Once a project is complete, any residual funds (an unobligated, unspent balance) on fixed price awards must be handled.
When funds remain at the end of a fixed price sponsored project and those funds are no longer subject to the restrictions of the agreement, the Office of Research Administration will move the funds to a departmental account. Your departmental administrator should ensure that the project is complete and that costs are allocated correctly to the project before a transfer is initiated.
No-cost extensions will not be granted when the effort related to the project is complete and when the intent of the extension would be merely to spend residual funds by charging unrelated costs to the project.
Read the IU policy on Residual Income on Fixed Price Sponsored Programs