Section 416.724 - Amounts of penalty deductions(a)Amounts deducted. If we find that we must impose a penalty deduction, you will lose from your SSI benefits a total amount of- (1) $25 for a report overdue in the first penalty period;(2) $50 for a report overdue in the second penalty period; and(3) $100 for a report overdue in the third (or any following) penalty period.(b)Limit on number of penalties. Even though more than one required report is overdue from you at the end of a penalty period, we will limit the number of penalty deductions imposed to one penalty deduction for any one penalty period.