What is the penalty for non-submission of a FAS?

No fines are currently prescribed for non-submission of FASs, but it depends on the merits of the case

If e.g. no accounting records were kept, fine may be issued

Disclaimer:

Please note that the information provided does not constitute legal or professional advice, but rather the applicability of existing theory to a given practical situation. Due care is taken to ensure that the information is correct, but it remains subjective and an interpretation of application of information.