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Washington Surplus Lines Tax Reporting & Requirements

Dec 06, 2017 Alerts

The Surplus Line Association of Washington at the request of the Insurance Department assists the Office of the Insurance Commissioner (OIC) in completing tax statements for surplus line brokers licensed in Washington. When the statements are available for payment you will be notified by the Insurance Department via email.

Surplus line premium tax statements for the State of Washington will be completed based on policies that were effective in 2017 as evidenced by a "certified" certification form and any other items that were registered by the Surplus Line Association of Washington in 2017 regardless of effective date, excluding special billings. Any policies that have been certified with a 2018 effective date will go on the 2018 tax statement. Please make sure you reconcile the tax statements to your records before paying the taxes.

In order to lock down tax statements for 2017, all policies that are transacted in 2017 and certified by January 31, 2018 will be included in your 2017 tax statement. Documents will not be required in order to be on the tax statement but will need to be uploaded as soon as available. The accounts without documents will not be registered, however for tax purposes you will have complied with the statutes. Please note that the filing is not complete until all TAGs are cleared and the policy is registered.

Per RCW 48.15.120, premium taxes are due March 1, 2018 based on all premiums transacted in 2017. Please visit the Washington Insurance Commissioner for more details and payment options: https://www.insurance.wa.gov/surplus-line-broker-reporting-and-tax-requirements

Do not send any tax payments to OIC.

As a reminder, you are responsible for paying taxes on all accounts procured in 2017 whether or not they have been reported. As instructed by the Insurance Department any policy transacted in 2017 that is not on your tax statement will be treated as a "special billing" which means a 20% tax penalty will apply. The OIC is doing audits of tax statements to make sure taxes are paid in the correct year.

If you need amendments to your tax statement, please print the Annual Tax Statement from SLIP, write in the correct amounts, include a spreadsheet detailing the changes and email the revised form to taxinfo@surpluslines.org. These transactions will subsequently be required to be entered in SLIP before we make the change.

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