Liquidated damages are assessed on late contribution reports at 10% of total unpaid contributions, or $200.00, whichever is greater. If the delinquency goes to legal, the liquidated damages will increase to 20%. Interest is assessed at 7%.
Liquidated damages are assessed on late contribution reports at 10% of total unpaid contributions, or $200.00, whichever is greater. If the delinquency goes to legal, the liquidated damages will increase to 20%. Interest is assessed at 7%.