Liability to a penalty under article (5) does not arise if the Reporting Financial Institution satisfies the Authority that there is a reasonable excuse for the failure;
Neither of the following is a reasonable excuse:
a. that there is an insufficiency of funds to do something, or
b. that a person relies upon another person to do something.
If a Reporting Financial Institution had a reasonable excuse for a failure but the excuse has ceased, the Reporting Financial Institution is to be treated as having continued to have the excuse if the failure is remedied without unreasonable delay after the excuse ceased.