The Board is developing a system by which employers can report payroll and pay assessments to the Board over the Internet. For the purpose of this project, the Panel of Administrators approved changes to policies relating to reporting and payments. These changes: • Increase from $500 to $1500 the threshold that determines whether an employer reports to the Board annually or quarterly, • Permit the use of non-paper forms of communication for the purpose of reporting, • Permit the acceptance of any form of recognized payment medium for paying assessments, • With respect to the initial penalty imposed for a failure to report or make payment on time, allow penalties in amounts less than the standard 8% of the amount due or unpaid, and • In cases where the standard initial penalty is not imposed, allow the monthly charge for continuing defaults to start from the time of the initial failure. These changes were effective January 1, 2003.