The Commissioner accepts wage reports filed by a State even though the applicable time limitation described in Sec. 404.1286 (or as the time limitation is extended under Sec. 404.1287) has expired, provided:
(a) The State pays to the Secretary of the Treasury the amount due on the wages paid to employees performing services in the coverage group in the calendar years for which the wage reports are being made; and
(b) The State agrees in writing with the Secretary to extend the time limitation for all employees in the coverage group in the calendar years for which the wage reports are being made. In this situation, the time period for assessment is extended until the Commissioner notifies the State that the wage reports are accepted. Where the State pays the amount due within the time period as extended under this section, the amount shall not include interest as provided for in section 218(j) of the Act as it read prior to the enactment of Pub. L. 99-509. [53 FR 32976, Aug. 29, 1988, as amended at 62 FR 38451, July 18, 1997] Secretary's Review of Decisions on Credits, Refunds, or Assessments--for
Wages Paid Prior to 1987