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Minnesota Free Printable 2020 IG262, Fire Safety Surcharge Return for Mutual Companies for 2021 Minnesota Fire Safety Surcharge Return for Mutual Companies

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Fire Safety Surcharge Return for Mutual Companies
2020 IG262, Fire Safety Surcharge Return for Mutual Companies

IG262 2020 Fire Safety Surcharge Return for Mutual Companies For the period of (check one): Print or Type Jan. 1 – March 31, 2020 (Due May 15, 2020) April 1 – June 30, 2020 (Due Aug. 15, 2020) July 1 – Sept. 30, 2020 (Due Nov. 15, 2020) Oct. 1 – Dec. 31, 2020 (Due Feb. 15, 2021) Check if: Name of Insurance Company FEIN Minnesota Tax ID (required) NAIC Number State/Country of Incorporation Mailing Address Check if New Address City State Email Address Website Address Zip Code Amended Return No Activity Return Contact Person Daytime Phone Fax Number Note: Numbers in parentheses refer to line num- A B C D E Total Direct Dividends Net Direct % of Minnesota bers on NAIC Minnesota state page. Also include Premiums Premiums Fire Basis all finance and service charges. (A minus B) (C times D) 1 Fire (1) . . . . . . . . . . . . . . . . . . . . . . 1 100% Calculate the Surcharge 2 Allied lines a Crop (2.1) . . . . . . . . . . . . . . . . . . 2a 1% b Other than crop (2.1) . . . . . . . . . . . . 2b 3 Multi-peril a Farmowners (3) . . . . . . . . . . . . . . 3a 30% b Homeowners (4) . . . . . . . . . . . . . . 3b c Commercial nonliability (5.1) . . . . . . . 3c d Commercial liability (5.2) . . . . . . . . . 3d 4 Inland marine (9) . . . . . . . . . . . . . . . . 4 5 Ocean marine (8) . . . . . . . . . . . . . . . . 5 6 Earthquake (12) . . . . . . . . . . . . . . . . . 6 7 Auto physical damage (21.1-21.2) (total com mercial and private) or itemize combined auto comprehensive fire premiums (lines 7a-7f) . . 7 a Comprehensive fire, theft and miscellaneous (exclude collision) . . . . . 7a b Comprehensive fire, theft and miscellane ous with deductible (exclude collision) . . 7b 35% 35% 55% 35% 15% 15% 15% 7% 19% 35% c Fire and theft combined . . . . . . . . . . 7c d Fire, theft and miscellaneous . . . . . . . 7d e Fire . . . . . . . . . . . . . . . . . . . . . 7e 75% 50% 100% f Collision and others . . . . . . . . . . . . 7f 8 Aircraft physical damage (22) . . . . . . . . . 8 9 Other fire (itemize on a separate schedule) . . 9 % 10% % 10 Taxable fire premiums (add lines 1 through 9, column E) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 11 Surcharge rate (0.5%) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 .005 12 Fire insurance surcharge liability (multiply line 10 by the rate on line 11) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 13 Penalty (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 14 Interest (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 15 TOTAL AMOUNT DUE (or overpaid) (add lines 12 through 14) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 If you owe additional tax (make separate payments for each period): Payment method: Electronic payment Enter amount paid Check (payable to Minnesota Department of Revenue; write MN tax ID number on check; attach voucher) Date paid (If amount paid is different from line 15, attach an explanation.) If you overpaid: Overpayments will be refunded. Sign Here I declare that this return is correct and complete to the best of my knowledge and belief. Authorized signature Title Date Daytime phone Signature of preparer Print name of preparer Date Daytime phone Mail to: Minnesota Department of Revenue, Mail Station 1780, 600 N. Robert St., St. Paul, MN 55145-1780 I authorize the Minnesota Department of Revenue to discuss this tax return with the preparer. 2020 Form IG262 Instructions For insurance tax laws, see Minnesota Statutes, Chapter 297I at www.leg.state.mn.us. Filing Requirements All insurers that write or are authorized to write homeowners, fire and commercial nonliability insurance subject to Minnesota premium tax, must file a return even if no business is conducted during the tax year. This surcharge does not apply to Minnesota township mutual fire insurance companies organized under Chapter 67A. Mutual property and casualty companies (described in M.S. 297I.05, subd. 3 and 4) shall elect to collect and remit the fire safety surcharge (Form IG261) or (Form IG262). The election must be made by Dec. 31 of each year for insurance for policies written or renewed in the succeeding calendar year. (M.S. 297I.06). Due Dates File Form IG262 and pay any surcharge due by May 15, Aug. 15 and Nov. 15 of the current year and Feb. 15 of the following year. Make separate electronic payments or write separate checks for each return. The U.S. postmark date, or date recorded or marked by a designated delivery service, is considered the filing date (private postage meter marks are not valid). When the due date falls on a Saturday, Sunday or legal holiday, returns and payments electronically made or postmarked on the next business day are considered timely. When a return or payment is late, the date it is received at the Department of Revenue is treated as the date filed or paid. Extension for Filing Return. If good cause exists, you may request a filing extension. Before You File Enter your federal ID number and NAIC number on your return, but not in place of your Minnesota tax ID number. Payments Electronic Payments If your total insurance taxes and surcharges for the last 12-month period ending June 30 is $10,000 or more, you’re required to pay your tax electronically in all subsequent years. You must also pay electronically if you’re required to pay any Minnesota business tax electronically, such as sales or withholding tax. To pay electronically, go to the department’s website at www.revenue.state.mn.us and log in to e-Services. If