BULLETIN OPTins filing for Premium Taxes

Collection: Executive Agency Records
Sub-shelf: ltg.gov.vi (Internet Archive recovery)
Kind: Government Report
Pages: 2
Text: OCR Text

Download the original document · Plain text (TXT) · Browse the archive · How this archive works

Original source: https://web.archive.org/web/20130323043154id_/http://ltg.gov.vi:80/downloads/forms/b&i/BULLETIN%20-%20OPTins%20filing%20for%20Premium%20Taxes.pdf

SHA-256 917f4a9c17b8792e1ff172b3d4d78e025c7dbab4e63462583a561d294f554915

Re-using this document

A public record of the Government of the Virgin Islands, published by the agency itself. No copyright is asserted on it and 17 U.S.C. § 105 does not reach territorial government, so it publishes as a territorial public record.

Our description, tagging, arrangement, extracted text and machine transcripts are released under CC0 1.0. We assert nothing about the document itself.

Archive identifier LF-917f4a9c17b8

Document text

OFFICE OF THE LIEUTENANT GOVERNOR UNITED STATES VIRGIN ISLANDS GREGORY R. FRANCIS COMMISSIONER OF INSURANCE LIEUTENANT GOVERNOR CHAIRMAN, V.I. BANKING BoARD BULLETIN 2012-03 THE VIRGIN ISLANDS DIVISION OF BANKING AND INSURANCE ACCEPTS ONLINE PREMIUM FILINGS AND TAX PAYMENTS TO: All Admitted Insurers and Surplus Lines Brokers DATE: August 31, 2012 EFFECTIVE: November 1, 2012 RE: OPTins - Online Filing for Premium Tax — Admitted Insurers and Surplus Lines Brokers Taxes Pursuant to Sections 603 and 662, Title 22 of the Virgin Islands Code, the Division of Banking and Insurance (“Division” ) is responsible for collecting tax on gross receipts premiums from all insurance companies and other regulated entities that are authorized, approved or registered to transact business in the Territory. This includes responsibility for the timely preparation, collection, recording, analysis and reporting of all insurance premiums, taxes and associated fees, including Surplus Lines Broker’s premium tax. The Division is in the process of implementing OPTins (Online Premium Tax for Insurance) for Insurance Companies. OPTins was developed by the National Association of Insurance Commissioners (NAIC) to facilitate the electronic submission of required filings and payments that are due quarterly and annually. OPTins offers the industry the ability to electronically submit their premium tax forms and payments to the states. All forms will be transmitted as PDF files and payments will be transmitted via electronic funds transfer (EFT). While filings may still be submitted by mail, the Division encourages companies and regulated entities to begin using the OPTins system for 3rd Quarter 2012 (November 1, 2012) premium tax and fees. OPTins charges a nominal fee to use this service. No 1105 KING STREET, CHRISTIANSTED, ST. CROIX, VI 00820 © TEL.: 340-773-6449 ¢ FAx: 340-773-0330 No. 18 -KONGENS GADE, CHARLOTTE AMALIE, ST. THEMAS, VI OO8O2 ¢ TEL.: 340-774-2991 © Fax: 340-774-6953 WWW.LTG.GOV.VI OPTins Online Filing for Premium Tax Using OPTins is very simple and requires no formal training. Instructions are available at http://www.optins.org. Once you are registered and have set up an account, you will be 2 able to log in, upload your filing forms and submit your payment online. Utilizing —— OPTins will save time and ensure that tax forms and payments are received together and on time. To implement OPTins, contact the OPTins Marketing Team at optinsmktg@naic.org or call 816-783-8787. Contact the Division at (340) 774-7166 with questions regarding this notice. regory R. Francis Lieutenant Governor/Commissioner of Insurance