I’ve been an advisor for 25 yrs, large clientele. I have worked for some of the biggest banks and brokers in my career. I have never seen or heard of anyone paying this fine
In fact, the law changed as well. Now it must be willful
Most freepers know as much about finance as I know about farming on mars.
Does not paying the fine cause the penalty to grow ?
Fake news! I KNEW it!
I know two now-retired former co-workers who failed to take the appropriate RMD, out of ignorance not willful evasion. They both received a stern letter from the IRS that got their full attention. So, you’re correct, most likely very few people ever pay the penalty since the IRS gives them a window of opportunity to comply.