you do not have Internet access, call 1‑800-570-3329 to pay by phone. You’ll need your user name, password and bank routing and account numbers. When paying electronically, you must use an account not associated with any foreign banks. If you use other electronic payment methods, such as ACH credit method or Fed Wire, instructions are available on our website or by calling Business Registration Office at 651-282-5225 or 1-800-657-3605. Submit separate payments for each return. Check Payments If you’re not required to pay electronically and are paying by check, visit our website at www.revenue.state.mn.us and click on “Make a Payment” and then “By check” to create a voucher. Print and mail the voucher with a check made payable to Minnesota Department of Revenue. When you pay by check, your check authorizes us to make a one-time electronic fund transfer from your account, and you may not receive your cancelled check. Note: If no amount is due or if you pay electronically, do not send in a voucher. Instructions Check Boxes At the top of the form, check if the return is: • an Amended Return: Check only if you’re amending a previously filed return for the same period. Include all original and corrected premiums on the amended return. • a No Activity Return: Check only if you did not have any applicable surcharge activity during the period. Continued 1 2020 Form IG262 Instructions (Continued) Line Instructions Column D If you wish to use different percentages than the ones listed on the form, you must receive prior approval. For written approval, send a letter or email to the department (see Information and Assistance) requesting to use percentages that were computed prior to collecting premiums during this period. Attach documentation including detailed supporting schedules. Premiums must include finance, service or other charges paid to the insurers. Line 1 Enter fire premiums written (line 1 of your NAIC Minnesota state page). Lines 2a and 2b Enter all crop premiums written for allied lines on line 2a and other than crop premiums on line 2b (line 2.1, Minnesota state page). If the allied lines premiums reported on the NAIC line 2.1 do not contain fire coverage, those premiums are not subject to the fire safety surcharge. Include documentation demonstrating that no fire coverage is included on the NAIC line 2.1. Lines 3a and 3b Enter all farmowners and homeowners multi-peril premiums written (lines 3 and 4, Minnesota state page). Line 3c Enter the nonliability portion of all commercial premiums written (line 5.1, Minnesota state page). Line 3d Enter the liability portion of all commercial premiums written (line 5.2, Minnesota state page). Line 4 Enter all inland marine premiums (line 9, Minnesota state page). Line 5 Enter all ocean marine premiums (line 8, Minnesota state page). Line 6 Enter all earthquake premiums (line 12, Minnesota state page). Line 7 Enter all total auto physical damage premiums (lines 21.1 - 21.2, Minnesota state page) OR the appropriate type of premiums on lines 7a through 7f. The total auto physical damage premiums, if listed by breakdown (lines 7a through 7f), should equal total auto physical damage premiums on the state page of your annual statement. Line 8 Enter all aircraft physical damage premiums (line 22, Minnesota state page). Line 9 Include all other premiums collected for fire, sprinkler and lightning damage if not already included. Provide a breakdown schedule showing the fire portion. For package policies, the fire insurance portion may be broken out to more accurately reflect the correct portion of fire premiums. Include a schedule detailing the breakdown. Line 13 Penalties Late Payment. If you do not pay the entire surcharge by the due date, a late payment penalty is due. The penalty is 5% of the unpaid surcharge for any part of the first 30 days the payment is late, and 5% for each additional 30-day period, up to a maximum of 15%. Late Filing. Add a late filing penalty to the late payment penalty if your return is not filed by the due date. The penalty is 5% of the unpaid surcharge. When added to the late payment penalty, the maximum combined penalty is 20%. Payment Method. If you’re required to pay electronically and do not, an additional 5% penalty applies to payments not made electronically, even if a paper check is sent on time. Line 14 Interest You must pay interest on the unpaid surcharge plus penalty from the due date until the total is paid. The interest rate for calendar year 2020 is 5%. The interest rate may change for future years. Continued 2 2020 Form IG262 Instructions (Continued) To figure how much interest you owe, use the following formula with the appropriate interest rate: Interest = (surcharge + penalty) × # of days late × interest rate ÷ 365 Mailing Your Return Mail your return and all required attachments to: Minnesota Department of Revenue Mail Station 1780 600 N. Robert St. St. Paul, MN 55145-1780 For express deliveries, use our street address: Minnesota Department of Revenue 600 N. Robert St. St. Paul, MN 55101 Business Information Changes Be sure to let us know within 30 days if you change mailing addresses, phone numbers or any other business information. To do so, go to our website, log in to e-Services and update your profile information. By notifying us, we will be able to let you know of any changes in Minnesota tax laws and filing requirements. Information and Assistance Website: www.revenue.state.mn.us Email: [email protected] Phone: 651-556‑3024 This material is available in alternate formats. For questions about licensing and regulations, contact the Minnesota Department of Commerce: Website: www.mn.gov/commerce Email: [email protected] Phone: 651-539-1599 or 1-800-657-3978 Fax: 651-539-0107 3
Extracted from PDF file 2020-minnesota-form-ig262.pdf, last modified October 2012

