Get the free SURPLUS LINE BROKER RETURN OF GROSS PREMIUMS - tax ri

Form T-71A SURPLUS LINE State of Rhode Island and Providence Plantations for Calendar Year Ending December 31 2011 2011TY Due on or before April 1 2012 NAME ADDRESS CITY STATE ZIP CODE FEDERAL EMPLOYER IDENTIFICATION NUMBER/SOCIAL SECURITY NUMBER E-MAIL ADDRESS STATE OR COUNTRY OF INCORPORATION OR ORGANIZATION BROKER LICENSE NUMBER Computation of Tax 1. Gross premium charged. 1. 2. Returned Premiums. 2. 3. Net Taxable Premium Line 1 minus Line 2. Tax and Payments 5. Payments made on 2011...

How to fill out surplus line broker return

How to fill out SURPLUS LINE BROKER RETURN OF GROSS PREMIUMS

1. Gather all necessary documentation related to the gross premiums collected.
2. Identify the total amount of gross premiums received during the reporting period.
3. Determine the amount of any refunds, cancellations, or adjustments that apply.
4. Calculate the net premiums by subtracting any refunds or adjustments from the total gross premiums.
5. Fill out the Surplus Line Broker Return of Gross Premiums form accurately, ensuring all figures match your calculations.
6. Include any additional information required by your jurisdiction (e.g., broker information, policy details).
7. Review the entire form for accuracy before submission.
8. Submit the completed form to the appropriate regulatory authority by the deadline.

Who needs SURPLUS LINE BROKER RETURN OF GROSS PREMIUMS?

1. Surplus line brokers who deal with insurance that is not available from licensed insurers need to complete this return.
2. Insurance regulators and tax authorities require this return to ensure compliance with state regulations.
3. Businesses that use surplus line insurance policies for unique or high-risk coverage may also need to be aware of this process.

People Also Ask about

How to become a surplus line broker?

Qualifications: - Minimum Age: 18 years - Residency: California residency is not required - Experience: Must hold a Property Broker-Agent and Casualty Broker-Agent license in resident state - Entity Types: Individual and Business Entity Fees: Individual Application: $646 for Surplus line brokers who are only

What is the surplus line fee in California?

Surplus lines tax/Stamping Fee: 3.0% payable by broker to the CDI; stamping fee of 0.18% (effective Jan. 1, 2023), payable by broker to The Surplus Line Association of California (SLA).

What is surplus line tax in insurance?

Surplus Line Brokers, are licensed brokers that sell policies for non-admitted (non-licensed) insurance companies. Non-admitted insurance companies are insurers that are not licensed or admitted to conduct insurance business in California. Surplus line brokers also pay an insurance tax of three percent (3.00%).

What is a surplus line insurer in California?

What is a surplus line (nonadmitted) insurer? A: As defined in California Insurance Code Section 1760.1 (n), a surplus line insurer is an insurer not licensed or admitted in California. Such a carrier is licensed in another state or jurisdiction, just not in the insured's home state.

What does surplus lines broker mean in insurance?

A Surplus Line Broker is a person who places insurance with non-admitted insurers, covering risks other than aircraft and certain marine and transportation risks.

What is the purpose of a surplus line license?

Surplus Lines Carriers provide a market of last resort for risks that: (1) admitted insurers (i.e., insurers holding a certificate of authority to transact business in the state where a risk is located) (“Admitted Carriers”) are unwilling to underwrite, or (2) a state has determined are generally unavailable from

How much does a surplus line broker cost in California?

Fees -Individual Residents: License filing - two year term: $1,296, the fee for an individual surplus line broker that has a $50,000 bond on file. Renewal fee - two year term: $646, the fee for an individual surplus line broker who only transacts on behalf of a surplus line broker business entity.

For pdfFiller’s FAQs

What is SURPLUS LINE BROKER RETURN OF GROSS PREMIUMS?

SURPLUS LINE BROKER RETURN OF GROSS PREMIUMS is a report filed by surplus line brokers detailing the total gross premiums collected for insurance policies placed with non-admitted carriers. It ensures regulatory compliance and assists in the assessment of premiums to be taxed.

Who is required to file SURPLUS LINE BROKER RETURN OF GROSS PREMIUMS?

Surplus line brokers who place insurance coverage with non-admitted insurers are required to file the RETURN OF GROSS PREMIUMS. This requirement typically applies to brokers operating in jurisdictions where surplus line regulations are enforced.

How to fill out SURPLUS LINE BROKER RETURN OF GROSS PREMIUMS?

To fill out the SURPLUS LINE BROKER RETURN OF GROSS PREMIUMS, brokers must accurately report the total gross premiums collected, itemize each policy, provide information about the insured and insurer, and ensure all sections of the form are completed as per jurisdictional requirements.

What is the purpose of SURPLUS LINE BROKER RETURN OF GROSS PREMIUMS?

The purpose of the SURPLUS LINE BROKER RETURN OF GROSS PREMIUMS is to provide regulatory authorities with a comprehensive account of insurance premiums placed with non-admitted carriers, ensuring proper taxation and oversight of the surplus lines market.

What information must be reported on SURPLUS LINE BROKER RETURN OF GROSS PREMIUMS?

The information to be reported includes the total gross premiums collected, the names of the insured and insurer, policy numbers, the types of coverage provided, and the dates of policy inception and expiration, among other details specific to jurisdictional requirements.