Interest and penalties

(a) A holder who fails to report, pay, or deliver property within the time prescribed by this part shall pay to the administrator interest at the annual rate of two percentage points above the annual rate of discount in effect on the date the property should have been paid or delivered for the most recent issue of fifty-two-week United States Treasury bills on the property or value thereof from the date the property should have been reported, paid, or delivered. (b) Except as otherwise provided in subsection (c), a holder who fails to report, pay, or deliver property within the time prescribed by this part, or fails to perform other duties imposed by this part, shall pay to the administrator, in addition to interest as provided in subsection (a), a civil penalty of $200 for each day the report, payment, or delivery is withheld, or the duty is not performed, up to a maximum of $5,000. (c) A holder who wilfully fails to report, pay, or deliver property within the time prescribed by this part, or wilfully fails to perform other duties imposed by this part, shall pay to the administrator, in addition to interest as provided in subsection (a), a civil penalty of $1,000 for each day the report, payment, or delivery is withheld, or the duty is not performed, up to a maximum of $25,000, plus twenty-five per cent of the value of any property that should have been but was not reported. (d) A holder who makes a fraudulent report shall pay to the administrator, in addition to interest as provided in subsection (a), a civil penalty of $1,000 for each day from the date a report under this part was due, up to a maximum of $25,000, plus twenty-five per cent of the value of any property that should have been but was not reported. (e) The administrator for good cause may waive, in whole or in part, interest under subsection (a) and penalties under subsections (b) and (c), and shall waive penalties if the holder acted in good faith and without negligence.