26 USC 9707 - Failure to pay premium

U.S Code last checked for updates: Jan 19, 2025

§ 9707.

Failure to pay premium

(a)

Failures to pay

(1)

Premiums for eligible beneficiaries

(2)

Contributions required under the mining laws

(b)

Amount of penalty

(c)

Noncompliance period

For purposes of this section, the term “noncompliance period” means, with respect to any failure to pay any premium or installment thereof, the period—

(1)

beginning on the due date for such premium or installment, and

(2)

ending on the date of payment of such premium or installment.

(d)

Limitations on amount of penalty

(1)

In general

(2)

Corrections

No penalty shall be imposed by subsection (a) on any failure if—

(A)

such failure was due to reasonable cause and not to willful neglect, and

(B)

such failure is corrected during the 30-day period beginning on the 1st date that any of the persons responsible for such failure knew, or exercising reasonable diligence would have known, that such failure existed.

(3)

Waiver

(e)

Liability for penalty

(f)

Treatment

(Added Pub. L. 102–486, title XIX, § 19143(a), Oct. 24, 1992, 106 Stat. 3050; amended Pub. L. 104–188, title I, § 1704(t)(65), Aug. 20, 1996, 110 Stat. 1890; Pub. L. 109–432, div. C, title II, § 213(b)(1), Dec. 20, 2006, 120 Stat. 3027.)

cite as: 26 USC 9707