Interest on late loan payments

[richard]

What is typically done when a participant continues to make quarterly loan payments 60-75 days late?

Assuming the plan document, loan policy and loan document/promissory note are silent on this, is it typical to charge (i.e., accrue) additional interest during the delinquent period? If so, is this accrued interest added to the loan principal resulting in a larger level amortization payment or does it extend the amortization period (assuming the period was originally under 5 years).

Does it make a difference if the plan covers only the owner of the business (so the investment returns on these additional loan interest payments would be tax deferred)?

Thanks