Barrett, J., dissenting
the law 20 times. That the latter might face a higher penalty than the former is therefore beside the point. An actual apples-to-apples comparison shows that willful violators do face a much heavier fine: The maximum penalty for a single willful violation will always be at least 10 times greater than the maximum penalty for a single nonwillful violation. See §§5321(a)(5)(B)(i), (C)(i).
III
There is no denying that the Government opted to pursue a substantial penalty in this case: $10,000 for each of Bittner’s 272 alleged violations, for a total penalty of $2.72 million. Yet while the statutory scheme allows for substantial penalties, it also offers a safe haven. No penalty shall be imposed for a nonwillful violation of §5314 if (1) “such violation was due to reasonable cause” and (2) “the balance in the account at the time of the transaction was properly reported.” §5321(a)(5)(B)(ii).
Bittner raised this defense below, and the Government conceded that he satisfied its second prong by properly reporting the balances in his accounts on his late-filed FBARs. 19 F. 4th, at 740, and n. 2. But the District Court and Court of Appeals both roundly rejected Bittner’s argument that he had reasonable cause for failing to timely report his accounts. After evaluating the pertinent facts and circumstances, both courts concluded that Bittner “did not exercise ordinary business care and prudence in failing to fulfill his reporting obligations.” Id., at 742; see also 469 F. Supp. 3d 709, 729 (ED Tex. 2020). On the contrary, Bittner “put no effort into ascertaining” those obligations despite operating as a sophisticated business professional who held “interests in dozens of companies, negotiated purchases of Romanian government assets, transferred his assets into holding companies, and concealed his earnings in ‘numbered accounts.’ ” 19 F. 4th, at 742. Bittner abandoned his reasonable cause argument when he came to this Court,
