Texas Administrative Code › Title 34 - PUBLIC FINANCE › Part 5 - TEXAS COUNTY AND DISTRICT RETIREMENT SYSTEM › Chapter 107 - MISCELLANEOUS RULES › Section 107.6 - Penalty for Late Reporting; Waiver of Penalty

Current through Reg. 49, No. 28; July 12, 2024
(a)
				In this section "report" means the combination of all information and
				contributions required to be provided to and deposited with the system for each
				month of participation, in accordance with Chapter 845, Subchapter E,
				Government Code.
(b) A due date of
				a monthly report that is a Saturday, Sunday, or legal holiday is extended to
				the first day that is not a Saturday, Sunday, or legal holiday, but the dates
				provided by §845.407(c) for eligibility for an exemption from a penalty
				assessment are not extended if they fall on a Saturday, Sunday, or legal
				holiday. The penalty for a past-due report consists of an administrative fee in
				the amount provided by §
									845.407(a),
				Government Code, plus interest on the past-due amounts for each day past due
				computed at an annual rate provided by that subsection.
(c) If a report is past due, the system shall
				notify each member of the county commissioners' court or the chief employee of
				the subdivision stating the due date of the report, that the report was not
				received by the due date, that unless the subdivision submits proof
				satisfactory to the system that the report was sent in compliance with §
									845.407(c),
				Government Code, the subdivision is subject to a penalty for late reporting in
				accordance with §
									845.407(a),
				Government Code, and that the amount of the penalty will be computed and
				assessed on receipt of the report. If applicable, the notice shall also state
				that the subdivision is eligible for a waiver of the late reporting penalty
				under subsection (g) of this section.
(d) After the system receives the past-due
				report, a notice shall be mailed to each member of the county commissioners'
				court or the chief employee of the subdivision stating that a penalty has been
				assessed for late reporting in accordance with §
									845.407,
				Government Code, and indicating the date the report was received by the system,
				the number of days the report was past due, the amount of contributions on
				which interest was charged, the accumulated interest and the administrative
				fee. The notice shall inform each member of the county commissioners' court or
				the chief employee that if the penalty is not paid within the period provided
				by §
									845.407(a),
				Government Code, the penalty shall be deducted from the subdivision's account
				in the Subdivision Accumulation Fund and credited to other funds of the system
				in accordance with that subsection.
(e) The amount of the penalty stated in the
				notice described by subsection (d) of this section becomes fixed and final on
				the tenth business day following the date of the notice and may not be modified
				thereafter for any reason.
(f) For
				purposes of §
									845.407,
				Government Code, approved same-day or overnight delivery services are:
(1) Federal Express;
(2) United Parcel Service;
(3) Lone Star Overnight;
(4) United States Postal Service;
				and
(5) any other delivery service
				that provides same-day or overnight delivery accompanied by written proof of
				the date of mailing by the subdivision.