Captive Insurer Registration
(2) that is owned by a person that conducts business in Indiana;
(3) whose exclusive purpose is to insure property and casualty risks of:
(B) affiliates of the parent entity; or
(C) a controlled unaffiliated business; which may include reinsuring (through risk-sharing
arrangements) property and casualty risks insured by other foreign companies or alien companies described in subdivision 3 (1); and
(B) has made an election under Section 831(b) of the Internal Revenue Code if that election is in effect.
(B) has a contractual relationship with; a parent entity described in subsection (a)(2) or an affiliate of the parent entity; and
(c) Except as provided in this section, this article does not apply to a captive insurer.
(d) A captive insurer that is doing business in Indiana:
(2) shall register with the commissioner; and
(3) shall, for each calendar year after 2012 in which the captive insurer is doing business in Indiana, pay into the treasury of this state a tax of two thousand five hundred dollars ($2,500).
(e) A captive insurer that is required to pay the tax imposed for a calendar year under subsection (d)(3) shall pay the tax as follows:
(2) For a tax imposed under subsection (d)(3) for a calendar year after 2013, the captive insurer shall pay the tax before April 15 of the following calendar year.
(f) The state and a political subdivision of the state shall not impose a license fee or privilege or other tax on a captive insurer, except the following:
(2) An applicable tax on real and tangible personal property of the captive insurer.
- Registration Form
- Filing fee of $2500.00
- Inquiries: firstname.lastname@example.org or (317) 232-1993
- Form and check should be mailed to:
Financial Services Division-Debra Graves
Indiana Department of Insurance
311 West Washington Street, Suite 300
Indianapolis, IN 46204