| Form | Penalty*† | Penalty Citation | Obligation to File Citation |
|---|---|---|---|
| FBAR - FinCEN Form 114 (Formerly TD F 90-22.1) |
Non-willful violation: $13,481 (inflation adjusted) Willful violation: Greater of $134,806 (inflation adjusted) or 50% of the account balance at time of violation |
Non-willful: 31 USC §5321(a)(5)(B)(i) Willful: 31 USC §§5321(a)(5)(C)–(D) |
CFR §1010.350(a) |
| 926 | 10% of the fair market value of the transferred property at the time of the transfer, but not to exceed $100,000 unless the failure with respect to such transfer was due to intentional disregard | Code §6038B(c) | Code §6038B |
| 1040NR / 1120-F | Disallowance of deductions | Code §§874(a), 882(c)(2) | Code §6012 |
| 1042 | 5% of the unpaid tax for each month or part of a month the return is late, up to a maximum of 25% of the unpaid tax | Code §6651(a)(1) | Code §6011 |
| 1042-S | $30 to $100 per form, depending on how late the form is filed. If intentionally disregarded, $250 per form or, if greater, 10% of the total amount of items required to be reported. |
Code §6722 | Treas. Reg. §1.1461-1(c) |
| 1116 | 5% per month (maximum 25%) of the tax deficiency attributable to a foreign tax redetermination | Code §6689 | Code §905(c)(1) |
| 3520 Part I | Greater of $10,000 or 35% of gross reportable amount | Code §6677(a), (c)(1) | Code §6048(a)(3) |
| 3520 Part II | Greater of $10,000 or 5% of gross reportable amount | Code §6677(a), (b), (c)(2) | Code §6048(b) |
| 3520 Part III | Greater of $10,000 or 35% of gross reportable amount | Code §6677(a), (c)(3) | Code §6048(c) |
| 3520 Part IV | 5% per month (25% maximum) of the gift or bequest for each month of failure to report | Code §6039F(c)(1) | Code §6039F |
| 3520-A | Greater of $10,000 or 5% of gross reportable amount | Code §6677(a), (b), (c)(2) | Code §6048(b) |
| 5074 | $1,000 | Code §6688 | Code §937(c) |
| 5471 Category 2 & 3 Filers | $10,000 | Code §6679(a) | Code §6046 |
| 5471 Category 4 & 5 Filers | $10,000 | Code §6038(b) | Code §6038(a) |
| 5472 | $25,000 | Code §§6038A(d), 6038C(c) | Code §§6038A, 6038C |
| 5713 | $25,000 | Code §999(f) | Code §999(a) |
| 8621 | None | N/A | Code §§6011 & 1298(f), Notice 2011-55, Prop. Reg. §1.1291-1(i) |
| 8833 | $1,000 ($10,000 for C Corp) | Code §6712 | Code §6114 |
| 8854 | $10,000 | Code §6039G(c) | Code §6039G(a) |
| 8858 | Technically no penalty, but IRS may view the associated Form 5471, Form 8865, or tax return, as the case may be, as incomplete (and triggering associated penalties) if Form 8858 is not filled out properly | N/A | Code §6011 |
| 8865 Category 1 & 2 Filers | $10,000 | Code §6038(b) | Code §6038 |
| 8865 Category 3 Filers | 10% of FMV of contribution | Code §6038B(c) | Code §6038B |
| 8865 Category 4 Filers | $10,000 | Code §6679(a) | Code §6046A |
| 8898 | $1,000 | Code §6688 | Code §937(c) |
| 8938 | $10,000 | Code §6038D(d) | Code §6038D |
| 8992 | $10,000 | Treas. Reg. §1.6038-5(c) | Treas. Reg. §1.6038-5(a) |
* The penalties are generally assessed for each failure to file the requisite form. For example, a failure to file Form 5471 for a single entity for three years (or for three entities for a single year) may trigger a $30,000 penalty.
† The penalties in the chart are the general civil penalties. Consult the Code for a complete assessment of applicable penalties. Other penalties may include, inter alia, denial of credits or deductions, loss of tax-free treatment of a transaction, and/or extension of the statute of limitations. Criminal penalties may also apply (see, for example, Code §7201, et. seq.).
Last updated on 10/09/20.