A penalty deduction is made from your benefits if—
You fail to make a required report on time (see §§ 416.708 and 416.714);
We must reduce, suspend, or terminate your benefits because of the event you have not reported;
You received and accepted an SSI benefit for the penalty period (see §§ 416.724 through 416.728 for penalty period definitions); and
You do not have good cause for not reporting on time (see § 416.732).
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