(a) Penalty for failure to submit reports.— In the event that the special corporation fails to furnish to any of its members the report required under § 30251(b) of this title on the date prescribed, taking any time extension granted into account, unless it is shown that such omission is due to a reasonable cause, it shall pay a penalty of one thousand dollars ($1,000) for each report not furnished. The total amount of this penalty shall not exceed four thousand dollars ($4,000) for each taxable year.(b) Penalty for failure to include correct information.— In the event that the special corporation furnishes its stockholders the report required in § 30251(b) of this title but fails to include all the information required, or includes incorrect information, unless it is shown that such omission or error is due to a reasonable cause, it shall pay five hundred dollars ($500) for each report in which the omission or error is present. The amount of this penalty shall not exceed fifty thousand dollars ($50,000) for each taxable year. History —Jan. 31, 2011, No. 1, § 6041.13, retroactive to Jan. 1, 2011; Dec. 10, 2011, No. 232, § 164.