Form Ig260 - Nonadmitted Insurance Premium Tax Return For Surplus Lines Brokers - 2017 Page 3
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42017 Form IG260 Instructions
For insurance tax laws, see Minnesota Statutes, Chapter 297I at
Due Dates
All surplus lines brokers that write or are
If you use other electronic payment methods,
authorized to write nonadmitted insurance
such as ACH credit method or Fed Wire,
File Form IG260 with all required attach‑
must file Form IG260, Semiannual State-
instructions are available on our website or
ments and pay any tax due by:
ment of Surplus Lines Insurance, even if
by calling our Business Registration Office
• Aug. 15 (for the six‑month period ending
there is no activity or tax liability to report
at 651‑282‑5225 or 1‑800‑657‑3605.
June 30); and
during the period.
Submit separate payments for each return.
• Feb. 15 of the following year (for the six‑
(M.S. 297I.05, subd. 7).
month period ending Dec. 31).
Check Payments
If you’re not required to pay electronically
Filing Requirement
This form must be filed even if no tax is
and are paying by check, visit our website
due for the period.
Effective July 21, 2011, the Nonadmit‑
at and click on
ted and Reinsurance Reform Act of 2010
The U.S. postmark date, or date recorded or
“Make a Payment” and then “By check” to
(NRRA) permits only the insured’s home
marked by a designated delivery service, is
create a voucher. Print and mail the voucher
state to require the payment of premium tax
considered the filing date (private postage
with a check made payable to Minnesota
for nonadmitted insurance.
meter marks are not valid). When the due
Revenue.
date falls on a Saturday, Sunday or legal
When Minnesota is the home state of the
When you pay by check, your check autho‑
holiday, returns and payments electronically
insured, as provided under M.S. 297I.05,
rizes us to make a one‑time electronic fund
made or postmarked on the next business
subd. 7, 100 percent of the gross premiums
transfer from your account, and you may
day are considered timely. When a return
are taxable in Minnesota with no allocation
not receive your canceled check.
or payment is late, the date it is received at
of the tax to other states.
the Department of Revenue is treated as the
How to Complete the Form
“Home state” means the state in which an
date filed or paid.
insured maintains its principal place of
Complete page 2 before page 1 of Form
Extension for Filing Return. If good cause
business, or in the case of an individual, the
IG260.
exists, you may request a filing extension.
individual’s principal residence.
Page 2, Column Instructions
However, if 100 percent of the insured
Rules for Using Spreadsheets
A. NAIC Number
risk is located outside Minnesota, then the
If you are using your own spreadsheet, you
Enter the NAIC number.
insured’s home state is the state to which the
must include all the information and in the
greatest percentage of the insured’s taxable
B. Name of Insurer
same format as on page 2 of Form IG260,
premium for that insurance contract is al‑
List the insurers. Include policies for insur‑
including subtotals on each page. Your filing
located.
ance companies without NAIC numbers.
will not be considered complete if all infor‑
mation, including subtotals, is not included.
Minnesota Tax ID Required
C. Policy Number
The policy number (modified by the month
Surplus lines insurance brokers are re-
If you have more than two pages of surplus
and year that the policy was issued) is the
quired to have their own Minnesota tax ID
lines insurance, submit an electronic file in
controlling number for reporting surplus
number. This is not a Social Security num‑
addition to the printout. The files must be in
lines policies and any subsequent activity
ber or agency Minnesota tax ID number.
a Microsoft Excel format.
during the policy period, i.e., endorsements,
If you don’t have a Minnesota tax ID, you
Payments
audits and/or cancellations.
can apply online. Go to our website at
Electronic Payments
D. Effective Date (required)
and click “Regis‑
Enter the effective date of the transaction.
If your total insurance taxes and surcharges
ter for a Minnesota tax ID number” on the
for the last 12‑month period ending June
e‑Services menu. Note: During the process,
E. Name of Insured
30 is $10,000 or more, you are required to
be sure to select “Sole proprietor” as the type
Provide the name of the insured.
pay your tax electronically in all subsequent
of legal organization. Use NAICS classifica‑
years.
F. Policy Transaction Type
tion number 524210.
Enter one of the following numbers:
You must also pay electronically if you’re
If you don’t have access to the Internet, call
required to pay any Minnesota business tax
1 = New business
4 = Audit
651‑282‑5225 or 1‑800‑657‑3605 to register
electronically, such as withholding tax.
2 = Renewal
5 = Reinstatement
by phone.
3 = Cancellation
6 = Endorsement
To pay over the Internet, go to the depart‑
G. Total Premiums
ment’s website at
Include all premiums paid by companies
and login. If you don’t have Internet access,
with a home state of Minnesota for risks
call 1‑800‑570‑3329 to pay by phone. You’ll
located in the United States and U.S. ter‑
need your user name, password and bank
ritories.
routing and account numbers. When paying
electronically, you must use an account that
is not associated with any foreign banks.
Continued
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