FAQs
What happens when a filer neglects to file policy information?
Sep 11, 2020, 00:00 AM
Title :
What happens when a filer neglects to file policy information?
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When the Premium Reconciliation staff locates unreported agent or IPC filings, penalties may be assessed on policies subject to taxes, fees, or assessments. Penalties are assessed beginning the date the taxes, fees, and/or assessments should have been filed, invoiced, and payments due.
For agent filings, the agent shall pay interest on the amount of any delinquent tax due, at the rate of 9% per year, compounded annually, beginning the day the amount becomes delinquent per F.S. 626.936(2). For IPC filings, the tax imposed hereunder, if delinquent, shall bear interest at a rate of 6% per year, compounded annually per F.S. 626.938(5).
For agent filings, the agent shall pay interest on the amount of any delinquent tax due, at the rate of 9% per year, compounded annually, beginning the day the amount becomes delinquent per F.S. 626.936(2). For IPC filings, the tax imposed hereunder, if delinquent, shall bear interest at a rate of 6% per year, compounded annually per F.S. 626.938(5).
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