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, and are due 180 days after fiscal year end for all others.
| FILING TYPE | DUE DATE |
| Premium Tax Form | 1-Mar |
| Business Plan | 1-Mar |
| Annual Report | June 30 or 180 days after FYE |
| Audited Financials | June 30 or 180 days after FYE |
| Actuarial Opinion | June 30 or 180 days after FYE |
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