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What happens if we do not file this report?

FinCen will issue a penalty of $10,000 fine for intentionally not filing it and $250,000 to $500,000 for reporting incorrect information.

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Check your EIN confirmation letter (CP 575) first. If that is gone, look at a previously filed tax return, a business bank account application, or any 1099 you have issued. Your bank or your payroll provider will also have it on file.

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