Forgot to send 1099?

I paid an independent contractor $3700 in February of 2019, and am putting it on my taxes this year. I paid them via Venmo as I thought that because they were a 3rd party source that I didnt need to send a 1099. Someone pointed out that I do need to send a 1099 to the contractor. I am just curious what the penalty for not sending it would be, as it looked like a $200 fine online.

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