Of course, but it should never be too late to do the right thing. It's better for everyone if people feel safe to contact the people in the know at any point than for them to think that it is too late and that if they just ignore the problem it will go away.
Speaking rather generically, at a certain point, a crime has been committed and a line has been crossed.
Naturally, during sentencing it should be taken into account that someone started acting responsibly and owned up to what they had done, but that doesn't mean they haven't done anything wrong.