In my view, administrative monetary penalties are not an appropriate response to actual wrongdoing. That's somebody who is late filing all the time. So you're going to say, “Come on, stop it. We're going to charge you $500. Knock it off. File on time.”
But if you're talking about somebody who's actually trying to do an end run around the rules, $500 is not going to do anything. Also, if you're talking about someone who's actually meaningfully compliant and made a mistake, then $200 or $500 would not matter either. Like, what—
