7 Colo. Code Regs. § 1107-6.4

Current through Register Vol. 47, No. 24, December 25, 2024

Section 7 CCR 1107-6.4 - Premium Underpayments, Fines, and Interest

1. An employer or individual electing coverage shall be liable for a premium underpayment. Circumstances giving rise to a premium underpayment include, but are not limited to a(n):

A. Mistake in billing by the Division caused by a technical error;

B. Employer who has incorrectly identified employees localized in Colorado, underreported the number of employees they have, misclassified employees as non-employees, or failed to register with FAMLI and pay premiums; or

C. Individual electing coverage who has underreported their income or has failed to report their income.

2. A fine may be imposed for any violation, including a failure to undertake an action specifically required by the Act and its implementing rules, or by engaging in any activity specifically prohibited by the Act and its implementing rules.

3. Premium underpayments are identified through any lawful means including Division audits, investigations, and external tips.

4. The Division will notify an individual electing coverage or employer of any determination of premium underpayment or fine by sending a determination letter to the individual electing coverage or employer's correct address.

5. The party may appeal a determination of premium underpayment or fine pursuant to 7 CCR 1107-9.

6. Any outstanding premium underpayment fine or interest owed to the Fund by the party is subject to recovery pursuant to 7 CCR 1107-8, Section 8.8.

7. Any outstanding balance past due shall accrue interest pursuant to 7 CCR 1107-8, Section 8.9.

8. At its discretion, the Division may waive, in whole or in part, any fine or interest owed to the Fund where such recovery would be against equity and good conscience.

7 CCR 1107-6.4

46 CR 12, June 25, 2023, effective 7/15/2023

46 CR 23, December 10, 2023, effective 1/1/2024

47 CR 23, December 10, 2024, effective 1/1/2025