Absolutely nothing terrible happens to your story if it's reported. You can still do everything you could do before, posting chapters included. It's not going to get taken down or suspended or anything quite as morbid as the term 'reported' might have you think.
At the moment it's basically just a notification that someone thought something might be up with your story, little more than. You can ignore it completely if you feel like someone has just reported it for no reason. Or hell, you can just ignore it if you feel like ignoring it. Nothing bad will happen either way.
You can still do everything you could do before, posting chapters included. It's not going to get taken down or suspended or anything quite as morbid as the term 'reported' might have you think.
At the moment it's basically just a notification that someone thought something might be up with your story, little more than. You can ignore it completely if you feel like someone has just reported it for no reason. Or hell, you can just ignore it if you feel like ignoring it. Nothing bad will happen either way.