Failure to file certain information returns

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In case of each failure to file a statement of a payment to another person, required under authority of section 741 of this title (relating to information at source), section 742 of this title (relating to payments of corporate dividends), section 744 of this title (relating to patronage dividends), or section 745 of this title (relating to returns of brokers), unless it is shown that such failure is due to reasonable cause and not to willful neglect, there shall be paid by the person failing to file the statement, upon notice and demand by the Director and in the same manner as tax, $1 for each such statement not filed, but the total amount imposed on the delinquent person for all such failures during any calendar year shall not exceed $1,000.


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