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Accounting Division Phone: (501) 371-2605 Fax: (501) 682-6679 |
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RULE 56, COMPANIES FINANCIAL REGULATION FEE (CFRF)
WHO IS REQUIRED TO FILE CFRF? “Rule 56 shall apply to all licensed or
authorized domestic, foreign, and/or stock and mutual insurers, mutual
assessment life and disability insurers, health maintenance organizations (HMO’s),
fraternal benefit societies, hospital and medical service corporations, stipulated premium
plan and reciprocal insurers, title insurance companies, prepaid legal insurance
companies, and farmers’ mutual aid associations (FMAA’s), pursuant to Section 3 of Act 652
of 1993. For purposes of this Rule,
“insurers” shall mean all and any of the licensed or
authorized insurers of the Insurance Commissioner referenced in this Rule, in
Section 3 of Act 652 of 1993, and as defined in Ark. Code Ann. §23-60-102 (11).” Risk Retention Groups, Companies licensed as
Medicare only, and Surplus Lines Insurance Companies are not required
to file the
Companies Financial Regulation Fee. Please see Rule 56 for complete
information. WHEN IS IT DUE? By June 1st each
year*. We do not honor the postmark. We
recommend that you send your filing & payment as soon as the form is available to
ensure that we receive it in plenty of time. *The recent Legislative session
has approved an amendment to the due date of the
financial regulation fee. Act 726 of
the 2009 Regular Session, Section 9 changes the
due date from June 30th to June 1st each year. This change will become effective January
1, 2010. This means that the filing
that will be due in 2010 for calendar year 2009
will be due by June 1, 2010 and each filing thereafter will be due by June 1st
each year.
Must file on our form. WE DO NOT ACCEPT SOFTWARE COMPANY FORMS.
Form is on letter size paper. Form changes each year and is available after March 15th. Form and payment may be sent
any time after March 15th thru June 1st. We do not want this
filing sent with premium tax or the antifraud assessment fee.
No reminder is sent. It is the company’s responsibility to file on time.
PLEASE READ & FOLLOW INSTRUCTIONS INCLUDED WITH THE FORM. Do not send the instructions with your filing. Only the form & your check are needed.
Do not send a copy of the annual statement
page. They are not needed for this filing.
Rule 56 states that the check must be made payable to: The State Insurance Department Trust Fund Please notify your Accounting area of this information.
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