RMD may, at RMD's option, bill any participant entity for the penalty imposed by RMD by the department of labor for an entities first late report in a fiscal year (Section 51-1-112A NMSA 1978). If the next quarter report is also late, RMD shall bill the entity for both late reports plus any additional late reports for the next quarters.
N.M. Admin. Code § 1.6.3.10