Penalties

Question 1

the person did not know and was exercising reasonable diligence

$100 per violation up to $25,000 per calendar year

Answer 1

Tier 1

Question 2

the breach was due to reasonable cause but not willful neglect

$1,000 per violation up to $100,000 per calendar year

Answer 2

Tier 2

Question 3

willful neglect that was ultimately corrected

$10,000 per violation up to $250,000 per calendar year

Answer 3

Tier 3

Question 4

willful neglect that was to ultimately corrected

$50,000 per violation up to $1,500,000 per calendar year

Answer 4

Tier 4