diff --git a/modules/accounts_state/src/rewards.rs b/modules/accounts_state/src/rewards.rs
index 6daaaa0d..484ad119 100644
--- a/modules/accounts_state/src/rewards.rs
+++ b/modules/accounts_state/src/rewards.rs
@@ -14,7 +14,7 @@ use std::sync::Arc;
 use tracing::{debug, info, warn};
 
 /// Type of reward being given
-#[derive(Debug, Clone)]
+#[derive(Debug, Clone, PartialEq)]
 pub enum RewardType {
     Leader,
     Member,
@@ -34,7 +34,7 @@ pub struct RewardDetail {
 }
 
 /// Result of a rewards calculation
-#[derive(Debug, Default)]
+#[derive(Debug, Default, Clone)]
 pub struct RewardsResult {
     /// Epoch these rewards were earned in (when blocks produced)
     pub epoch: u64,
diff --git a/modules/accounts_state/src/state.rs b/modules/accounts_state/src/state.rs
index db15508d..85034d35 100644
--- a/modules/accounts_state/src/state.rs
+++ b/modules/accounts_state/src/state.rs
@@ -1,6 +1,6 @@
 //! Acropolis AccountsState: State storage
 use crate::monetary::calculate_monetary_change;
-use crate::rewards::{calculate_rewards, RewardsResult};
+use crate::rewards::{calculate_rewards, RewardType, RewardsResult};
 use crate::snapshot::Snapshot;
 use crate::verifier::Verifier;
 use acropolis_common::queries::accounts::OptimalPoolSizing;
@@ -657,36 +657,52 @@ impl State {
 
         // If rewards have been calculated, save the results
         if let Some(task) = task.take() {
-            if let Ok(Ok(reward_result)) = task.await {
-                // Collect rewards to stake addresses reward deltas
-                for rewards in reward_result.rewards.values() {
-                    reward_deltas.extend(
-                        rewards
-                            .iter()
-                            .map(|reward| StakeRewardDelta {
-                                stake_address: reward.account.clone(),
-                                delta: reward.amount as i64,
-                            })
-                            .collect::<Vec<_>>(),
-                    );
-                }
-
-                // Verify them
-                verifier.verify_rewards(reward_result.epoch, &reward_result);
-
+            if let Ok(Ok(rewards_result)) = task.await {
                 // Pay the rewards
                 let mut stake_addresses = self.stake_addresses.lock().unwrap();
-                for (_, rewards) in reward_result.rewards {
+                let mut filtered_rewards_result = rewards_result.clone();
+                for (spo, rewards) in rewards_result.rewards {
                     for reward in rewards {
-                        stake_addresses.add_to_reward(&reward.account, reward.amount);
+                        if stake_addresses.is_registered(&reward.account) {
+                            stake_addresses.add_to_reward(&reward.account, reward.amount);
+                            reward_deltas.push(StakeRewardDelta {
+                                stake_address: reward.account.clone(),
+                                delta: reward.amount as i64,
+                            });
+                        } else {
+                            warn!(
+                                "Reward account {} deregistered - paying reward {} to treasury",
+                                reward.account, reward.amount
+                            );
+                            self.pots.treasury += reward.amount;
+
+                            // Remove from filtered version for comparison and result
+                            if let Some(rewards) = filtered_rewards_result.rewards.get_mut(&spo) {
+                                rewards.retain(|r| r.account != reward.account);
+                            }
+
+                            if let Some((_, spor)) = filtered_rewards_result
+                                .spo_rewards
+                                .iter_mut()
+                                .find(|(fspo, _)| *fspo == spo)
+                            {
+                                spor.total_rewards -= reward.amount;
+                                if reward.rtype == RewardType::Leader {
+                                    spor.operator_rewards -= reward.amount;
+                                }
+                            }
+                        }
                     }
                 }
 
+                // Verify them
+                verifier.verify_rewards(&filtered_rewards_result);
+
                 // save SPO rewards
-                spo_rewards = reward_result.spo_rewards.into_iter().collect();
+                spo_rewards = filtered_rewards_result.spo_rewards.clone();
 
                 // Adjust the reserves for next time with amount actually paid
-                self.pots.reserves -= reward_result.total_paid;
+                self.pots.reserves -= rewards_result.total_paid;
             }
         };
 
diff --git a/modules/accounts_state/src/verifier.rs b/modules/accounts_state/src/verifier.rs
index f34924af..4f4784d4 100644
--- a/modules/accounts_state/src/verifier.rs
+++ b/modules/accounts_state/src/verifier.rs
@@ -119,7 +119,8 @@ impl Verifier {
     }
 
     /// Verify rewards, logging any errors
-    pub fn verify_rewards(&self, epoch: u64, rewards: &RewardsResult) {
+    pub fn verify_rewards(&self, rewards: &RewardsResult) {
+        let epoch = rewards.epoch;
         if let Some(template) = &self.rewards_file_template {
             let path = template.replace("{}", &epoch.to_string());