Employers are required to report any failures to meet minimum funding standards or pay required contributions on Schedule D of Form 5330. The tax due is calculated based on the amount of the shortfall and the applicable rate. Employers must also report any failures to pay liquidity shortfalls on Schedule E of Form 5330. The tax due for liquidity shortfalls is calculated based on the amount of the shortfall and the applicable rate. It is crucial for employers to maintain adequate funding levels and address any shortfalls promptly to avoid potential tax consequences.