What are the penalties for filing Form 1120-POL late?

If you fail to file Form 1120-POL on time, the IRS charges an additional fine equal to 5% of the tax due for each month the return is late. This amount cannot exceed 25% of the total amount of tax due. If your Form 1120-POL is filed more than 60 days late, you're required to pay $135 or the remaining tax due, whichever is smaller.