What is the maximum penalty for filing an Annual Audit Report late?

The maximum penalty for filing an Annual Audit Report late is a $400 fine per month. This regulation serves as an enforcement mechanism to encourage compliance among cemetery managers regarding the timely submission of necessary financial documentation. The fine is structured to be significant enough to motivate cemetery operators to adhere to deadlines, ensuring transparency and accountability in their operations.

This amount also reflects the seriousness of maintaining proper records and fulfilling reporting obligations, as it helps safeguard the interests of stakeholders and the public. Adhering to reporting timelines allows regulatory bodies to monitor the financial health and ethical management of cemeteries, which is essential in the industry.

While other options suggest varying penalty amounts, only the $400 fine aligns with the established regulations regarding late audits, underscoring the importance of timely reporting in the cemetery management profession.