMF) accounts.
Restricted Interest Assessment IMF:
The full Document 6209 entry, as printed
Debit (NPJ) I/B Restricted Interest Assessment IMF: 11, 12, 21, 22, 47 51, 54 IRAF/BMF: 47, 54 Restricted interest which must be manually computed. IMF/BMF. CAUTION: After posting, interest is not computed or abated by computer for the applicable Tax Module and assessed interest thereafter must be computed manually and input with a TC 340 or 341. TC 34X inputs posting after 010195 will allow the accruals of interest to be non-restricted from the “Interest-To- Date” with an “Interest-Comp-Amount” input using AMCLS or ADJ54 unless reference number 221 or 222 is included with the action. IMF: TC 150 with Condition Code Z generates TC 340 for zero amount, turns on debit restricted interest indicator and restricted FTP penalty indicator. TC 500 generates TC 340.
After code 340
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Questions people ask
What does code 340 mean on my IRS transcript?
Document 6209 calls it "Restricted Interest Assessment IMF:".
Sources
Checked against these sources on October 30, 2026.