Iro organization

Foreign Purchasing Groups – Premium Tax Reporting Instructions 2021

New for 2021

The tax form has been updated to allow buyer groups to enter partial liability for premium tax, along with one or more other entities.

Submission requirements

All buying groups registered in Washington State during the calendar year must complete an online tax form, as provided by this office, even if no transactions were made in Washington during that time. Alternative deposit methods are not accepted.

Due date

The completed online form and payment must be received by the Office of the Insurance Commissioner (OIC) no later than March 1 following the end of the calendar year. When the due date falls on a Saturday or Sunday, the form and payment are considered timely if received the next business day.

Caution: Do not mail a paper version of the form or any attachments to our office.

Complete your premium tax form

The tax rate is 2%. The calculations for the Washington part of the form will be done automatically.

If you select “Print”, your form will print exactly as it appears on the screen, even if you haven’t saved your work.

The “Save Progress” button does not do not check for errors.

To remember: Save your work before exiting the form; your work is not automatically saved.

Purchasing group taxes

Premiums entered in this section should reflect all Washington business for the year. Premiums entered in this section should be broken down between buying group premiums and premiums where another entity is responsible for the taxes.

Buying Group Tax Instructions

Line name

State of residence

washington state

Purchasing group tax rate

Pre-populated by the OCI with the highest authorized tax rate

Pre-filled by OCI

Variable tax rate adjustment

If editable, enter an adjustment that results in the correct tax calculation on the last line of the schedule

n / A

Entities Responsible for Premium Tax Liability

If your buying group is not responsible for all or part of the premium tax and you have identified premiums for which another entity is responsible for tax, select “Add an entity”.

After selecting “Add entity”, enter the entity responsible for tax liability and the premium volume it is responsible for.

Select “Add entity” again if multiple entities are responsible for taxes. The total bonus awarded must match the bonus amount entered in the Taxes section of the buying group on the tax form.

Declaration and final submission

Review the statement and, if necessary, update contact information.

The contact details given here are the sole point of contact for the Commissioner of Insurance for premium tax purposes; please ensure the information is correct.

Enter the name and title of the officer who has reviewed the form and declares that to the best of his or her knowledge, the information is entirely true, accurate and complete.

Submit your form to the Commissioner of Insurance by clicking “Final Submission”.