WAC 208-544-020. Semiannual asset charge—Assessment

(1) The semiannual assessment shall be computed using the asset value reflected in the most recent report of condition. The director may adjust such rates if the director determines that a disproportionate amount of revenue is being collected. The rate of charge is set forth in the following schedules: (a) Commercial banks, savings banks, savings associations, and alien banks. If the institution's total assets are: The semiannual assessment is: Over this amount (in millions) But less than this amount (in millions) This amount Plus the excess over (in millions) Multiplied by this rate $0 $500 ---- ---- .000017464 $500 $1,000 $8,732 $500 .000016746 $1,000 $10,000 $17,105 $1,000 .000016495 $10,000 ---- $165,560 $10,000 .000 The semiannual assessment is capped at $165,560. If the institution's total assets are: The semiannual assessment is: Over this amount (in millions) But less than this amount (in millions) This amount Plus the excess over (in millions) Multiplied by this rate $0 $500 ---- ---- .000017464 $500 $1,000 $8,732 $500 .000016746 $1,000 $10,000 $17,105 $1,000 .000016495 $10,000 ---- $165,560 $10,000 .000 The semiannual assessment is capped at $165,560. (b) Trust companies. Total assets under management Semiannual assessment charge $0-125 million $125 $125-250 million $250 $250-500 million $500 $500 million - 1 billion $1,000 $1-2 billion $2,000 $2-3 billion $3,000 $3-4 billion $4,000 $4-5 billion $5,000 Trust companies pay $1,000 for each additional $1 billion under management. Annual assessments are capped at $100,000. Total assets under management Semiannual assessment charge $0-125 million $125 $125-250 million $250 $250-500 million $500 $500 million - 1 billion $1,000 $1-2 billion $2,000 $2-3 billion $3,000 $3-4 billion $4,000 $4-5 billion $5,000 Trust companies pay $1,000 for each additional $1 billion under management. Annual assessments are capped at $100,000. (2) Assessments and statements of condition shall be remitted to the division in accordance with the following: (a) The division shall provide an official notice of assessment to each financial institution in the months of June and December of each calendar year. (b) The financial institution shall calculate the assessment amount due using the most recent statement of condition. (c) The assessment payment shall be remitted to the division in accordance within the dates specified by the notice along with the statement of condition used to calculate the assessment. (d) A fifty dollar fee shall be charged for each day a regulated institution fails to file the assessment payment and statement of condition after the deadline to file has passed, as set out under RCW 30.08.190 (3).