Section 2765.67  Partial Waiver Of Interest Where An Employer Has Erroneously Reported Wages To The Wrong State

Where wages should have been reported to Illinois, but the employer has erroneously reported these wages to another state, if such employer makes payment of all contributions, penalties and interest (except the amount of interest that is subject to waiver under this Section) due within 30 days after the date that notice of its erroneous reporting is mailed to the employer, the Director shall waive interest to the extent that the amount of interest due exceeds the amount of interest that would have been due if the rate of interest imposed were the same as the rate of interest paid by the Secretary of Treasury on amounts held by the Secretary in the federal Unemployment Trust Fund during the same period.

Example:  Employer A erroneously reports the wages of certain workers on its Iowa Unemployment Insurance Contributions Reports.  It is determined that such wages should have been reported under the Illinois Unemployment Insurance Act. If this employer pays all contributions, penalties and interest due under the Illinois Act within 30 days after being notified of its erroneous reporting, the Director will waive any interest in excess of the amount of interest that would have been credited to Illinois if the employer's contributions had been credited to this State's account in the federal Unemployment Trust Fund as of the date that the contributions were due.

(Source:  Added at 16 Ill. Reg. 12165, effective July 20, 1992)