Oklahoma Insurance Department Regulation of Premium Taxes

Oklahoma Insurance Department sent this bulletin at 07/05/2016 11:00 AM CDT

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OKLAHOMA INSURANCE DEPARTMENT COMMISSIONER JOHN D. DOAK

Five Corporate Plaza 3625 NW 56th, Suite 100

Oklahoma City, OK 73112

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SPECIAL NOTICE

TO:                 Licensed Insurance Companies

 

 

FROM:           Insurance Department, Financial Division

 

 

SUBJECT:     Oklahoma Insurance Department Regulation of Premium Taxes

Effective with the 2016 third quarter filing, Licensed Insurance Companies will file all quarterly premium tax forms and all accompanying premium tax payments and each quarterly remittance thereafter electronically pursuant to Order No. 16-0341-PRJ.

Effective with the 2016 annual return due in 2017, all annual premium taxes will be filed by electronic format pursuant to Order No. 16-0341-PRJ.

Title 36 O.S. Section 350: “Notwithstanding any other provision of law that requires a particular form and associated payment to be filed with the Insurance Department in paper form, or to be mailed or hand- delivered to the Insurance Department, the Insurance Commissioner may, by appropriate order, require that all filings of that specific type be filed or delivered in an electronic format.”

Title 36 O.S. Section 629(A): “Quarterly premium tax filings and payments shall be in a form prescribed by the Commissioner….”

Title 36 O.S. Section 624(A) (2): Annual Premium Tax filings and payments shall be in a form prescribed by the Commissioner…..”

All premium tax filing and payment instructions can be found on the OID website. Please
visit: www.ok.gov/oid. From the OID Home Page, place cursor over “Regulated Entities” found on the blue title bar, then click “Financial” from the drop down menu, Click the green “Financial Forms” button found on the right side of the page, scroll down to Current Annual Statement filings.

Register and/or login with OPTins at www.optins.org or by calling 816-783-8990. Note: Do not wait to register with OPTins, as the process can take several weeks to complete.

If you have questions or concerns regarding the special notice, please contact the Oklahoma Insurance
Department, Financial Division, at (405) 522-0891. To view Order 16-0341, you can go to www.oid.ok.gov, click on Public Information, Legal, Final Orders, 2016, Scroll down to 16-0341-PRJ.