2017 Form IG262 Instructions
(continued)
Information and Assistance
Line 8
Line 14
Enter all aircraft physical damage premiums
Interest
Website:
(line 22, Minnesota state page).
You must pay interest on the unpaid
Email:
insurance.taxes@state.mn.us
surcharge plus penalty from the due date
Phone:
651-556-3024
Line 9
until the total is paid. The interest rate for
This material is available in alternate formats.
Include all other premiums collected for
calendar year 2017 is 4 percent. The interest
fire, sprinkler and lightning damage if not
rate may change for future years.
For questions about licensing and regula-
already included. Provide a breakdown
tions, contact the Minnesota Department of
To figure how much interest you owe, use
schedule showing the fire portion. For pack-
Commerce:
the following formula with the appropriate
age policies, the fire insurance portion may
interest rate:
Website:
be broken out to more accurately reflect the
Email:
licensing.commerce@state.mn.us
correct portion of fire premiums. Include a
Interest = (surcharge + penalty) × # of days
Phone: 651-539-1599 or 1-800-657-3978
schedule detailing the breakdown.
late × interest rate ÷ 365
Fax:
651-539-0107
Line 13
Mailing Your Return
Penalties
Mail your return and all required attach-
Late Payment. If you do not pay the entire
ments to: Minnesota Revenue, P.O. Box
surcharge by the due date, a late payment
1780, St. Paul, MN 55145-1780.
penalty is due. The penalty is 5 percent of
the unpaid surcharge for any part of the first
For express deliveries, use our street ad-
30 days the payment is late, and 5 percent
dress: 600 N. Robert St., St. Paul, MN 55101
for each additional 30-day period, up to a
maximum of 15 percent.
Business Information
Late Filing. Add a late filing penalty to the
Changes
late payment penalty if your return is not
Be sure to let us know within 30 days if you
filed by the due date. The penalty is 5 per-
change mailing addresses, phone numbers
cent of the unpaid surcharge. When added
or any other business information. To do so,
to the late payment penalty, the maximum
go to our website, log in to e-Services and
combined penalty is 20 percent.
update your profile information. By notify-
ing us, we will be able to let you know of
Payment Method. If you’re required to pay
any changes in Minnesota tax laws and filing
electronically and do not, an additional 5
requirements.
percent penalty applies to payments not
made electronically, even if a paper check is
sent on time.