Get the free FORM INS-4 INSURANCE PREMIUMS TAX RETURN - maine

FORM INS-4 MAINE GENERAL INSTRUCTIONS WHO MUST FILE Except captive insurance companies and risk retention groups, every insurance company, association, producer or attorney-in-fact of a reciprocal

Filing of these returns is required whether the insurer is in Maine or any other state. If you are a reciprocal insurer, the return you file is for your company in Maine. The return you submit must disclose the following information: Effective date, the amount of all payments and the rate of all payments; The number of policyholders enrolled in the plan; and The gross liability, the premium, and the rate of premium paid. However, no amount is disclosed that is paid on a self insurer basis and that is greater than the actual premiums paid on the policy. The information listed under “Annual returns” (lines 8 through 11) includes the same information you are required to report on each quarterly return you file pursuant to this section. EXAMPLE: A mutual insurance company has a policy described in Form INS-1. The insurer has a policyholder for each of the policy's policy years. The insurer's annual return for that period must report the information below: Effective date Amount of insurance policy premiums on the policy effective date Amount of insurance company reserves on the policy amounts paid before the end of the year Amount of dividends paid to a mutual insurance company's stockholders Amount of gross liability the insurer assumed on the policy (not included in the amount reported for the insurer's gross liability) Amount of gross expense the insurer incurred on the policy that is not included in the coverage of the insurer's insurance premium (gross expenses are not included in the net loss for that period); and Gross premiums paid and paid or accrued Gross premiums retained in account Gross premium paid and paid or accrued The gross premiums paid on the policy and the gross premium retained in account must exceed 10,000 per year. If the amount reported for gross premiums was less than 1,000, the return is required to be furnished by the last day of the insurer's taxable year, not the close of the insurer's fiscal year. Filing the return is voluntary on your part. You are not required to file the return for the insurer if you choose not to do so. The return is due the 15th day of the fourth month following the year in which the return is filed or, if the return is filed before the 15th day of the fourth month, the return is due on the 20th day of the third month preceding the third month the return is filed.

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What is form ins-4 insurance premiums?

Form INS-4 insurance premiums is a document that must be completed by insurance companies to report the amount of premiums received during a specific period.

Who is required to file form ins-4 insurance premiums?

Insurance companies are required to file form INS-4 insurance premiums.

How to fill out form ins-4 insurance premiums?

To fill out form INS-4 insurance premiums, insurance companies should provide accurate information about the premiums received during the reporting period.

What is the purpose of form ins-4 insurance premiums?

The purpose of form INS-4 insurance premiums is to allow regulatory authorities to monitor and analyze the premium income of insurance companies.

What information must be reported on form ins-4 insurance premiums?

Form INS-4 insurance premiums requires insurance companies to report detailed information about the premiums received, including the amount, source, and type of premiums.

When is the deadline to file form ins-4 insurance premiums in 2023?

The deadline to file form INS-4 insurance premiums in 2023 is April 15.

What is the penalty for the late filing of form ins-4 insurance premiums?

The penalty for the late filing of form INS-4 insurance premiums is a fine of $100 per day, up to a maximum of $5,000.

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