The annual report shall be maintained on a calendar year basis and shall be filed with the state engineer no later than March 31 for the preceding calendar year. If a permittee fails to file an annual report by the deadline established on the permit, the state engineer may assess and impose a penalty of Five Hundred Dollars ($500) for each month or portion of a month that the report is not filed. The total penalty assessed annually pursuant to this subsection shall not exceed Five Thousand Dollars ($5,000).
N.M. Admin. Code § 19.25.8.34