BULLETIN NO. 12-2023
| To: |
Oklahoma Surplus Lines Agents and Direct Procurement Filers |
| Re: |
Adoption of Slip Platform for Reporting and Payment of Surplus Lines Taxes |
| From: |
Glen Mulready, Insurance Commissioner |
| Date: |
October 4, 2023 |
Purpose
The purpose of this bulletin is to advise Oklahoma licensed surplus lines agents and direct procurement filers that effective January 1, 2024 the Oklahoma Insurance Department will adopt the Surplus Lines Information Portal (SLIP) platform for the reporting and payment of Oklahoma surplus lines premium taxes in accordance with 36 O.S. § 1115.
All policies, and endorsements on policies, effective on or after January 1, 2024, shall be reported to the Oklahoma Insurance Department using the SLIP platform (https://slip.slasclearinghouse.com/). Transactions reported through SLIP will be charged the 6% surplus lines premium tax and the 0.175% SLAS transaction fee. All premium taxes and transaction fees will be paid via ACH Debit in SLIP. Policies, or endorsements on policies, effective prior to January 1, 2024 should continue to be reported to the Oklahoma Insurance Department using OPTins.
Registration and Login Information
Agents, brokers, direct procurement filers, and/or third-party filers who currently have a SLIP Clearinghouse login do not need to register for a new SLIP account to begin reporting Oklahoma policies and transactions effective on or after January 1, 2024. Agents, brokers, direct procurement filers, and/or third-party filers who are not currently registered in the SLIP Clearinghouse platform will be able to register for an account and begin filing on January 1, 2024.
Filing Procedures
The SLIP platform is available for reporting using two methods: transaction filings in SLIP or XML batch upload. SLIP allows agents, brokers, direct procurement filers, and/or third-party filers to report individual transactions, whereas the XML batch upload process allows multiple transactions to be submitted in a single XML file. The XML schema and batch upload documentation will be available, upon request, on or after October 1, 2023. To request the batch filing documentation, please email batchfiling@slasclearinghouse.com. The SLIP platform and XML batch upload for Oklahoma policies and endorsements on policies effective January 1, 2024 and after will be available following the January 1, 2024 system go-live.
Quarterly Affidavits and Tax Payments
All Oklahoma policies and endorsements on policies effective January 1, 2024 and after must be reported in SLIP by the required due date in accordance with 36 O.S. § 1107 and OAC 365:1-9-5. At the end of each calendar quarter, premium tax and SLAS transaction fee invoices will be delivered to the SLIP inboxes. Premium tax payments for Oklahoma are due at the end of the month following the end of the quarter in accordance with OAC 365: 1-9-5.
Reporting and Payment Schedule
|
Transaction Effective Date
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Reporting Deadline
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Invoice Issue Date
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Invoice Due Date
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|
Q1 2024 (Jan – Mar)
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April 30
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April 1
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April 30
|
|
Q2 2024 (Apr – Jun)
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July 31
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July 1
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July 31
|
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Q3 2024 (Jul – Sept)
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October 31
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October 1
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October 31
|
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Q4 2024 (Oct – Dec)
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January 31
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January 1
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January 31
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Additional information regarding filings and payments in SLIP and training opportunities will be provided prior to the SLAS implementation on January 1, 2024. If you have any questions or need additional information, please contact info@slasclearinghouse.com, or call (877) 267-9855, option 1. You may also contact the Oklahoma Insurance Department at OKSurplusLines@oid.ok.gov with any questions regarding this bulletin.
***If your filing contains any policy with an effective date prior to January 1, 2024, it must be submitted in OPTins for review.***
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