For Insurers

Foreign life and disability companies - 2015 premium tax filing instructions

New for 2015

Forms have new lines in the Premiums and Annuities – Additional Detail section for reporting both the Kids Only and Adult portions of Qualified Pediatric Dental with Family Coverage premiums.

Additionally, line labels in the Premiums and Annuities – Additional Detail section have been changed to clarify premium reporting:

  • Stand-Alone Adult Dental (Exchange) is now Adult Dental (Exchange)
  • Qualified Pediatric Dental (Non-Exchange) is now Qualified Pediatric Dental Kids Only (Non-Exchange)
  • Stand-Alone Qualified Pediatric Dental (Exchange) is now Qualified Pediatric Dental Kids Only (Exchange)

Filing requirements

All life and disability 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 is 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

Tax is generally due on all premiums, unless specifically exempted on the tax form. If you have questions, please contact us.

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

The Washington state tax rate is 2 percent. Calculations for the Washington portion of the form 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 and Annuities as Reported on the Annual Statement

Life and annuity premiums entered in this section should, with few exceptions, match premiums reported for Washington on the corresponding lines of the Life Insurance Part 1 page filed with the National Association of Insurance Commissioners (NAIC).

Accident and health premiums entered in this section should, with few exceptions, match premiums reported for Washington on the corresponding lines of the Accident and Health Insurance page filed with the NAIC.

Premiums and Annuities- Additional Detail

Premiums reported in this section are not in addition to premiums reported in the previous section; they are a subset of those premiums.

The purpose of breaking out the premiums is to allow us to accurately apply taxes and tax exemptions to the proper premiums. Premiums reported in this section capture detail not available on the Life Insurance Part 1 and Accident and Health Insurance pages of the Annual Statement. These premiums are carried through to the appropriate schedules.

Adult Dental (Non-Exchange) premiums entered are used to reduce the taxable premiums on Schedule C.

Adult Dental (Exchange) premiums reflect plans offered through the WA Exchange and reduces the taxable premium on Schedule D. In 2015, no stand-alone adult dental plans were offered through the Exchange.

Qualified Pediatric Dental Kids Only (Non-Exchange) premiums are for informational purposes only. Because the tax revenue for Qualified Pediatric Dental Kids Only (Exchange) is required to be deposited into an account separate from other tax revenue at the state treasury, we need to capture the data for Qualified Pediatric Dental - Kids Only outside of the exchange as well.

Qualified Pediatric Dental with Family Coverage (Non-Exchange) premiums need reported in two parts:

  • Kids Only Portion: These premiums are for informational purposes only.
  • Adult Portion: These premiums reduce the taxable premiums on Schedule C.

Non-Qualified Pediatric Dental (Non-Exchange) premiums represent all other pediatric dental premiums that aren’t ‘Qualified’ and reduce the taxable premium on Schedule C. These premiums can include Pediatric Dental – Kids Only and Pediatric Dental with Family Coverage.

Qualified Pediatric Dental – Kids Only (Exchange) premiums reflect plans offered through the WA Exchange and are taxed on Schedule D. Tax revenue from all WA Exchange premiums is required to be deposited into an account separate from other tax revenue at the state treasury.

Schedule A - Life Premium Taxes

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

Editable fields are indicated by a border around the field. Refer to the table below for entry details.

Schedule A instructions for foreign life and disability companies
Line nameState of domicileState of Washington
Army and Air Force Exchange Service (AAFES) Group Life PremiumsEnter AAFES Group Life premiums receivedEnter AAFES Group Life premiums received
Qualified Life PremiumsReport qualified life premiums your state of domicile allows to be claimedPopulated from Premium Reporting section
Other Deductions (specify)
(two rows)
Provide description and amount of deduction allowed, if anyn/a
Life Tax RateIf editable, enter your state of domicile life tax ratePre-populated by the Office of Insurance Commissioner
Life Premium TaxesIf editable, enter taxes due to your state of domicileAuto-calculated

Schedule B - Annuity Taxes

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

Editable fields are indicated by a border around the field. Refer to the table below for entry details.

Schedule B instructions for foreign life and disability companies
Line nameState of domicileState of Washington
Qualified AnnuitiesReport qualified annuity premiums your state of domicile allows to be claimedPopulated from Premium Reporting section
Other Deductions (specify)Provide description and amount of deduction allowed, if anyn/a
Annuity Tax RateIf editable, enter your state of domicile annuity tax ratePre-populated by the Office of Insurance Commissioner
Annuity TaxesIf editable, enter taxes due to your state of domicileAuto-calculated

Schedule C - Non-Exchange Accident and Health Taxes

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

Editable fields are indicated by a border around the field. Refer to the table below for entry details.

