[Code of Federal Regulations] [Title 26, Volume 18] [Revised as of April 1, 2004] From the U.S. Government Printing Office via GPO Access [CITE: 26CFR301.6690-1] [Page 424] TITLE 26--INTERNAL REVENUE CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) PART 301_PROCEDURE AND ADMINISTRATION--Table of Contents Additions to the Tax, Additional Amounts, and Assessable Penalties Sec. 301.6690-1 Penalty for fraudulent statement or failure to furnish statement to plan participant. (a) Penalty. Any plan administrator required by section 6057(e) and Sec. 301.6057-1(e) to furnish a statement of deferred vested retirement benefit to a plan participant is subject to a penalty of $50 in each case in which the administrator (1) willfully fails to furnish the statement to the participant in the manner, at the time, and showing the information required by section 6057(e) and Sec. 301.6057-1(e), or (2) willfully furnishes a false or fraudulent statement to the participant. The penalty shall be assessed and collected in the same manner as the tax imposed on employers under the Federal Insurance Contributions Act. (b) Effective date. This section shall take effect on September 2, 1974. [T.D. 7561, 43 FR 38007, Aug. 25, 1978] [[Page 425]]