(e), and (B) such employer provides the notice described in subsection (e) during the 30-day period beginning on the first date such employer knew, or exercising reasonable diligence would have known, that such failure existed. (3) Overall limitation for unintentional failures (A) In general If the employer subject to liability for tax under subsection (d) exercised reasonable diligence to meet the requirements of subsection (e), the tax imposed by subsection (a) for failures during the taxable year of the employer shall not exceed $500,000. (B) Taxable years in the case of certain controlled groups For purposes of this paragraph, if all persons who are treated as a single employer for purposes of this section do not have the same taxable year, the taxable years taken into account shall be determined under principles similar to the principles of section 1561. (4) Waiver by Secretary In the case of a failure which is due to reasonable cause and not to willful neglect, the Secretary may waive part or all of the tax imposed by subsection (a) to the extent that the payment of such tax would be excessive or otherwise inequitable relative to the failure involved. (d) Liability for tax The employer shall be liable for the tax imposed by subsection (a). (e) Employer requirements relating to MyRA accounts (1) In general An employer who pays wages to any employee through direct deposit shall make contributions through direct deposit to the MyRA account of the amount of wages designated by an employee who elects to participate in the MyRA program under section 3106(d) of title 31, United States Code. (2) Exception Paragraph (1) shall not apply to any employer with respect to an employee if the employer offers an employer-sponsored qualified retirement plan to the employee. (3) Notice requirement Each employer shall, in each paystub, provide a uniform notice to employees on how the employees can create a MyRA account. . (2) The table of sections for chapter 43 of such Code is amended by adding at the end the following new