805), and (II) the amount of the debt. (b) Seller of Financial Intermediation Services For purposes of section 103(a), the seller of financial intermediation services shall be— (1) in the case of explicitly charged fees for financial intermediation services, the seller shall be the person who receives the gross payments for the charged financial intermediation services, (2) in the case of implicitly charged fees for financial intermediation services with respect to any underlying interest-bearing investment or account, the person making the interest payments on the interest-bearing investment or account, and (3) in the case of implicitly charged fees for financial intermediation services with respect to any interest-bearing debt, the person receiving the interest payments on the interest-bearing debt. 802. Bad debts (a) In General For purposes of section 205(a), a bad debt shall be a business debt that becomes wholly or partially worthless to the payee. (b) Business Loan For purposes of subsection (a), a business loan or debt is a bona fide loan or debt made for a business purpose that both parties intended be repaid. (c) Determination of Worthlessness (1) In general No loan or debt shall be considered wholly or partially worthless unless it has been in arrears for 180 days or more, except that if a debt is discharged wholly or partially in bankruptcy before 180 days has elapsed, then it shall be deemed wholly or partially worthless on the date of discharge. (2) Determination by holder A loan or debt that has been in arrears for 180 days or more may be deemed wholly or partially worthless by the holder unless a payment schedule has been entered into between the debtor and the lender. (d) Cross Reference See section 205(c) for tax on subsequent payments. 803. Timing of tax on financial intermediation services The tax on financial intermediation services provided by section 801 with respect to an underlying investment account or debt shall be imposed and collected with the same frequency that statements are