Fillable Form Ig263 - Joint Self-Insurance Tax Return

2017 Form IG263 Instructions

For insurance tax laws, see Minnesota Statutes, Chapter 297I.01 – 297I.95 at

Who Must File?

Payments

Line 4 — Penalty

Late Payment. If you do not pay the entire

File Form IG263 for the following joint

Electronic Payments

tax by the due date, a late payment pen-

self-insurance plans:

If your total insurance taxes and surcharges

alty is due. The penalty is 5 percent of the

for the last 12-month period ending June

• any property and/or casualty or automo-

unpaid tax for any part of the first 30 days

30 is $10,000 or more, you are required to

bile liability (M.S. Chapter 60F),

the payment is late, and 5 percent for each

pay your tax electronically in all subsequent

• certain employer health coverage ar-

additional 30-day period, up to a maximum

years.

rangements (M.S. Chapter 62H).

of 15 percent.

You must also pay electronically if you’re

For plans operating under Chapter 60F,

Late Filing. Add a late filing penalty to the

required to pay any Minnesota business tax

the tax is equal to 2 percent of the total

late payment penalty if your return is not

electronically, such as sales or withholding

amount of claims paid during the fund

filed by the due date. The penalty is 5 percent

tax.

year, with no deductions for claims wholly

of the unpaid tax. When added to the late

or partially reimbursed through stop-loss

To pay electronically, go to the depart-

payment penalty, the maximum combined

insurance.

ment’s website at

penalty is 20 percent.

mn.us and log in to e-Services. If you don’t

For plans operating under Chapter 62H,

Payment Method. If you are required to

have Internet access, call 1-800-570-3329

the tax is equal to 2 percent of the total

pay electronically and do not, an additional

to pay by phone. You’ll need your user

amount of claims paid during the fund’s

5 percent penalty applies to payments not

name, password and bank routing and ac-

fiscal year, with no deductions for claims

made electronically, even if a paper check is

count numbers. When paying electronically,

wholly or partially reimbursed through

sent on time.

you must use an account not associated

stop-loss insurance.

with any foreign banks.

Line 5 — Interest

Before You File

If you use other electronic payment

You must pay interest on the unpaid tax plus

You Need a Minnesota Tax ID

methods, such as ACH credit method or

penalty from the due date until the total is

Your Minnesota tax ID is the seven-digit

Fed Wire, instructions are available on our

paid. The interest rate for calendar year 2018

number you’re assigned when you register

website or by calling Business Registration

is 4 percent. The interest rate may change for

with the Department of Revenue. You must

Office at 651‑282‑5225 or 1‑800‑657‑3605.

future years.

include your Minnesota tax ID on your

To figure how much interest you owe, use

Check Payments

return so that your filing and any payments

the following formula with the appropriate

you make are properly credited to your

If you’re not required to pay electronically

interest rate:

account.

and are paying by check, visit our website

at mn.us and click on

Interest = (tax + penalty) × # of days late ×

If you don’t have a Minnesota tax ID, apply

“Make a Payment” and then “By check” to

interest rate ÷ 365

online at mn.us or call

create a voucher. Print and mail the voucher

651-282-5225 or 1-800-657-3605.

Business Information

with a check made payable to Minnesota

It is also important to enter your federal ID

Revenue.

Changes

number, but not in place of your Minnesota

When you pay by check, your check autho-

Be sure to let us know within 30 days if you

tax ID number.

rizes us to make a one-time electronic fund

change mailing addresses, phone numbers,

transfer from your account, and you may

or any other business information. To do so,

Due Date

not receive your canceled check.

go to our website and click “Update business

File Form IG263 and pay any tax due by

info” from the e-Services menu. By notify-

March 1 of each year.

If you make your payments electronically,

ing us, we will be able to let you know of

do not send in the voucher.

The U.S. postmark date, or date recorded or

any changes in Minnesota tax laws and filing

marked by a designated delivery service, is

requirements.

Line Instructions

considered the filing date (private postage

Check Boxes

Information and Assistance

meter marks are not valid). When the due

At the top of the form, check if the return

date falls on a Saturday, Sunday or legal

Website: mn.us

is:

holiday, returns and payments electroni-

Email:

insurance.taxes@state.mn.us

cally made or postmarked the next business

• an Amended Return: Check only if you

Phone:

651-556-3024

day are considered timely. When a return

are amending a previously filed return

This material is available in alternate for-

or payment is late, the date it is received at

for the same period. Include all original

mats.

the Department of Revenue is treated as the

and corrected premiums on the amended

date filed or paid.

return.

For questions about licensing and regula-

• a No Activity Return: Check only if you

tions, contact the Minnesota Department of

Extension for Filing Return. If good cause

did not have any tax activity during the

Commerce:

exists, you may request a filing extension.

period.

Website:

Also check the appropriate box on the front

Email:

licensing.commerce@state.mn.us

of the form to indicate your type of entity.

Phone: 651-539-1599 or 1-800-657-3978

Fax:

651-539-0107

Form Ig263 - Joint Self-Insurance Tax Return - 2017 Page 2

Related Articles

Related forms

Related Categories