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P.O. Box 1115
Richmond, Va. 23218-1115
(804) 367-8031 (Individual)
(804) 367-8037 (Business)
 
 
Feburary 2015 e-Alerts Digest         INSURANCE PREMIUMS LICENSE TAX
Filing Remindersten

For Surplus Lines Brokers, the following items for the Virginia Insurance Premiums License Tax are due March 2, 2015:
  • Surplus Lines Broker's Annual Reconciliation Tax report (Form 802) and tax due payment for any amount due.
File and pay your Form 802 electronically via eForms. 

Note: All registered brokers must file an annual Form 802 even if no premium income was collected during the calendar year. If the annual Form 802 is not filed by the due date, a $50 per day late filing fine will be assessed, along with a 10 percent penalty that will be added to the amount of unpaid tax.

For general information on filing and payment requirements administered by the Department of Taxation, visit our Insurance Premiums License Tax information page or contact our Insurance Tax Department. The Insurance Tax Department can be reached by phone at (804) 404-4163 or by e-mail at: insurance@tax.virginia.gov.
Filing Information and Tipseleven

When filing your 2014 Form 802, be aware of the following:


Registration


 If an individual holds a surplus lines broker license issued by the Bureau of Insurance (BOI), he or she must register with the Virginia Department of Taxation and obtain an assigned account number. These assigned account numbers usually start with the letter V. An agency will register with the department using its FEIN.


When filing your Surplus Lines Brokers Quarterly Tax Report (Form 801) or Surplus Lines Broker's Annual Reconciliation Report (Form 802), please include the correct account number and license number.


General Information


 Form 801 is used to file quarterly estimated payments for Surplus Lines Brokers. If your Form 801 amount equals zero OR a negative number, do not file a Form 801 for the quarter! 

 

Quarterly returns are generally due on the following dates: 

  • April 30
  • July 30
  • October 30
  • January 30 

Form 802 is a reconciliation of the filed quarterly returns, plus any additional premium or returned premium that has not been included on the quarterly returns.  


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