For Insurers

Foreign 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 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 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 no longer included in line 24 or 34; please report these premiums using the un-numbered line under line 34.

Schedule A - Property/Casualty 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 property and casualty companies
Line NameState of DomicileState of Washington
Reinsurance Assumed Authorized CompanyReport reinsurance assumed from authorized companiesn/a
Reinsurance Assumed Unauthorized CompanyReport reinsurance assumed from unauthorized companiesn/a
Reinsurance Assumed Authorized CompanyReport reinsurance assumed your state of domicile allows to be claimedn/a
Dividends Paid to PolicyholdersReport dividends your state of domicile allows to be claimedn/a
Losses Paid to PolicyholdersReport losses paid your state of domicile allows to be claimedn/a
Other Deductions (specify)Provide description and amount of deduction allowed, if anyn/a
Health Pool Assessment AvailableEnter Health Pool Assessment your state of domicile allows to be claimedPre-populated by Office of Insurance Commissioner (see note below)
Property/Casualty Tax RateIf editable, enter your state of domicile property/casualty tax ratePre-populated by Office of Insurance Commissioner
Property/Casualty 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 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.

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

Schedule B instructions for foreign property and casualty companies
Line NameState of DomicileState of Washington
Reinsurance AssumedReport reinsurance assumed your state of domicile allows to be claimedReport reinsurance assumed
Reinsurance CededReport reinsurance ceded your state of domicile allows to be claimedReport reinsurance ceded
Direct Losses Paid (Deduct Salvage)Report direct losses paid your state of domicile allows to be claimedReport direct losses paid
Losses Paid on ReinsuranceReport losses paid on reinsurance your state of domicile allows to be claimedReport losses paid on reinsurance
Recoveries on Reinsurance CededReport recoveries on reinsurance ceded your state of domicile allows to be claimedReport recoveries on reinsurance ceded
Ocean Marine Tax RateIf editable, enter your state of domicile ocean marine tax ratePre-populated by Office of Insurance Commissioner
Ocean Marine TaxesIf editable, enter taxes due to your state of domicileAuto-calculated

Schedule C - Fire Marshal and/or Fire Department 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 property and casualty companies
Line NameState of DomicileState of Washington
Fire Tax RateIf editable, enter your state of domicile ocean marine tax raten/a
Fire TaxesIf editable, enter taxes due to your state of domicilen/a

Schedule D - Other Taxes and Credits

Schedule D instructions for foreign property and casualty companies
Line NameState of DomicileState of Washington
Other Taxes Assessed (Specify)
(2 lines)
Provide description and amount of taxes assessed, if anyn/a
Other Credit Allowed (Specify)
(2 lines)
Provide description and amount of credit allowed, if anyn/a

Schedule E -Assessment Credits

Assessments are 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 E instructions for foreign property and casualty companies
Tax YearState of DomicileState of Washington
2014 - 2010For each year, enter assessment credit your state domicile allows to be claimedPre-populated by Office of Insurance Commissioner
OtherEnter assessment credits prior to 2010 your state of domicile allows to be claimedn/a

Schedule F - Filing and Miscellaneous Fees

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

    • Certificate of Authority Renewal Fee; and
    • Annual Statement Filing Fee.
Schedule F instructions for foreign property and casualty 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 Office of Insurance Commissioner
Annual Statement filing feeEnter the annual statement filing fee your state of domicile charges foreign insurersPre-populated by 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)
(2 lines)
Provide description and amount of other fees charged by your state of domicilen/a

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".