Thursday, March 08, 2012

Michigan to Implement NAIC OPTins System for Payment of Surplus Lines Taxes

The Michigan, Office of Financial and Insurance Regulation (OFIR) has issued a notice that the method of accepting surplus lines taxes  is changing. In the February 21 notice, Michigan announced it will be moving forward with the elimination of the manual paper filing of surplus lines taxes and payments.

Beginning July 1, 2012 the Michigan OFIR said filing and payments will be made using the National Association of Insurance Commissioners (NAIC) OPTins (Online Premium Tax for Insurance) application. The notice said each individual or business entity submitting taxes will be required to transmit them electronically via ACH, credit or debit and that details are available on the NAIC OPTins website at

The state said more information will be announced on its website and sent via email soon and encouraged each licensee to ensure the email address on file with our office is current to ensure receipt of future notifications regarding the new OPTins filing process. Firms confirm the email address by contacting OFIR toll free at 877/999-6442.

No comments: