Fillable Form Ig263 - Joint Self-Insurance Tax Return

2016 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 self-

Electronic Payments

tax by the due date, a late payment penalty is

insurance plans:

If your total insurance taxes and surcharges

due. The penalty is 5 percent of the unpaid

• any property and/or casualty or automo-

for the last 12-month period ending June

tax for any part of the first 30 days the pay-

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

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

ment is late, and 5 percent for each addi-

• certain employer health coverage ar-

pay your tax electronically in all subsequent

tional 30-day period, up to a maximum of 15

rangements (M.S. Chapter 62H).

years.

percent.

For plans operating under Chapter 60F,

You must also pay electronically if you’re

Late Filing. Add a late filing penalty to the

the tax is equal to 2 percent of the total

required to pay any Minnesota business tax

late payment penalty if your return is not

amount of claims paid during the fund

electronically, such as sales or withholding

filed by the due date. The penalty is 5 percent

year, with no deductions for claims wholly

tax.

of the unpaid tax. When added to the late

or partially reimbursed through stop-loss

payment penalty, the maximum combined

To pay electronically, go to the depart-

insurance.

penalty is 20 percent.

ment’s website at

For plans operating under Chapter 62H,

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

Payment Method. If you are required to

the tax is equal to 2 percent of the total

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

pay electronically and do not, an additional

amount of claims paid during the fund’s

pay by phone. You’ll need your user name,

5 percent penalty applies to payments not

fiscal year, with no deductions for claims

password and bank routing and account

made electronically, even if a paper check is

wholly or partially reimbursed through

numbers. When paying electronically, you

sent on time.

stop-loss insurance.

must use an account not associated with any

foreign banks.

Line 5 — Interest

Before You File

You must pay interest on the unpaid tax plus

If you use other electronic payment

You Need a Minnesota Tax ID

penalty from the due date until the total is

methods, such as ACH credit method or

Your Minnesota tax ID is the seven-digit

paid. The interest rate for calendar year 2017

Fed Wire, instructions are available on our

number you’re assigned when you register

is 4 percent. The interest rate may change for

website or by calling Business Registration

with the Department of Revenue. You must

future years.

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

include your Minnesota tax ID on your

To figure how much interest you owe, use

return so that your filing and any payments

Check 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

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

at and click on

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

interest rate ÷ 365

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

online at 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

Changes

It is also important to enter your federal ID

Revenue.

number, but not in place of your Minnesota

Be sure to let us know within 30 days if you

tax ID number.

When you pay by check, your check autho-

change mailing addresses, phone numbers,

rizes us to make a one-time electronic fund

or any other business information. To do so,

Due Date

transfer from your account, and you may

go to our website and click “Update business

not receive your canceled check.

File Form IG263 and pay any tax due by

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

March 1 of each year.

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

If you make your payments electronically,

changes in Minnesota tax laws and filing

do not send in the voucher.

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

requirements.

marked by a designated delivery service, is

Line Instructions

considered the filing date (private postage

Information and Assistance

meter marks are not valid). When the due

Check Boxes

date falls on a Saturday, Sunday or legal

Website:

At the top of the form, check if the return is:

holiday, returns and payments electroni-

Email:

insurance.taxes@state.mn.us

• an Amended Return: Check only if you

cally made or postmarked the next business

Phone:

651-556-3024

are amending a previously filed return

day are considered timely. When a return

This material is available in alternate formats.

for the same period. Include all original

or payment is late, the date it is received at

and corrected premiums on the amended

For questions about licensing and regula-

the Department of Revenue is treated as the

return.

tions, contact the Minnesota Department of

date filed or paid.

• a No Activity Return: Check only if you

Commerce:

Extension for Filing Return. If good cause

did not have any tax activity during the

exists, you may request a filing extension.

Website:

period.

Email:

licensing.commerce@state.mn.us

Also check the appropriate box on the front

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

of the form to indicate your type of entity.

Fax:

651-539-0107

Form Ig263 - Joint Self-Insurance Tax Return - 2016 Page 2

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