General Information For Rct-121b printable pdf download

General Information for RCT-121B

RCT-121B-I (11-13)

Page 1 of 6

NEW FOR 2013

The electronic funds transfer requirement was reduced from $10,000 to $1,000; all payments of $1,000 or more made after Dec. 31, 2013,

must be made electronically.

Taxpayers may request a 60-day extension to file this report by filing REV-426.

NOTE: Act 52 of 2013 — which grants an automatic PA extension to file the PA Corporate Tax Report, RCT-101, if the taxpayer has a valid

federal extension — DOES NOT apply to this tax.

REMINDER

• Revenue ID: A corporation’s Revenue ID is a new, unique, 10-digit number assigned by the department to a taxpayer, separate

from any federally issued identification number(s) or Pennsylvania license number(s).

As the department continues to transition into an integrated tax system, a 10-digit Revenue ID will be assigned and communicated

to each taxpayer. A corporation’s seven-digit PA Tax Account ID will continue to be accepted by the department on tax forms and

schedules, but upon assignment of a 10-digit Revenue ID to a taxpayer, the department will begin using the 10-digit Revenue ID on

outbound correspondence in lieu of referencing the seven-digit Tax Account ID.

• RCT-121B has been redesigned and is no longer year-specific.

• Line-by-line instructions for RCT-121B are now available.

• RCT-121B is available as a fill-in form on the department’s website at

• REV-1175, Schedule AR, (explanation for amending) must be included when filing an amended report.

• One estimated payment coupon (REV-423) and one extension coupon (REV-426) will be used for all specialty taxes. The coupons

and the tax report (RCT-121B) will no longer be mailed. They are available as fill-in documents on the department’s website at

The coupons can be filed electronically through e-TIDES at However, elec-

tronic filing of the tax report is not available. The report should be completed using the computer-based fill-in form, printed and sub-

mitted by mail to the department. The form can be saved electronically for your records.

Annual Report Checklist: Make sure you include the following to file your annual report properly and completely:

• Complete RCT-121B, Gross Premiums Tax Report for Foreign Life or Foreign Title Insurance Companies

• Copy of the Pennsylvania Business Page

• Copy of Schedule T from the annual report

• Provide a copy of the domicile state’s tax report substituting Pennsylvania values for domicile state’s values. Please indicate the

report as a “Pro-Forma Report with PA Values.”

• Corporate officer’s signature on Page 1 and preparer’s signature and PTIN on Page 2 (if applicable)

All tax calculations must be shown in whole dollar amounts. An amount less than 50 cents

will be eliminated, and an amount of 50 cents or more will be rounded to the next dollar.

Imposition, Base and Rate

Gross premiums tax is imposed on insurance companies at a rate of 2 percent of gross premiums received from business conducted in

Pennsylvania. For more information, see the Act of March 4, 1971 (P.L. 6, No.2).

Extraordinary medical benefit premiums for coverage under 75 Pa.C.S. § 1715(a)(1.1) are not subject to the tax (See 75 Pa.C.S. §

1798.1(c)).

The following may be deducted from taxable premiums:

• Amounts returned on policies cancelled or not taken

• Premiums received for reinsurance

• The portion of advanced premiums, premium deposits or assessments returned in cash or credited to members or policyholders upon

the expiration or termination of their contracts (in the case of mutual insurance companies, associations, exchanges and stock com-

panies with participating features)

• Notes and other obligations received by mutual insurance companies to secure contingent premium liabilities to the extent that no

assessment has been made and collected against the notes or obligations.

Companies exempt from the tax include title insurance companies subject to the title insurance and trust companies shares tax; purely

mutual beneficial associations whose funds for the benefit of members and families or heirs are made up entirely of the contributions from

their members and the accumulated interest on those contributions; corporations organized under the Nonprofit Hospital Plan Act of 1937

(Act of June 21, 1937, (P.L. 1948, No.378); and corporations organized under the Nonprofit Medical, Osteopathic, Dental and Podiatry

Service Corporation Act of 1939 (Act of June 27, 1939, (P.L. 1125, No.399) Act of 1937 (Act of June 21, 1937, (P.L. 1948, No. 378)); and

corporations organized under the Nonprofit Medical, Osteopathic, Dental and Podiatry Service Corporation Act of 1939 (Act of June 27, 1939,

(P.L. 1125, No.399).

Revenue ID, Federal Employer Identification Number (FEIN), Parent Corporation FEIN, Name and Address

The Revenue ID number, FEIN, name and complete mailing address must be provided. If the taxpayer is a subsidiary of a corporation, the

parent corporation’s FEIN must be provided. Also provide the telephone number and email address of the taxpayer.

Tax Year

Enter month, day and year (MM DD YYYY) for the tax year beginning and enter year (YY) for the tax year end.

General Information For Rct-121b

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