Is there any penalty for delaying niyyat after tajawuz (passing) of meeqat?
بِسْمِ اللهِ الرَّحْمنِ الرَّحِيْم
In the name of Allah, the Most Gracious, the Most Merciful
Ihram is essentially three things: the clothes of Ihram, the talbiyah and the intention. If one of them is missing, then Ihram is not complete, and a person does not become a Muhrim.
If such a person does pass the Meeqat without Ihraam, he should go back to the Meeqat (unless he intends to do Hajj and he fears that if he goes back to the Meeqat, the Hajj days will be over), wear Ihraam and enter again. If he wears Ihraam without going back to the Meeqat, then paying off a dam will become compulsory on him for neglecting the right of the Meeqat.
Only Allah knows best
Written by Maulana Imran Mughal
Checked and approved by Mufti Mohammed Tosir Miah
Darul Ifta Birmingham
 Allamah Ibn Abidin, Radd Al-Muhtar (Dar Al-Thaqafah: Damascus, 2000), 7:4-10.