While it’s not likely that government agents will knock on your door to check postings, they may visit for other reasons. At the federal level, most posting fines are assessed when agencies conduct an I-9 audit, an OSHA inspection, an EEOC investigation or even a DOL follow-up to an employee complaint. While on the premises for these reasons, agents will check posting compliance and issue fines if your postings are incomplete or outdated. On the state and local level, employers may be subjected to random government audits resulting in posting fines.
The bigger risk of non-compliance is related to employee lawsuits. In these cases, posting violations can result in higher damage awards against you, or cause you to forfeit important legal defenses. Missing or outdated postings can also extend the statute of limitations for employment lawsuits.