Controlled Substances Civil Penalty Reform Act of 1998 - Amends the Controlled Substances Act to make it unlawful to negligently (current law does not say negligently) refuse or fail to make, keep, or furnish specified records or information required under the Act. Limits the civil penalty for a violation of record-keeping requirements in which no unauthorized person obtains unlawful control of a controlled substance to $10,000.

Directs the Attorney General, in deciding whether to pursue a civil action for a record-keeping violation, to consider specified factors, such as whether diversion actually occurred, whether the violations were intentional or negligent, and the financial capacity of registrants to pay the fines assessed. Directs the Attorney General, in deciding whether to assess a penalty for a violation and the amount of any such penalty, to: (1) take into account whether the violator has taken immediate and effective corrective actions; and (2) follow informal procedures such as sending one or more warning letters to the violator, as appropriate.