More about the Minnesota Form IG262 Other TY 2020

We last updated the Fire Safety Surcharge Return for Mutual Companies in April 2021, so this is the latest version of Form IG262, fully updated for tax year 2020. You can download or print current or past-year PDFs of Form IG262 directly from TaxFormFinder. You can print other Minnesota tax forms here.

Related Minnesota Other Forms:

TaxFormFinder has an additional 95 Minnesota income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Minnesota Form IG262.

Form Code Form Name
Form IG262-2019 Fire Safety Surcharge Return for Mutual Companies

Download all MN tax forms View all 96 Minnesota Income Tax Forms


Form Sources:

Minnesota usually releases forms for the current tax year between January and April. We last updated Minnesota Form IG262 from the Department of Revenue in April 2021.

Show Sources >

Historical Past-Year Versions of Minnesota Form IG262

We have a total of nine past-year versions of Form IG262 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2020 Form IG262

2020 IG262, Fire Safety Surcharge Return for Mutual Companies

2019 Form IG262

2012 IG262, Fire Safety Surcharge Return for Mutual Companies

2018 Form IG262

2012 IG262, Fire Safety Surcharge Return for Mutual Companies

2017 Form IG262

2012 IG262, Fire Safety Surcharge Return for Mutual Companies

2016 Form IG262

2012 IG262, Fire Safety Surcharge Return for Mutual Companies

2015 Form IG262

2012 IG262, Fire Safety Surcharge Return for Mutual Companies

Fire Safety Surcharge Return for Mutual Companies 2014 Form IG262

2012 IG262, Fire Safety Surcharge Return for Mutual Companies

Fire Safety Surcharge Return for Mutual Companies 2013 Form IG262

2012 IG262, Fire Safety Surcharge Return for Mutual Companies

2012 Form IG262

2012 IG262, Fire Safety Surcharge Return for Mutual Companies


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