The following calendars summarize the recurring reporting, tax, and fee requirements applicable to Iowa-domiciled captive insurance companies. Certain filing deadlines vary based on the specific type of captive structure. Please refer directly to Iowa Code Chapter 521J and Iowa Administrative Rules 191—113 for authoritative statutory requirements.
Standard Captives
Includes Pure, Industrial Insured, Protected Cell, Branch, and Special Purpose Captive Insurance Companies
Reporting requirements and tax and fee for Includes Pure, Industrial Insured, Protected Cell, Branch, and Special Purpose Captive Insurance Companies
Due Date
Requirement / Filing Type
Description with Standard & Fiscal Filing Variations
March 1
Premium Tax Return
Covering the immediately preceding calendar year. This deadline applies to all companies and does not shift for fiscal filers.
Prior to April 1
Premium Tax Support Report
Standard Calendar Filers: Not required (covered in the April 1 Annual Report).
Fiscal Year-End Filers: If approved for a fiscal schedule, you must submit this calendar-year report by this date to support the March 1 tax return.
On or before April 1
Annual Financial Report
Standard Calendar Filers: Due April 1. Report on preceding year's financial condition, verified by two executive officers.
Fiscal Year-End Filers: If pre-approved, this report is due within 90 calendar days after the close of the approved fiscal year.
On or before April 1
Annual Registration Fee
Annual renewal fee of $300. Applies to each captive company, individual series of an LLC, and each protected cell. This deadline is fixed and does not change for fiscal filers.
On or before June 1
Audited Financial Report
Compiled by an independent, IID-approved certified public accountant (CPA). This deadline is fixed at June 1 regardless of calendar or fiscal year status.
On or before June 30
Statement of Actuarial Opinion
Standard Calendar Filers: Due June 30. Opinion from a qualified actuary regarding loss and loss adjustment expense reserves.
Fiscal Year-End Filers: If pre-approved, this actuarial statement is submitted within 180 calendar days after the close of the approved fiscal year.
Life Captive Reinsurance Companies (LCRCs)
LCRCs operate under a separate statutory framework (Subchapter II of Chapter 521J). They utilize Statutory Accounting Principles (SAP) and must file annual, quarterly, and specialized actuarial reports.
Life Captive Reinsurance Companies annual, quarterly, and specialized actuarial reports
Due Date
Requirement / Filing Type
Description & Specifics
March 1
Premium Tax Return
Subject to specialized gross premium tax rates under Iowa Code.
On or before March 1
Annual Financial Report (SAP) and RBC Filing
SAP-compliant annual statement covering the preceding calendar year, verified by the oath of two executive officers. Report on the company’s Risk-Based Capital (RBC), which must maintain a minimum of 2.5x the standard NAIC Life RBC formula.
On or before March 1
Annual Actuarial Opinion
Must submit an actuarial opinion from the company's qualified actuary regarding reserves for all assumed risks, accompanied by a supporting memorandum detailing the actuary's support.
On or before March 15
Actuarial Officer Certification
Required of each ceding insurer ceding new business to the LCRC, provided by a qualified actuary of the ceding insurer certifying the ceding insurer’s reserve calculations.
On or before April 1
Annual Renewal Fee
Annual statutory renewal and licensing registration fee of $2,500.
On or before April 1
Management's Discussion & Analysis (MD&A)
Written management’s discussion and analysis of the LCRC’s financial condition and results of operations for the preceding calendar year.
Biennially on April 1
Independent Actuarial Review of Methods and Assumptions
Biennial Requirement: Must submit an opinion by an independent qualified actuary (pre-approved by the Commissioner) reviewing and confirming the reserve methodology, methods, and assumptions used to set the LCRC's reserves.
On or before May 15
1st Quarter Financial Filing
First-quarter financial statement prepared in accordance with NAIC SAP.
On or before June 1
Audited Financial Report
Certified independent CPA audit verifying the LCRC's financial standing and solvency compliance, presented in accordance with NAIC SAP.
On or before August 1
Internal Control Report
Annual management report on internal controls over financial reporting, identifying any material weaknesses as of the end of the preceding year.
On or before August 15
2nd Quarter Financial Filing
Second-quarter financial statement.
On or before November 15
3rd Quarter Financial Filing
Third-quarter financial statement.
Captive Risk Retention Groups (RRGs)
Risk Retention Groups are regulated under Chapters 515E and 521J. They prepare GAAP-compliant financial statements and follow strict, front-loaded filing deadlines.
Captive Risk Retention Groups filing deadlines
Due Date
Requirement / Filing Type
Description & Specifics
March 1
Premium Tax Return
Covering the immediately preceding calendar year.
On or before March 1
Statement of Actuarial Opinion
Must file a statement of actuarial opinion concerning required reserves.
On or before March 15
Actuarial Opinion Summary
Required actuarial filing supplementing the March 1 opinion.
On or before April 1
Annual Financial Report
Must file a report of financial condition using the NAIC Annual & Quarterly Statements.
On or before April 1
Annual Registration Fee
Annual renewal fee of $300.
On or before June 1
Audited Financial Report
Compiled by an independent, IID-approved CPA and submitted as a supplement to the Annual Report.
On or before June 1
Reinsurer Audited Statements
RRG captive insurers must file their reinsurer's audited financial statements.
Dormant Captive Companies
A captive that has ceased transacting insurance business and has applied for and received a Certificate of Dormancy from the Commissioner.
Dormant Captive Companies Requirements
Due Date
Requirement / Filing Type
Amount / Description
On or before March 1
Annual Dormancy Tax
$1,000 annual flat tax due.
On or before March 1
Annual Maintenance Fees
$0 (Dormant captives are explicitly exempt from standard premium taxes and annual renewal registration fees).
Varies
Annual Report / Attestation
Must file a brief statement or simplified report as prescribed by the Commissioner to verify ongoing dormant status.
Contact Us
For more information about Captive Insurance in Iowa, please contact our Captive Director, Jeff Wilson at [email protected]
