What is the fine for late annual reports capped at?

The fine for late annual reports in the context of workers' compensation and self-insurance practices is capped at $1,500. This cap is intended to encourage timely submission of required documentation, which is crucial for maintaining compliance with regulations and ensuring the smooth operation of self-insured programs.

The determination of a cap for late fees reflects an understanding of the need to balance enforcement with the realities that can lead to delays in reporting. It also serves to deter late submissions without imposing excessively punitive measures that could burden organizations.