Fillable Form Ig262 - Fire Safety Surcharge Return For Mutual Companies

2017 Form IG262 Instructions

For insurance tax laws, see Minnesota Statutes, Chapter 297I at

Filing Requirements

Premiums must include finance, service or

To pay electronically, go to the department’s

website at and

other charges paid to the insurers.

All insurers that write or are authorized to

write homeowners, fire and commercial

Line 1

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

nonliability insurance subject to Minnesota

Enter fire premiums written (line 1 of your

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

premium tax, must file a return even if no

NAIC Minnesota state page).

password and bank routing and account

business is conducted during the tax year.

numbers. When paying electronically, you

Lines 2a and 2b

This surcharge does not apply to Minnesota

must use an account not associated with any

Enter all crop premiums written for allied

township mutual fire insurance companies

foreign banks.

lines on line 2a and other than crop premi-

organized under Chapter 67A.

If you use other electronic payment

ums on line 2b (line 2.1, Minnesota state

Mutual property and casualty companies

methods, such as ACH credit method or

page).

(described in M.S. 297I.05, subd. 3 and 4)

Fed Wire, instructions are available on our

If the allied lines premiums reported on the

shall elect to collect and remit the fire safety

website or by calling Business Registration

surcharge (Form IG261) or (Form IG262).

NAIC line 2.1 do not contain fire cover-

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

age, those premiums are not subject to the

The election must be made by Dec. 31 of

Submit separate payments for each return.

fire safety surcharge. Include documenta-

each year for insurance for policies written

tion demonstrating that no fire coverage is

or renewed in the succeeding calendar year.

Check Payments

included on the NAIC line 2.1.

If you’re not required to pay electronically

(M.S. 297I.06).

and are paying by check, visit our website

Lines 3a and 3b

at and click on

Due Dates

Enter all farmowners and homeowners

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

multi-peril premiums written (lines 3 and 4,

File Form IG262 and pay any surcharge due

create a voucher. Print and mail the voucher

Minnesota state page).

by May 15, Aug. 15 and Nov. 15 of the cur-

with a check made payable to Minnesota

rent year and Feb. 15 of the following year.

Line 3c

Revenue.

Make separate electronic payments or write

Enter the nonliability portion of all com-

separate checks for each return.

When you pay by check, your check autho-

mercial premiums written (line 5.1, Min-

rizes us to make a one-time electronic fund

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

nesota state page).

transfer from your account, and you may

marked by a designated delivery service, is

not receive your cancelled check.

Line 3d

considered the filing date (private postage

Enter the liability portion of all commercial

meter marks are not valid). When the due

Note: If no amount is due or if you pay elec-

premiums written (line 5.2, Minnesota state

date falls on a Saturday, Sunday or legal

tronically, do not send in a voucher.

page).

holiday, returns and payments electronically

made or postmarked on the next business

Instructions

Line 4

day are considered timely. When a return

Enter all inland marine premiums (line 9,

Check Boxes

or payment is late, the date it is received at

Minnesota state page).

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

the Department of Revenue is treated as the

date filed or paid.

• an Amended Return: Check only if

Line 5

you’re amending a previously filed return

Extension for Filing Return. If good cause

Enter all ocean marine premiums (line 8,

for the same period. Include all original

exists, you may request a filing extension.

Minnesota state page).

and corrected premiums on the amended

return.

Line 6

Before You File

Enter all earthquake premiums (line 12,

• a No Activity Return: Check only if you

Enter your federal ID number and NAIC

Minnesota state page).

did not have any applicable surcharge

number on your return, but not in place of

activity during the period.

your Minnesota tax ID number.

Line 7

Line Instructions

Payments

Enter all total auto physical damage pre-

miums (lines 21.1 - 21.2, Minnesota state

Electronic Payments

Column D

page) OR the appropriate type of premiums

If your total insurance taxes and surcharges

If you wish to use different percentages

on lines 7a through 7f.

for the last 12-month period ending June

than the ones listed on the form, you must

The total auto physical damage premiums,

30 is $10,000 or more, you’re required to

receive prior approval. For written approval,

if listed by breakdown (lines 7a through 7f),

pay your tax electronically in all subsequent

send a letter or email to the department (see

should equal total auto physical damage

years.

Information and Assistance) requesting to

premiums on the state page of your annual

use percentages that were computed prior

You must also pay electronically if you’re

statement.

to collecting premiums during this period.

required to pay any Minnesota business tax

Attach documentation including detailed

electronically, such as sales or withholding

supporting schedules.

tax.

Continued

Form Ig262 - Fire Safety Surcharge Return For Mutual Companies - 2017 Page 2

Related Articles

Related forms

Related Categories