Connecticut- CT Insurance Department Eliminating Paper Filings For Surplus Lines Taxes & Affidavits - Supportive Insurance Services

The Connecticut Insurance Department, Licensing Division, is changing the way it accepts surplus lines taxes and surplus lines affidavits. The Department is eliminating paper filings.

a. Surplus Lines Taxes

Beginning with the 2nd quarter filing, due August 15, 2012, all filings of affidavits and payments of taxes will be made using the National Association of Insurance Commissioners (NAIC) OPTins (Online Premium Tax for Insurance) application. Each individual or business entity submitting tax returns to the Department will be required to transmit them electronically via ACH, credit or debit. Licensees may begin using the system on or after June 15, 2012. Instructions are available at: http://www.optins.org.

To implement OPTins, contact the OPTins Marketing Team at optinsmktg@naic.org or call (816) 783-8787.

Connecticut will continue to collect all surplus lines premium taxes for risks in which Connecticut is the home state.

b. Surplus Lines Affidavits

Effective for the August 15, 2012 tax return due date, surplus lines brokers are required to file surplus lines affidavits electronically in PDF format through OPTins. The affidavit form was revised June 1, 2012. PDF’s of the old form will still be accepted with the August 15^th filing.

This only applies to nonadmitted insurance, including surplus lines insurance, placed through licensed surplus lines brokers. Unauthorized insurance that is not placed through a surplus lines broker, including independently procured insurance, continues to be under the jurisdiction of the Connecticut Department of Revenue Services. You may address questions regarding this notice to: cid.surpluslines@ct.gov RE: Bulletin SL-3 in the subject line.

The Connecticut Insurance Department encourages licensees to sign up for e-Alerts on the Department’s web site www.ct.gov/cid for news, information, updates and other relevant material.

The insurance licensing information provided on this blog is not legal advice and the reader is advised to consult an attorney regarding application of this information in any particular situation.

This information is brought to you by Supportive Insurance Services… Licensing Experts Saving You Time and Money!

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