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TENNESSEE DEPARTMENT OF COMMERCE AND INSURANCE

INSTRUCTIONS FOR FILING

“QUARTERLY STATEMENT OF PREMIUMS AND FEES FOR TAXATION”

LIFE AND ACCIDENT AND HEALTH COMPANIES

1. WHO MUST FILE – DUE DATE – CORRECT PROCEDURE FOR FILING – Any Tennessee insurance company or

foreign company licensed in Tennessee must file a STATEMENT OF PREMIUMS AND FEES FOR TAXATION based on

the gross premiums written for the previous period. Payment due dates are June 1, August 20 and December 1. The

fact that a company may be inactive or become inactive does not relieve it of the necessity to file the return. Tenn. Code

Ann. § 56-4-216 defines what shall be considered as a timely filing of the premium tax return. It states in pertinent part,

“(c) Notwithstanding any other provisions of the statutes of this state, no grace period for the filing of returns and

payments shall be allowed. A premium tax return and payment made to the department shall not be considered as paid

on or before the due date unless: (1) the premium tax return and payment is received in the office of the department on

or before the due date; (2) the premium tax return and payment bears a post office cancellation mark stamped by the

United States post office on or before the due date, or is mailed by certified or registered mail, or has a certificate of

mailing on or before the due date. A premium tax return and payment received by the department bearing a

metered mail stamp and no post office cancellation mark stamped by the United States post office, shall be

deemed filed and received on the date such premium tax return arrives at the department; or (3) in the event a

premium tax return and payment is mailed but not received by the Department of Commerce and Insurance, or received

and the cancellation mark is illegible or omitted, such return and payment shall be deemed filed and received on the date

they were mailed if the sender establishes that the premium tax return and payment were deposited in the United States

mail. In order to establish proof of mailing under these circumstances, a record authenticated by the United States post

office that the original mailing was sent registered mail, certified mail, or by certificate of mailing, shall be the only proof

accepted by the Department of Commerce and Insurance.”

2. CORRECT TAX RETURN – In order to avoid the penalty and interest prescribed by Tenn. Code Ann. § 56-4-216, a tax

return must be filled out correctly. All deficiencies shall be subject to the penalty and interest as provided in Tenn. Code

Ann. § 56-4-216, which will apply to the tax unpaid from the date the amount was due.

3. EXTENTION OF TIME – The Commissioner may in the exercising of the Commissioner’s discretion, for good

cause shown, upon application made in advance of delinquency date, grant an extension of time, but not to exceed sixty

(60) days, to the company to file the premium tax return and pay the tax imposed, without penalty attached; however, the

tax shall bear interest at the rate of ten percent (10%) per annum from the due date until paid. If any company who has

received an extension of time fails to file the required form and pay the appropriate taxes and fees before the expiration

of the extension granted, the penalty and interest will attach as though no extension has been granted, and the company

is subject to debarment in this state until the taxes and penalties are fully paid.

4. EXPIRATION OF LICENSE – CONTINUATION TO PAY TAX – All foreign insurance companies, which shall take out or

renew a license to transact business in this state, shall upon expiration of their license for any cause, or upon their

ceasing to transact new business in this state, continue to pay the same tax upon their business remaining in force in the

same manner and time as other licensed insurance companies of the same class.

5. GROSS PREMIUMS – For premium tax purposes, the words “gross premiums” or “taxable direct premiums” are defined

to mean as follows: “Maximum gross premiums as provided in the policy contracts, new and renewal, including policy or

membership fees, whether paid in part or in whole by cash, automatic premium loans, dividends applied in any manner

whatsoever, and without deduction or exclusion of dividends in any manner; but excluding premiums returned on

cancelled policies, or on account of reduction in rates, or reductions in the amount insured or experience rating refunds

on life insurance policies and disability insurance policies.”

IN-0580 Life and Health Quarterly Instructions Rev 3/2010

Form In-0580 - Quarterly Statement Of Premiums And Fees For Taxation - Life And Accident And Health Companies - 2010 Page 2