Schedule C instructions for foreign life and disability companies
Line nameState of domicileState of Washington
AAFES Group Accidental Death and Dismemberment PremiumsEnter AAFES Group Accidental Death and Dismemberment premiums receivedEnter AAFES Group Accidental Death and Dismemberment premiums received
Other Deductions (specify)
(two rows)
Provide description and amount of deduction allowed, if anyn/a
Adult Dental (Non-Exchange)Report Adult Dental premiums your state of domicile allows to be claimedPopulated from Premium Reporting section
Qualified Pediatric Dental with Family Coverage (Non-Exchange)
Adult PortionReport Adult Dental premiums your state of domicile allows to be claimedPopulated from Premium Reporting section
Non-Qualified Pediatric Dental (Non-Exchange)Report Non-Qualified Pediatric Dental premiums your state of domicile allows to be claimedPopulated from Premium Reporting section
Health Pool AssessmentEnter Health Pool Assessment your state of domicile allows to be claimedPre-populated by the Office of Insurance Commissioner (see note below)
Accident and Health Tax RateIf editable, enter your state of domicile accident and health tax ratePre-populated by the Office of Insurance Commissioner
Non-Exchange Accident and Health TaxesIf editable, enter taxes due to your state of domicileAuto-calculated

Note: 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 to Schedule D. If there are no premiums reported on Schedule D, the excess credit is carried forward to the next tax year.

Schedule D - Exchange Accident and Health Taxes

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

Editable fields are indicated by a border around the field. Refer to the table below for entry details.

Schedule D instructions for foreign life and disability companies
Line NameState of DomicileState of Washington
Adult Dental (Exchange)Report Adult Dental premiums your state of domicile allows to be claimedPopulated from Premium Reporting section
Other Deductions (specify)
(two rows)
Provide description and amount of deduction allowed, if anyn/a
Health Pool AssessmentEnter Health Pool Assessment your state of domicile allows to be claimedPre-populated by the Office of Insurance Commissioner (see note below)
Accident and Health Tax RateIf editable, enter your state of domicile accident and health tax ratePre-populated by the Office of Insurance Commissioner
Non-Exchange Accident and Health TaxesIf editable, enter taxes due to your state of domicileAuto-calculated

Note: The Health Pool Assessment Available, after being applied in Schedule C, 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 E - Other Taxes and Credits

Schedule E instructions for foreign life and disability companies
Line nameState of domicileState of Washington
Other Taxes Assessed (Specify)
(two rows)
Provide description and amount of taxes assessed, if any (see note below)n/a
Other Credit Allowed (Specify)
(two rows)
Provide description and amount of credit allowed, if anyn/a

Note: Examples of taxes to report here may include, but are not limited to, franchise tax or a minimum tax.

Schedule F - Life and Disability Assessment Credits

The assessment credit is pre-populated by the Office of Insurance Commissioner and cannot be edited. The assessment credit is 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 F instructions for foreign life and disability companies
Tax yearState of domicileState of Washington
2014 - 2010Enter L&D Assessment your state domicile allows to be claimedPre-populated by the Office of Insurance Commissioner
OtherEnter L&D assessment credit prior to 2010 your state of domicile allows to be claimedn/a

Schedule G - Filing and Miscellaneous Fees

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

    • Certificate of Authority Renewal Fee; and
    • Annual Statement Filing Fee.
Schedule G instructions for foreign life and disability companies
Line nameState of domicileState of Washington
Certificate of Authority Renewal FeeEnter the Certificate of Authority renewal fee your state of domicile charges foreign insurersPre-populated by the Office of Insurance Commissioner
Annual Statement Filing FeeEnter the annual statement filing fee your state of domicile charges foreign insurersPre-populated by the Office of Insurance Commissioner
Fraud FeeIf editable, enter the fraud fee from your state of domicilen/a
Operating FeeIf editable, enter the operating fee from your state of domicilen/a; the Regulatory Surcharge cannot be claimed on the premium tax return
Other Misc Fees (specify)
(two lines)
Provide description and amount of other fees charged by your state of domicile
(see note below)
n/a

Note: Examples of Other Misc Fees to report on this schedule may include, but are not limited to, cost containment fees, exam fees, or annual service fees.

Summary

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

2015 premium tax overpayments, if any, will be applied to prepayments due for 2016. Overpayments in excess of prepayments due will be processed as refunds and sent to the attention of the tax contact we have on file.

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."