# The International Tax Compliance Regulations 2015, Regulation 22E: Penalties for failure to provide notification to individual reportable persons


If a reporting financial institution or UK representative fails to comply with regulation 10 (notification to individual reportable persons), the reporting financial institution or UK representative is liable—
(a) to a penalty not exceeding £100 for each reportable person in respect of which one or more failures have occurred, and
(b) if any of the failures continue after notice of an assessment of a penalty under paragraph (a) is issued, to a penalty or penalties not exceeding £100 for each subsequent day on which any of the failures continue.

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Source: https://www.legislation.gov.uk/uksi/2015/878/regulation/22E (the official version)
Page: https://openlegislation.uk/international-tax-compliance-regulations-2015/regulation-22E
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.