What are the premium tax filing requirements if companies merge during the calendar year?
If only one annual statement will be filed by the surviving company, the surviving company may file a single premium tax return at year-end as usual (March 1), which includes premium data for both the survivor and the merged company(s). A schedule should be attached which shows any quarterly prepayments that had been made by the merged company(s), as well as any Guaranty Fund Credits that were transferred to the surviving company. Include a cover sheet explaining the details of the merger. If separate annual statements are being filed, each company should file an individual tax return. Mark the form for the merged company(s) “FINAL RETURN”. The lines for the $550.00 Fraud fee, and the $100.00 annual continuation fee should be marked $0.00, however, the company must pay the $100.00 annual statement filing fee. Separate checks for premium tax should be sent. Include a cover sheet explaining the details of the merger.
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