Fermion-monopole system reexamined. III

A detailed derivation is presented for the fermion-monopole Hamiltonian, paying particular attention to the physical significance of various surface terms. The version of the s-wave Hamiltonian given by Callan is found to require amendment for the case of massive fermions. We also note that the dyon (rotor) degree of freedom cannot be interpreted as a localized charge, but should rather be regarded as a charge on a capacitor