Section 10.64. Late reporting charges and interest.

 

(1)  Except as provided in s. ETF 10.63 (2) and (3) and this subsection, any report or remittance not received within the period specified in this chapter, ch. 40 , Stats. , or an insurance contract between the group insurance board and an insurance carrier shall be subject to the charges and interest calculated in accordance with the provisions of s. 40.06 , Stats. Reports and remittances required under ss. ETF 10.61 , 10.62 and 10.63 (1) (f) are not subject to the interest charges under s. 40.06 (5) , Stats.

(2)  The employer shall be responsible for and transmit to the department any assessment made against the state by the federal government for late payment of contributions due on any OASDHI adjustment report.

(3)  When interest is due under s. 40.06 (5) , Stats., and the effective rate for the current year is unavailable, the effective rate for the previous calendar year shall be used. The due date specified on the billing notice shall be the next regularly scheduled due date for regular payments specified under s. ETF 10.63 , ch. 40 , Stats. , or contracts between the group insurance board and any insurance carrier, but in no case less than 30 days from the date of the billing notice. When interest is due under s. 40.06 (3) , Stats., it shall be assessed on a daily basis from the billing notice due date to the date payment is actually received.

Renum. from ETF 4.02 (2) and am., Register, December, 1982, No. 324 , eff. 1-1-83; am. (1) and cr. (2), Register, August, 1984, No. 344 , eff. 9-1-84; am. (1) and cr. (3), Register, October, 1986, No. 370 , eff. 11-1-86.