Fillable Form Ig261 - Fire Safety Surcharge Return

2017 Form IG261 Instructions

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

Late Filing. Add a late filing penalty to the

electronically, you must use an account not

Filing Requirements

associated with any foreign banks.

late payment penalty if your return is not

The fire safety surcharge is effective for

filed by the due date. The penalty is 5 per-

insurers licensed to write homeowners,

If you use other electronic payment

cent of the unpaid surcharge. When added

fire and commerical nonliability policy

methods, such as ACH credit method or

to the late payment penalty, the maximum

premiums.

Fed Wire, instructions are available on our

combined penalty is 20 percent.

website or by calling Business Registration

This surcharge does not apply to Minnesota

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

Payment Method. If you are required to

township mutual fire insurance companies

pay electronically and do not, an additional

organized under M.S. 67A.

Submit separate payments for each return.

5 percent penalty applies to payments not

Mutual property and casualty companies

made electronically, even if a paper check is

Check Payments

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

sent on time.

If you’re not required to pay electronically

shall elect to collect and file the fire safety

and are paying by check, visit our website

Line 8 — Interest

surcharge (Form IG261) or the (Form

at and click on

You must pay interest on the unpaid

IG262).

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

surcharge plus penalty from the due date

The election must be made by Dec. 31 of

create a voucher. Print and mail the voucher

until the total is paid. The interest rate for

each year for insurance for policies written

with a check made payable to Minnesota

calendar year 2017 is 4 percent. The interest

or renewed in the succeeding calendar year.

Revenue.

rate may change for future years.

(M.S. 297I.06).

When you pay by check, your check autho-

To figure how much interest you owe, use

rizes us to make a one-time electronic fund

the following formula with the appropriate

Due Dates

transfer from your account, and you may

interest rate:

File your quarterly Form IG261 and pay

not receive your canceled check.

Interest =

any surcharge due by May 15, Aug. 15 and

Nov. 15 of the current year and Feb. 15 of

Instructions

(surcharge + penalty) x # of days late x interest

the following year. Please make separate

rate ÷ 365

Check Boxes

electronic payments or write separate

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

checks for each return.

Mailing Your Return

• an Amended Return: Check only if you

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

Mail your return and all required attach-

are amending a previously filed return

marked by a designated delivery service, is

ments to: Minnesota Revenue, P.O. Box

for the same period. Include all original

considered the filing date (private postage

1780, St. Paul, MN 55145-1780.

and corrected premiums on the amended

meter marks are not valid). When the due

For express deliveries, use our street ad-

return.

date falls on a Saturday, Sunday or legal

dress: 600 N. Robert St., St. Paul, MN 55101

holiday, returns and payments electroni-

• a No Activity Return: Check only if you

cally made or postmarked the next business

did not write any applicable premiums.

Business Information

day are considered timely. When a return

Line Instructions

or payment is late, the date it is received at

Changes

the Department of Revenue is treated as the

Premiums must include finance, service

Be sure to let us know within 30 days if you

date filed or paid.

and other charges paid to the insurers.

change mailing addresses, phone numbers

or any other business information. To do so,

Extension for filing return. If good cause

Line 1

go to our website, login to e-Services and

exists, you may request a filing extension.

Enter all homeowners multi-peril premiums

update your profile information. By notify-

written (line 4, Minnesota state page).

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

Payments

any changes in Minnesota tax laws and filing

Line 2

Electronic Payments

requirements.

Enter all fire premiums written (line 1, Min-

If your total insurance taxes and surcharges

nesota state page).

for the last 12-month period ending June

Information and Assistance

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

Line 3

Website:

pay your tax electronically in all subsequent

Enter the nonliability portion of all com-

Email:

insurance.taxes@state.mn.us

years.

mercial premiums written (line 5.1, Min-

Phone:

651-556-3024

You must also pay electronically if you’re

nesota state page).

This material is available in alternate formats.

required to pay any Minnesota business tax

Line 7 — Penalty

For questions about licensing and regula-

electronically, such as sales or withholding

tions, contact the Minnesota Department of

Late Payment. If you do not pay the entire

tax.

Commerce:

surcharge by the due date, a late payment

To pay electronically, go to the department’s

penalty is due. The penalty is 5 percent of

Website:

website at and

the unpaid surcharge for any part of the first

Email:

licensing.commerce@state.mn.us

30 days the payment is late, and 5 percent

Phone:

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

call 1-800-570-3329 to pay by phone. You’ll

for each additional 30-day period, up to a

Fax:

651-539-0107

need your user name, password and bank

maximum of 15 percent.

routing and account numbers. When paying

Form Ig261 - Fire Safety Surcharge Return - 2017 Page 2

Related Articles

Related forms

Related Categories