IA | The time has come for Iowa surplus lines agents to submit their 2018 premium taxes for year ending December 31, 2018. Iowa has mandated OPTins (Online Premium Tax for Insurance) as the premium tax reporting and payment system.
PLEASE NOTE: Surplus Lines agents should submit filings under the name of the licensed insurance producer. Purchasing groups can file under the name of the licensed insurance producer or the name of the purchasing group. Risk retention groups should file under the name of risk retention group. Independently/self-procured taxes should be filed under the name of the business that directly secured the coverage.
Premium taxes are due annually from January 1 to March 1 of the year following when the business was written.
If you need to setup an OPTins account, contact the marketing team at firstname.lastname@example.org or call (816) 783-8787. Setup of a new account may take 7-10 business days for completion. If you already use OPTins, you do not have to contact the marketing team for account information; just click on ‘OPTins Login’ at https://optins.org/ and enter your Username and Password.
If your filing is not received by March 1st, a 1% late filing penalty will be assessed on the total amount of premium taxes past due times the number of months until paid.