Hello,
This precept goes along with another one:
The third precept (“You shall humbly receive your Creator in Holy Communion at least during the Easter season.") guarantees as a minimum the reception of the Lord’s Body and Blood in connection with the Paschal feasts, the origin and center of the Christian liturgy.(Cf. ⇒ CIC, can. 920; CCEO, cann. 708; 881 # 3.)
But, to be able to fulfill this precept, you have to be in a state of grace (no mortal sins on your conscience). So, this is the purpose for the precept of confession:
The second precept (“You shall confess your sins at least once a year.") ensures preparation for the Eucharist by the reception of the sacrament of reconciliation, which continues Baptism’s work of conversion and forgiveness.(Cf. ⇒ CIC, can. 989; CCEO, can. 719.)
But as the canon reads:
Can. 989 After having reached the age of discretion, each member of the faithful is ob-liged to confess faithfully his or her grave sins at least once a year.
So this seems to say to me that only if you have grave sins on your conscience does this precept apply. But, of course, if you commit a mortal sin you should find the nearest confessor as soon as humanly possible.
I also cannot imagine why a Catholic who is living well (i.e., staying in a state of grace) wouldn’t want to avail himself to this Sacrament more often than once a year. Or even how it is possible to stay in a state of grace without the help of the Sacraments, Confession being one of them.