For Insurers

Risk retention groups - 2014 premium tax filing instructions

New for 2014

The 2014 premium tax form for risk retention groups is completely new. The most significant changes include:

  • Reporting of premiums to align with the annual statement
  • Schedules to properly report taxes
  • Removal of fee sections that do not apply to risk retention groups

Filing requirements

All risk retention groups 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 the 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.

The "Save progress" button does not check for errors.

CautionRemember: 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 line under 34 (it has no number).

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.

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
Property/Casualty Tax RateIf editable, enter your state of domicile property/casualty tax ratePre-populated by the Office of the Insurance Commissioner
Property/Casualty TaxesIf editable, enter taxes due to your state of domicileAuto-calculated

 

Schedule B - Ocean Marine 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.

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 the Office of the Insurance Commissioner
Ocean Marine TaxesIf editable, enter taxes due to your state of domicileAuto-calculated

 

Schedule C - Fire Marshal and/or Fire Department Taxes

 

Washington state does not charge additional fire tax; all Washington fields are non-editable.

Report premiums subject to additional fire tax in your state of domicile on this schedule.

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

 

Line nameState of domicileState of Washington
Other Taxes Assessed (Specify)Provide description and amount of taxes assessed, if anyn/a
Other Credit Allowed (Specify)Provide description and amount of credit allowed, if anyn/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 who 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."