Bulletin 2010-13 On-line Premium Tax Return Preparation (Captives)

To: From: Subject: Date: South Carolina Department of Insurance Capital Center 1201 Main St. Snite 1000 Columbia, South Carolina 29201 Mailing Address: P.O. Box 100105, Columbia, S.C. 29202-3105 Telephone: (803) 737-6175 Bulletin Number 2010-13 \1ARK SANFORD Governor SCOTT H. RICHARDSON Director of Insurance All Captive Managers and Captive Insurers Authorized to Transact Captive Insurance Business in South Carolina Scott H. Richardson, Director On-line Premium Tax Return Preparation November 3, 2010 Effective February 15, 2011, the South Carolina Department ofinsurance ("Department") will implement an online tax application. By way of this application, captive insurers will be able to prepare and submit their premium tax returns electronically. This application will be operational for premium tax returns due March 1, 2011. Captive insurers will be able to log-on to the application after February 15, 2011. Instructions will be available, in the near future, on the Department's website at www.doi.sc.gov. The online application will enable captive insurers to complete the premium tax return on-line and pay the taxes by electronic check, paper check, or credit card. The captive insurer will need their user ID and password to access the application. The user ID and password were provided with the Certificate of Authority at the time of licensing. Please e-mail the Department's Information Resource Management Division at ~~=====.:.==-'- for assistance with user IDs or passwords. Captive insurers paying by electronic check (ACH) that have blocks on their bank account should use the following infonnation to allow the Depmiment to debit their account: JJcn-trH>r Originating Company NaiUe: ~~~~~~~~~~~LE!~~~ Originating Company ID: ~"-==~-'- you have any questions about this bulletin, please contact the Department's Office of Taxation at 803-737-6082.