The date that a Captive is licensed is the date filing responsibilities commence. If a Captive is licensed in the year 2010 the captive must meet the filing requirements for 2010.
Domestic Captive Insurance Companies
(other than RRGs and Association Captives)
Special Purpose Financial Captives
Serialized Business Units
Risk Retention Groups and Association Captives
Branch Captive Company Filing Requirements
ANNUAL FRANCHISE TAX (for Delaware Corporations)
For companies incorporated in Delaware, the Division of Corporations Annual Franchise report and taxes are due on March 1st of the following year. A captive that is a Delaware corporation does not pay franchise taxes, but THE CAPTIVE MUST FILE THE CORPORATE ANNUAL REPORT AND PAY A $50.00 FILING FEE on or before March 1st each year. The forms are at http://www.corp.delaware.gov/default.shtml.
Limited Liability Companies, Trusts and other formations do not require the filing of annual reports with the Division of Corporations.
PREMIUM TAXES
Premium taxes are due for the year that the captive is licensed on the following March 1st. Even a Captive that is licensed on December 31, 2010, for example, is required to meet all of the filing requirements listed on the link below on or before March 1, 2011. That includes an Annual Report, the minimum Premium Tax for the entity, and the $300.00 annual renewal fee. The Audited Financials and the Actuarial Opinion in the above example are due on June 30, 2011.
Domestic Captive Insurance Companies (including RRGs and Association Captives)
The most current Captive Annual Form can be found in the Forms section of this page by clicking Captive Insurer link.
ANNUAL REPORT
The Annual Report is an Excel workbook for every Captive company (except RRG and SPFC companies filing NAIC Reports) and must be completed and delivered to the Delaware Captive Insurance Bureau by March 1st annually.
Annual Report
RRGs file annual and quarterly reports with NAIC and us by March 1, May 15, August 15 and November 15.
SPFCs file annual and quarterly reports on the NAIC Life Annual Statement blank on March 1, May 15, August 15, and November 15.
