40. Question: How should a closed account be reported that has an outstanding balance?

Answer:
For Revolving, Open and Line of Credit accounts only, report the following

1. Portfolio Type = R (Revolving), O (Open) or C (Line of Credit) depending on the terms
   
2. Credit Limit = report last assigned credit limit
3. Account Status Code = 11, 71, 78, 80, 82-84, 93 or 97, as applicable
4. Special Comment Code = M, if account closed by credit grantor
5. OR Compliance Condition Code = if account closed at consumer’s request, report the appropriate code XA, XD, XE or XJ Important Note: Do not report an account as closed by credit grantor and closed at consumer’s request. Only one closed code can apply.
6. Current Balance = the outstanding balance amount as of the Date of Account Information
7. Amount Past Due = required when the Account Status Code is 71, 78, 80, 82-84
8. Date Closed = the date the account was closed