To apply for a waiver for §6038 penalty based on reasonable cause, read this IRS article, which relies upon §1.6038-2(k)(3): https://www.irs.gov/businesses/corporations/forms-5471-automatic-assessment-of-penalties-under-irc-s...

You may also refer to See Flume v. Commissioner, T.C. Memo. 2017-21 for how the Court interprets the law and regulation.