Formalities Chk Fail is stage where the Trademark Registry finds there is irregularity in your trademark filing. Formalities Chk Fail can be triggered at any stage of trademark registration. It will mostly happen at initial stages of filing or after marking your trademark for Examination. Formalities Chk Fail can be rectified by filing amendment to your trademark application. As to what reason Formalities Chk Fail has triggered by the Trademark Registry can be found by looking in to the report.
During processing of your trademark high chances that it would have been possibly filed in wrong class.
The exact reason can be found by analyzing the fail report which they have sent you.
It can be solved by filing amendment application for your trademark.
It will take anywhere from 1 week to 8 weeks depending on the reason why it triggered Formalities Chk Fail status.