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42012 Form IG260 Instructions
For insurance tax laws, see Minnesota Statutes, Chapter 297I at
All surplus lines brokers licensed to do busi‑
The U.S. postmark date, or date recorded or
When you pay by check, your check autho‑
ness in Minnesota must file Form IG260,
marked by a designated delivery service, is
rizes us to make a one‑time electronic fund
Semiannual Statement of Surplus Lines
considered the filing date (private postage
transfer from your account, and you may
Insurance, even if there is no activity or tax
meter marks are not valid). When the due
not receive your canceled check.
liability to report.
date falls on a Saturday, Sunday or legal
How to Complete the Form
holiday, returns and payments electronically
(M.S. 297I.05, subd. 7)
Complete page 2 before page 1 of Form
made or postmarked on the next business
IG260.
day are considered timely. When a return
What’s New
or payment is late, the date it is received at
Page 2, Column Instructions
Effective July 21, 2011, the Nonadmit‑
the Department of Revenue is treated as the
ted and Reinsurance Reform Act of 2010
date filed or paid.
A. NAIC Number
(NRRA) permits only the insured’s home
Enter the NAIC number.
Extension for Filing Return. If good cause
state to require the payment of premium tax
exists, you may request a filing extension.
B. Name of Insurer
for nonadmitted insurance.
List the insurers. Include policies for insur‑
When Minnesota is the home state of the
Rules for Using Spreadsheets
ance companies without NAIC numbers.
insured, as provided under M.S. 297I.05,
If you are using your own spreadsheet, you
C. Policy Number
subd. 7, 100 percent of the gross premiums
must include all the information and in the
The policy number (modified by the month
are taxable in Minnesota with no allocation
same format as on page 2 of Form IG260,
and year that the policy was issued) is the
of the tax to other states.
including subtotals on each page. Your filing
controlling number for reporting surplus
“Home state” means the state in which an
will not be considered complete if all infor‑
lines policies and any subsequent activity
insured maintains its principal place of
mation, including subtotals, is not included.
during the policy period, i.e., endorsements,
business, or in the case of an individual,
audits and/or cancellations.
If you have more than two pages of surplus
the individual’s principal residence. If 100
lines insurance, submit an electronic file in
D. Effective Date (required)
percent of the insured risk is located outside
addition to the printout. The files must be in
Enter the effective date of the transaction.
Minnesota, then the insured’s home state is
a Microsoft Excel format.
the state to which the greatest percentage
E. Name of Insured
of the insured’s taxable premium for that
Payments
Provide the name of the insured.
insurance contract is allocated.
Electronic Payments
F. Policy Transaction Type
If your total insurance taxes and surcharges
Minnesota Tax ID Required
Enter one of the following numbers:
for the last 12‑month period ending June 30
Surplus lines insurance brokers are re-
1 = New business
4 = Audit
is $10,000 or more, you are required to pay
quired to have their own Minnesota tax ID
2 = Renewal
5 = Reinstatement
your tax electronically.
number. This is not a Social Security num‑
3 = Cancellation
6 = Endorsement
You must also pay electronically if you’re
ber or agency Minnesota tax ID number.
G. Total Premiums
required to pay any Minnesota business tax
If you don’t have a Minnesota tax ID, you
For policies with an effective date before
electronically, such as withholding tax.
can apply online. Go to our website at
July 21, 2011, include all premiums for risks
To pay over the Internet, go to the depart‑
and click “Regis‑
located in Minnesota. Effective beginning
ment’s website at
ter for a Minnesota tax ID number” on the
July 21, 2011, include all premiums paid by
and login. If you don’t have Internet access,
e‑Services menu. Note: During the process,
companies with a home state of Minnesota
call 1‑800‑570‑3329 to pay by phone. You’ll
be sure to select “Sole proprietor” as the type
for risks located in the United States and
need your user name, password and bank
of legal organization. Use NAICS classifica‑
U.S. territories.
tion number 524210.
routing and account numbers. When paying
H. Total Fees and Commissions
electronically, you must use an account that
(excluding stamping fee)
If you don’t have access to the Internet, call
is not associated with any foreign banks.
Include all fees and commissions paid by
651‑282‑5225 or 1‑800‑657‑3605 to register
policyholder to obtain coverage that are not
by phone.
If you use other electronic payment methods,
included in premiums.
such as ACH credit method or Fed Wire,
Due Dates
instructions are available on our website or
I. Total Gross Premiums
File Form IG260 with all required attach‑
by calling our Business Registration Office
Total premiums and all fees and commis‑
ments and pay any tax due by:
at 651‑282‑5225 or 1‑800‑657‑3605.
sions (column G plus column H).
• Aug. 15 (for the six-month period ending
Submit separate payments for each return.
J. Return Premiums
June 30); and
Enter all return premiums. Include a note
Check Payments (Form PV53)
• Feb. 15 of the following year (for the six-
indicating on which return the original
If you are not required to pay electroni‑
month period ending Dec. 31).
Continued
cally and choose to pay by check, complete
a PV53 payment voucher and mail it with
This form must be filed even if no tax is due
1
your check. Write your Minnesota tax ID
for the period.
number on your check.
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