Implementation of Premium Tax Payment and Filing Program (OPTins)

MIA BULLETIN 18-05 TO: TO ALL PERSONS SUBJECT TO MARYLAND PREMIUM TAX SUBJECT: IMPLEMENTATION OF PREMIUM TAX PAYMENT AND FILING PROGRAM DATE: FEBRUARY 23, 2018 This Bulletin is applicable to any person that is required by the Insurance Article, Annotated Code of Maryland, to report and pay premium tax and/or retaliatory tax. The Maryland Insurance Administration (MIA) is implementing OPTins (Online Premium Tax for Insurance) for reporting and payment of premium tax. OPTins, a product of the National Association of Insurance Commissioners (NAIC), facilitates filing of state-specific forms and payments. The MIA requests the use of OPTins to pay your Premium Tax for 2018. OPTins will soon be available for the first-quarter estimated declaration and payment due by April 15, 2018. While OPTins will be available for the 2018 quarterly tax filings as discussed above, it will not be available for Annual Premium Tax Statement filings for 2017 premium tax reporting. OPTins offers efficient and seamless electronic form and payment submission. The steps to submit your tax filing are simple and require no formal training. Easy-to-follow instructions are available at: www.optins.org. In order to use OPTins, you must register for a new account. It is important to register early because it takes 7-10 business days for a newly established account to be available for use. If you already use OPTins in another state, you do not need to re-register and can file Maryland Premium Tax when ready. If you have questions regarding how to set up a new account, please contact the OPTins Marketing Team at optinsmktg@naic.org or 816-783-8787. AL REDMER, JR. Commissioner NANCY GRODIN Deputy Commissioner VINCENT P. O’GRADY Associate Commissioner Examination and Audits LARRY HOGAN Governor BOYD K. RUTHERFORD Lt. Governor 200 St. Paul Place, Suite 2700, Baltimore, Maryland 21202 Direct Dial: 410-468-2153 Fax: 410-468-2112 Email:philip.ermer@maryland.gov 1-800-492-6116 TTY: 1-800-735-2258 www.insurance.maryland.gov Once registered and set up, you will be able to log in, upload your filing forms, and submit your payment online. There will be no need for paper checks – the process is electronic. Once submitted by the company on OPTins, tax forms and payment are received by the MIA immediately. Questions or comments regarding this bulletin should be directed to: Philip M. Ermer Executive Director, Premium Tax & Company Licensing Maryland Insurance Administration 200 St. Paul Place, Suite 2700 Baltimore, MD 21202 philip.ermer@maryland.gov 410-468-2153 AL REDMER, JR. Commissioner _ ______ By: Vincent P. O’Grady Associate Commissioner, Examination & Audits signature on original