For Insurers

Captive insurer premium reporting and tax requirements

The passage of 2SSB 5315 (leg.wa.gov) requires captive insurers operating in Washington state to register with the Office of the Insurance Commissioner (OIC). Taxes on premiums for Washington risks are due for any period after Jan. 1, 2011, if not previously remitted. 

When and how do I file my annual premium tax return?

Your premium tax return and payment for the previous calendar year are due March 1. You are required to file online.

How do I file online?

You'll need a user ID and password to access the e-Tax Filing and Payment Center. This was issued to you as part of the registration process. If you're not sure who your contact person is, use the Filing and Payment Center sign in page to find your tax contact. All you will need is your WAOIC number to look it up.

How do I report prior period premiums and pay taxes for those premiums?

Eligible captive insurers that are currently covering Washington risk are required to register with the OIC. Once you are registered as a captive insurer, your tax contact will receive an email from our tax experts with instructions on how to report premiums and pay taxes. 

If you are not currently covering Washington risk, but are a captive insurer that covered Washington risk after January 1, 2011, you are required to report premiums and pay premium taxes pursuant to Sec. 4(6) of 2SSB 5315 (leg.wa.gov).  Please contact our tax experts for reporting guidance.