Extension of Deadline for Filing Annual Report and Premium Tax Payment for Filing Year 2018

Trinidad Navarro Commissioner Delaware Department of Insurance # CAPTIVE INSURANCE BULLETIN NO. 9 TO: ALL CAPTIVE MANAGERS, AUDITORS, AND ACTUARIES ACCREDITED IN DELAWARE, AND ALL MEMBERS OF THE DELAWARE CAPTIVE INSURANCE ASSOCIATION RE: EXTENSION OF DEADLINE FOR FILING ANNUAL REPORT AND PREMIUM TAX PAYMENT FOR FILING YEAR 2018 DATED: FEBRUARY 6, 2018 Captive insurance companies are required to file an annual report and pay an annual premium tax payment no later than March 1 (see 18 Del. C. 6907 and 6914). House Bill 289 extends the annual filing and tax payment deadlines to any time prior to April 15. In anticipation of the final enactment of House Bill 289, the Commissioner, with this Bulletin, is extending this year's annual reporting deadline and tax premium payment deadline from March 1, 2018 to April 15, 2018. To take advantage of the deadline extension, a captive insurer: - Must notify the Department of Insurance no later than March 1, 2018 of its intent to take advantage of the filing deadline. Each notice must: o Be sent to the Department by electronic mail message, to BOTH the captive resources inbox at captive@state.de.us AND to the captives tax section at DOI_CaptiveTax@state.de.us (do NOT send the message to any other Department email address); o Include the following in the email subject line - "Extension per Captive Insurance Bulletin No. 9"; and o Clearly include, either in the body of the email or as an excel spreadsheet attachment, information that identifies the captive insurer by name, certificate of authority number, and taxpayer identification number. Notice for more than one captive insurer may be included in a single email. - File the annual report and pay the premium tax no later than April 15, 2018. Note that the Department will not send confirmation of receipt of a captive's notice. n excel spreadsheet attachment, information that identifies the captive insurer by name, certificate of authority number, and taxpayer identification number. Notice for more than one captive insurer may be included in a single email. - File the annual report and pay the premium tax no later than April 15, 2018. Note that the Department will not send confirmation of receipt of a captive's notice. This bulletin does not: 1) apply to risk retention groups or any captive insurer that files an annual statement using the National Association of Insurance Commissioners annual statement blanks; 2) change the June 30, 2018 filing deadline for audited financial statements or actuarial opinions; or 3) impact any reports, taxes, or fees that a captive is required to submit or pay to the Delaware Division of Corporations. Questions concerning this bulletin may be directed to Steve Kinion, Director of the Bureau of Captive and Financial Insurance Products, at steve.kinion@state.de.us or 302-577-5258. Trinidad Navarro Trinidad Navarro Insurance Commissioner NOTE: This Bulletin is intended solely for informational purposes. It is not intended to set forth legal rights, duties, or privileges, nor is it intended to provide legal advice. Readers should consult applicable statutes and rules and contact the Delaware Department of Insurance if additional information is needed. 841 Silver Lake Blvd., Dover, DE 19904-2465 ♦ www.insurance.delaware.gov (302) 674-7300 Dover ♦ (302) 739-5280 fax ♦ (302) 577-5280 Wilmington