Premium Tax System

DAVID Y. IGE GOVERNOR SHAN S. TSUTSUI LT. GOVERNOR [LOGO] CATHERINE P. AWAKUNI COLON INTERIM DIRECTOR GORDON I. ITO INSURANCE COMMISSIONER # STATE OF HAWAIʻI # INSURANCE DIVISION DEPARTMENT OF COMMERCE & CONSUMER AFFAIRS P. O. BOX 3614 HONOLULU, HAWAIʻI 96811-3614 335 MERCHANT STREET, ROOM 213 HONOLULU, HAWAIʻI 96813 PHONE NO: (808) 586-2760 FAX NO: (808) 586-2808 www.hawaii.gov/docs/areas/ins # MEMORANDUM 2015-2E DATE: 1/15/2015 TO: Premium Tax Filers (THIS DOES NOT APPLY TO SURPLUS LINES TAX FILERS) FROM: Gordon I. Ito, Insurance Commissioner RE: Premium Tax System Beginning with the monthly premium tax statement for the month of January 2015, the Hawaiʻi Insurance Division will be implementing OPTins (Online Premium Tax for Insurance) for Insurance Companies filing Hawaiʻi premium tax statements, including the Monthly Statement (Form 323), the Annual Statement (Form 314), and the Workers Compensation Assessment (Form 315). You may continue to use TriTech Premium Pro software for 2015 tax statements. The tax statements will be routed to the Hawaii Insurance Division through the OPTins system. Continue to use our current system for monthly and annual tax statements for the year 2014. Please note for 2015, filings will be entirely electronic (statements and payments) or entirely manual (paper statements and paper checks). Electronic payments not transmitted through OPTins or TriTech will not be processed. ements will be routed to the Hawaii Insurance Division through the OPTins system. Continue to use our current system for monthly and annual tax statements for the year 2014. Please note for 2015, filings will be entirely electronic (statements and payments) or entirely manual (paper statements and paper checks). Electronic payments not transmitted through OPTins or TriTech will not be processed. OPTins, a product of the National Association of Insurance Commissioners ("NAIC"), has been developed to facilitate Premium Tax submission of forms and payments electronically. This is the Hawaiʻi Insurance Division's preferred method of filing tax statements for monthly statements (beginning with the month of January 2015) and we encourage you to use the OPTins system or the TriTech software which will be routed through the OPTins system. There is a $10 per submission fee that is charged for each premium tax and state specific filing. The below chart reflects the different options insurers have in filing their 2014 and 2015 premium tax statements. Please note that electronic statements with paper checks and paper statements with EFT payments will not be accepted. Monthly and Annual 2014* Electronic Statement and EFT Payment Paper Statement and Paper Check Electronic Statement and Paper Check Paper Statement and EFT Payment Monthly 2015 Electronic Statement and EFT Payment (via OPTins or TriTech) Paper Statement and Paper Check (with voucher) *=NOTE: All 2014 filings and payments, including the Annual 2014, must be submitted as it has been in the past, since 2014 forms will not be available in OPTins. Effective with the monthly statement for month of January 2015 (due February 20th), all statements that are electronically filed with OPTins or through TriTech will require an EFT payment. Although this is not our preferred method, insurers may continue to file paper statements to the Hawai'i Insurance Division only if accompanied with a paper check. nce 2014 forms will not be available in OPTins. Effective with the monthly statement for month of January 2015 (due February 20th), all statements that are electronically filed with OPTins or through TriTech will require an EFT payment. Although this is not our preferred method, insurers may continue to file paper statements to the Hawai'i Insurance Division only if accompanied with a paper check. The steps to submit your tax filing are simple and require no formal training. Once you are registered, simply log into OPTins with your assigned username and password, complete the state-specific tax forms, enter the applicable fee amount, and click "Submit." No more paper checks – everything is electronic and tax forms along with the payment are transmitted immediately upon submission by the company or licensee. Records of your submissions are available in OPTins or TriTech. Using OPTins allows you to save time and ensure that both the forms and payment are received together and on time. Instructions on implementing OPTins are available at: http://www.optins.org/getting_started.htm, or you may contact the OPTins Marketing Team at optinsmktg@naic.org or call (816) 783-8787. If you already use OPTins for other states, you do not have to contact OPTins Marketing; just login and file for Hawai'i. All filings with TriTech will be sent to the Hawaii Insurance Division through OPTins. However, Insurers will still need to register with OPTins to E-File. Registering with OPTins does not obligate you to use OPTins. For more information regarding registration, please contact the OPTins team via email optinsmktg@naic.org or phone (816) 783-8787. For further questions, please visit the OPTins FAQ page at: http://www.optins.org/faq.htm. Additional questions or comments applicable to this bulletin may be directed to: InsEFT@dcca.hawaii.gov s to E-File. Registering with OPTins does not obligate you to use OPTins. For more information regarding registration, please contact the OPTins team via email optinsmktg@naic.org or phone (816) 783-8787. For further questions, please visit the OPTins FAQ page at: http://www.optins.org/faq.htm. Additional questions or comments applicable to this bulletin may be directed to: InsEFT@dcca.hawaii.gov Although not required at this time, the Hawaii Insurance Division would prefer to receive all statements and payments electronically. Hawaii may require electronic filing and payment of premium taxes at a later date. The Hawaii Insurance Division encourages you to use OPTins or the TriTech system for all premium tax statement filings. The Hawai'i Insurance Division encourages readers of this notice to periodically check the Division's web site http://www.cca.hawaii.gov/ins/ for news, information, updates and other relevant material. Revised 1-15-2015