The Premium Tax Unit oversees all reporting and premium tax remittance to the Oklahoma Insurance Department. All filings are mandated to be submitted electronically via the OPTins website https://www.optins.org/, except as noted.
All licensed insurers and HMOs are subject to Annual Statement Filings including annual reporting and premium tax remittance per Oklahoma Title 36.624. Click on the appropriate company type below for the applicable NAIC checklist for 2024 Annual Statement Filings required by Oklahoma:
State-required quarterly and annual premium tax reporting forms reside on the OPTins site. Filing deadlines are stated on the NAIC checklist.
Additional forms which may be applicable include:
All licensed captive insurers are subject to annual reporting and premium tax remittance per Oklahoma Title 36-6470.19 through 36-3470.20. Submission is mandated via OPTins. All required state-provided forms reside on the OPTins webpage. Annual filing is due March 1 each year. Check the Captive Insurance page for additional information.
The Financial Division is responsible for overseeing the regulation of Surplus Lines Carriers.
The Licensing Division oversees the issuance of new and renewal licenses for resident and non-resident producers, adjusters, and business entities. The Licensing Division is also responsible for Surplus Lines Bonds.
In accordance with 36 O.S. § 1115, a surplus lines broker must report all business and premium tax must be remitted every quarter per OAC 365:25-3-13(d). Per Administrative Order 16-353-PRJ, electronic reporting is required.
- All policies and endorsements on policies effective on or after January 1, 2024, shall be reported to the Oklahoma Insurance Department using the SLIP Platform.
- Policies, or endorsements to policies effective prior to January 1, 2024, should continue to be reported to the Oklahoma Insurance Department using OPTins.
- Quarterly reports of zero business are not required.
All individuals and business entities that held an active license at any point throughout the year must file an annual tax report even if zero business was reported. Annual tax reports are due on or before April 1 of each year and filed electronically through OPTins.
In accordance with 36 O.S. § 1100.1(3) Independently procured insurance (direct placement) refers to insurance procured by an insured directly from a non-admitted insurer and should be reported with premium tax remittance per 36 O.S. §1115 and OAC 365:25-3-13(f).
The Oklahoma Insurance Department considers the term Direct Placement to be equivalent to Independently Procured Insurance. Please note, if a surplus lines broker is involved in the transaction in anyway, including acting as a consultant, the transaction must be reported by the surplus lines broker and is not considered an independent procurement. See Bulletin No. 2013-09 for clarification on the sale, solicitation, and negotiation of insurance.
- Premium tax remittance and filings for all policies, or endorsements to policies effective prior to January 1, 2024, should continue to be reported by mail.
- Premium tax remittance and filings for all policies or endorsements to policies effective on or after January 1, 2024, shall be reported using the SLIP Platform. For more information, contact: firstname.lastname@example.org.
The Oklahoma Insurance Department has received an increase in inquiries regarding annual tax filings for Surplus Lines since the release of Bulletin 12-2023: ADOPTION OF SLIP PLATFORM FOR REPORTING AND PAYMENT OF SURPLUS LINES TAXES. Additional information is provided below:
- Are annual tax filings still required? All individuals and business entities that held an active license at any point throughout the year must file an annual tax report even if zero business was reported.
- How do I submit my annual tax report? The 2023 annual tax report will be filed through OPTins as usual and due by April 1. Continue to check website for additional information regarding 2024 annual filings due April 1, 2025.
Please send all Surplus Lines questions to: OKSurplusLines@oid.ok.gov