Annual Reports, Fees, and Taxes
Annual Filing Requirements
Like all insurance
companies, captive insurers are subject to annual reporting requirements to
ensure they are meeting the regulatory guidelines and requirements established
by law. There are five documents which
must be filed every year. The first two
are the annual business plan and premium taxes, which are due on March 1st
for all captive insurers. The last three are the annual report, audited financials, and actuarial opinion for reserves and pricing which are all due by June 30th for companies whose fiscal year ends on 12/31. Alternate reporting due dates may be requested for companies whose FYE do not match the calendar year.
Companies should upload their annual filings to their Sircon profile through the Financial Filing Submission Portal at: Nevada Department of Insurance - Financial Filing Submission Portal. A pin will be required to access the account, which can be obtained from the Division upon request from a valid officer or agent.
Financial Filing Submission Portal
Submissions made using this service will automatically update the official filing record for your company maintained at the Nevada Division of Insurance.
The Portal page will provide a list of documents, with due dates, available for online submittal.
Note: The Portal’s Reporting Year identifies the year filings are due to the Division.
| FILING TYPE | DUE DATE |
| Premium Tax Form | March 1st |
| Business Plan | March 1st |
| Annual Report | June 30th or alternate upon request |
| Audited Financials | June 30th or alternate upon request |
| Actuarial Opinion | June 30th or alternate upon request |
Fees
There are two types of fees which must be paid by captive insurers, which include the original application fee, and an annual license renewal fee which must be paid by March 1st of each year.
| APPLICATION FEES AND RENEWAL FEES | |
| Application Fee | $1,050 |
| This includes: | |
| Application Fee $500 | |
| License Fee $300 | |
| Initial Administration & Enforcement $250 | |
| Annual License Renewal Fee | $550 |
| This includes: | |
| License Renewal $300 | |
| Annual Administration & Enforcement $250 | |
Premium Tax Rates
- Premium taxes need to be filed on or before March 1 every year, per NRS 694C.400.
- Nevada Captives receive a $5,000.00 credit on their first annual premium tax filing.
- The minimum aggregate tax for any year is $5,000.
- The maximum aggregate tax for any year caps at $175,000.
- Captives use the Division’s Premium Tax Form, found on our Forms and Resources page.
| $ MILLIONS | DIRECT RATES % | REINSURANCE RATES |
| 0-20 | 0.4 | 0.255 |
| 20-40 | 0.2 | 0.15 |
| Over 40 | 0.075 | 0.025 |
To pay fees by ACH, contact the Division’s accounting section at IFN@doi.nv.gov for instructions.
To pay fees by check or money order, make checks payable to the Nevada Division of Insurance, and mail payments to:
NV Division of Insurance
Attn: Captives
1818 East College Parkway, Suite 103
Carson City, NV 89706
Check out
these pages to find out more about Nevada Captives:
About Nevada Captives
Types of Captives
Application Process
Annual Reports, Fees, and Taxes
Captive Service Providers
Forms and Resources
Frequently Asked Questions
Meet the Team
Additional
Links:
Nevada Captive Insurance Council
Captive.com
Nevada Revised Statute 694C
Nevada Administrative Code 694C
Nevada Governors Office of Economic Development