The penalty for the late filing of a talent release form can vary depending on the specific circumstances and the governing laws and regulations in the jurisdiction. In some cases, there may not be a specific penalty for late filing, but it could result in the cancellation or rejection of the project the talent release form relates to. Some potential consequences of late filing could include financial penalties, legal action, or loss of rights and permissions related to the project. It is advisable to consult with a legal professional or research the specific laws and regulations applicable to your situation to determine the exact penalties for late filing of a talent release form.