DETROIT (Reuters) - Toyota Motor Corp has agreed to pay a record $16.4 million fine to US safety regulators to settle a complaint that the company delayed a recall over defective accelerator pedals, but denied violating US regulations.

Toyota said it had made a "good faith" effort to handle safety problems but decided to pay the penalty — the maximum allowed by US law and the largest the regulator has ever sought — "to avoid a protracted dispute and possible litigation".

"We did not try to hide a defect to avoid dealing with a safety problem," Toyota said in a statement. US Transportation Secretary Ray LaHood said Toyota had put consumers at risk by failing to report safety problems related to the defective accelerator pedals and the department's investigations continued.

"I am pleased that Toyota has accepted responsibility for violating its legal obligations to report any defects promptly," LaHood said in a statement.

Although the fine imposed by the National Highway Traffic Safety Administration is largely symbolic, it adds to the toll from a safety crisis that has cost Toyota billions of dollars in lost sales and forced it to resort to record incentives.