Captive Premium Tax, Fees, and Minimum Required Capital
* Minimum premium tax is $5,000 and maximum premium tax is $100,000. ** No maximum premium tax is applicable to protected cell captives. *** Premium tax filings are due March 1.
Iowa Captive Insurance Company Premium Tax Rates
In Millions
Direct Premium Tax Rate
Assumed Premium Tax Rate
$0 - $20
0.35%
0.20%
$20 - $40
0.25%
0.125%
$40 - $60
0.25%
0.045%
$60+
0.25%
0.02%
* Minimum premium tax is $5,000 and maximum premium tax is $100,000. ** No maximum premium tax is applicable to protected cell captives. *** Premium tax filings are due March 1.
Captive Company Fees
Captive Company Fees
All Captive Types other than LCRCs
LCRCs
Certificate of Authority Application Fee
$200
$2,500
Annual Renewal Registration Fee
$300
$2,500
* These fees apply to each captive, each individual series of members of a limited liability company, and each protected cell. ** Outside legal, financial, and examination services may be utilized, and the reasonable cost may be charged to the applicant.
Minimum Required Capital
Minimum Required Capital and Surplus by Captive Type:
Pure Captive
$250,000
Industrial Insured Captive
$500,000
Life Captive Reinsurance Company
$5,000,000
Protected Cell Captive*
$100,000
Risk Retention Group
$500,000
Branch Captive
The same as required above for the organizational form of the alien captive.
Special Purpose Captive
Determined after considering the business plan, feasibility study, pro forma documents, and the nature of the risk.
Contact Us
For more information about Captive Insurance in Iowa, please contact our Captive Director, Jeff Wilson at [email protected]
