All insurance companies that issue insurance policies or annuities to fund preneed purchase agreements sold by a preneed seller (funeral home/cemetery) must submit an annual report to the Iowa Insurance Division pursuant to Iowa Code §§ 523A.401 and 523A.402.
Filing the Annual Report in OPTins
The Division requires the use of OPTins (Online Premium Tax for Insurance) for the submission of the insurance company annual report. OPTins is a secure Web application, using 128-bit SSL encryption, which facilitates the submission of premium tax, surplus lines, and other state-specific filings and payments to participating states.
If you do not have an OPTins account, contact the OPTins Marketing Team at optinsmktg@naic.org or call 816-783-8787 and leave a message. Setup of a new account may take 7-10 business days. If you already use OPTins, you do not need to contact OPTins Marketing; just enter your username and password at OPTins User Login.
In OPTins, a financial institution will be able to download the annual report template to enter the required information and upload a completed annual report. OPTins charges a flat fee of $17.95 per filing. For your convenience, step-by-step instructions to access and submit the financial institution annual report have been created.
All annual reports must be filed under the insurance company’s name.
Frequently Asked Questions
Questions: If further information is needed regarding the filing of a report, you may contact: riu@iid.iowa.gov or call 515-654-6472.