For Insurers

Domestic property and casualty companies - 2014 Premium tax filing instructions

New for 2014

The 2014 premium tax form for property and casualty companies has been redesigned. The most significant changes include:

  • A scroll-style form so all sections of the form are on one page
  • Removal of schedules that do not apply to domestic companies
  • Improved readability by using shading to indicate your place in the form

2014 premium tax overpayments, if any, will be applied to prepayments due for 2015. Overpayments in excess of prepayments due will be processed as refunds and sent to the attention of the tax contact we have on file.

Filing requirements

All property and casualty insurance companies licensed in the State of Washington during the calendar year must file an electronic tax form, even if no business was actually transacted within Washington during that time. The filing of any form other than the online one provided by this office will be returned as an incomplete filing. Other computer-generated forms are not accepted.

Due date

The completed online form and payment must be received by the Office of Insurance Commissioner on or before March 1 following the end of the calendar year. When the due date falls on a Saturday or Sunday, the form and payment are considered timely if received on the next business day.

CautionCaution: Do not mail a paper version of the form or any attachments to our office.

Completing your premium tax form

Premiums reported must be on the same basis as required on the Annual Statement.

The tax rate is 2 percent. Calculations will be completed automatically.

Selecting "Print" will print your form exactly as it appears on the screen, even if you have not saved your work.

Clicking the "Save Progress" button does not check for errors.

RememberRemember: Save your work before moving away from the form; your work is not automatically saved.

Premium Reporting section

Premiums as Reported on the Annual Statement

Premiums entered in this section must match premiums reported for Washington on the corresponding lines of the State Page Exhibit filed with the National Association of Insurance Commissioners (NAIC).

Bail bond premiums and fees in excess of those reported on the state page are not included in line 24 or 34; please report these premiums using the unnumbered line under line 34.

Schedule A - Property/Casualty Taxes

Most fields on this schedule are populated from the Premium Reporting section of the tax form.

If your company received premiums from unauthorized areas, report them on this schedule.

The Health Pool Assessment Available is displayed on this schedule. If the credit available would reduce taxable premiums below zero, the excess credit is carried forward to the next tax year.

Schedule B - Ocean MarineTaxes

Some fields on this schedule are populated from the Premium Reporting section of the tax form.

Report Reinsurance Assumed, Reinsurance Ceded, Direct Losses Paid, Losses Paid on Reinsurance and Recoveries on Reinsurance Ceded on this schedule.

Schedule C - Assessment Credits

Assessment credits are pre-populated by the Office of Insurance Commissioner and cannot be edited. Assessment credits are prorated at 20 percent per year for five years, unless the credit balance falls under $1,000.

Example: Your company pays an assessment of $2,000 in calendar year 2012.

Year 1 (2012): Credit of $400 used, balance of $1,600.

Year 2 (2013): Credit of $400 used, balance of $1,200.

Year 3 (2014): Credit of $400 used, balance of $800.

Year 4 (2015): Credit of $800 used, balance of $0.

Schedule D - Filing and Miscellaneous Fees

If your company is no longer active in Washington state and this is your final return, enter $0 as the:

      • Certificate of Authority Renewal Fee and
      • Annual Statement Filing Fee.

Summary

All fields in this section are populated from other areas of the the tax form.

Declaration and final submission

Review the declaration and, if necessary, update the contact information.

The contact information listed here is the insurance commissioner's only point of contact for premium taxes and regulatory surcharge purposes; please make sure the information is accurate.

Enter the name and title of the officer that has examined the form and declares that to the best of this officer’s knowledge and belief, the information is entirely true, accurate and complete.

Submit your form to the insurance commissioner by clicking "Final Submission".