Bulletin 2010-12 On-line Premium Tax Return Preparation

[LOGO] South Carolina Department of Insurance Capitol Center 1201 Main Street, Suite 1000 Columbia, South Carolina 29201 MARK SANFORD Governor SCOTT H. RICHARDSON Director of Insurance Mailing Address: P.O. Box 100105, Columbia, S.C. 29202-3105 Telephone: (803) 737-6160 # BULLETIN NUMBER 2010-12 TO: All Insurance Companies and Health Maintenance Organizations Licensed to Conduct Business within the State of South Carolina FROM: Scott H. Richardson, CPCU Director Scott H. Richardson SUBJECT: On-line Premium Tax Return Preparation DATE: October 12, 2010 Effective February 15, 2011, the South Carolina Department of Insurance (Department) will implement an online premium tax application. Via this application, insurers will be able to prepare and submit their premium tax returns electronically. This system will be operational for premium tax returns due March 1, 2011. Insurers will not be able to log into this process until February 15, 2011. The applicable instructions may be accessed via the Department's website at www.doi.sc.gov at a later date. This online premium tax process will enable insurers to complete the applicable premium tax return on line and pay the taxes due by electronic check, paper check, or credit card by using their User ID and Password. If the insurer does not remember the User ID and/or Password, please email the Department's Information Resource Management Division at www.irmmail@doi.sc.gov. Please take the steps necessary to protect your ID and password. Insurers paying by ACH that have blocks on their bank account should use the following information to allow the Department to successfully debit their account: - Trading Partner Originating Company Name: SC State Department of Revenue - Trading Partner Originating Company ID: 5570882454 Any questions about the content of this bulletin should be directed to the Department's Office of Taxation at (803) 737-6082. Please forward a copy of this Bulletin to the person in your company responsible for preparing and filing your 2010 Premium Tax Form and 2011 Quarterly Tax Return documents. Bulletins are the method by which the Director of Insurance formally communicates with persons and entities regulated by the Department. Bulletins are departmental interpretations of South Carolina insurance laws and regulations and provide guidance on the Department's enforcement approach. Bulletins do not provide legal advice. Readers should consult applicable statutes and regulations or contact an attorney for legal advice or for additional information on the impact of that legislation on their specific situation.