The Iowa Insurance Division has implemented OPTins (Online Premium Tax for Insurance) for agents filing and paying Iowa Surplus Lines, Purchasing Groups, and Risk Retention Group Annual Premium Taxes. OPTins, a product of the National Association of Insurance Commissioners (NAIC), has been developed to facilitate Surplus Lines submission of forms and payments. Iowa has mandated the use of OPTins to file and pay your annual taxes and penalties.
OPTins will have your Iowa forms available to download by December 15 of each year, however, forms or payments should not be remitted until January 1. Premium taxes are paid annually and are due on or before March 1 of the year following when the business was written.
Follow the tax filing instructions available at www.optins.org. Once registered and set up, you will be able to log in, upload your filing forms and submit your payment online. Payments are required to be submitted online and are received immediately so please do not mail in to the Iowa Insurance Division any paper filings or check payments.
All surplus lines and purchasing group policy filings must be filed under the agent's name. All risk retention group and independently/self-procured policy filings must be filed under the company's name. If there is no business activity in the previous year, no tax reporting is required.
To implement OPTins, contact the OPTins Marketing Team at firstname.lastname@example.org or call (816) 783-8787. Setup of a new account takes 7-10 business days. If you already use OPTins, you do not have to contact OPTins Marketing; just enter your user name and password at OPTins.org.
The 2017 forms for the reporting of premium taxes are available and ready for use. Click on the appropriate form below and save to your computer. Please DO NOT upload the form or remit payment until January 1 to March 1, 2018.
Proceed to the OPTins webpage: http://www.optins.org/state_participation.htm