Williams have been fined $25,000 (£20,000) for a breach of Formula 1’s cost cap regulations.
The team missed the 31 March 2022 deadline to submit its 2021 accounts and are the first to be punished under the cap since its introduction last year. Williams had informed rule makers of the problem ahead of time, the FIA said.
The cap has been reduced to $140m this year from $145m (£114m) in 2021. The cost cap was created to limit how much an F1 team can spend during a calendar year in order to compete.
Williams were found to have committed a “procedural breach” of the rules and had to bear the costs incurred by the cost cap administrators as well as the fine.
The development comes as teams fight for an increase in the cost cap this season, which will go down again to $135m in 2023.
But a number of leading teams have argued that global inflationary pressures mean they should be given a representative increase.