26 U.S.C. § 6725 - U.S. Code - Unannotated Title 26. Internal Revenue Code § 6725. Failure to report information under section 4101

(a) In general.--In the case of each failure described in subsection (b) by any person with respect to a vessel or facility, such person shall pay a penalty of $10,000 in addition to the tax (if any).

(b) Failures subject to penalty.--For purposes of subsection (a), the failures described in this subsection are--

(c) Reasonable cause exception.--No penalty shall be imposed under this section with respect to any failure if it is shown that such failure is due to reasonable cause.