Foreign Insurance Tax Information
Form 207F Insurance Premiums Tax Return – Nonresident and Foreign Companies
- Who Must File an Insurance Premiums Tax Return – Nonresident and Foreign Companies
- When to File (Tax Due Dates and Extensions)
- How to File
- Electronic Payment Options
- Estimated Tax Payments
- Interest and Penalties
Form 207F-5 Insurance Premiums Tax Return – Nonresident and Foreign Companies Initial Five-Year Return
- Who Must File an Insurance Premiums Tax Return - Nonresident and Foreign Companies Initial Five-Year Return
- When to File an Insurance Premiums Tax Return - Nonresident and Foreign Companies Initial Five-Year Return (Tax Due Dates)
- How to File an Insurance Premiums Tax Return - Nonresident and Foreign Companies Initial Five-Year Return
- Filing and Paying by Mail an Insurance Premiums Tax Return - Nonresident and Foreign Companies Initial Five-Year Return
Form 207F Insurance Premiums Tax Return – Nonresident and Foreign Companies
Who Must File an Insurance Premiums Tax Return - Nonresident and Foreign Companies
Insurance companies incorporated by or organized under the laws of any other state or foreign government and doing business in this state shall, annually, pay to said commissioner, in addition to any other taxes imposed on such company or its agents, a tax on all net direct premiums received by such company in the calendar year next preceding from policies written on property or risks located or resident in this state, excluding premiums for ocean marine insurance, and, upon ceasing to transact new business in this state, shall continue to pay a tax upon the renewal premiums derived from its business remaining in force in this state at the rate that was applicable when such company ceased to transact new business in this state.
When to File (Tax Due Dates and Extensions)
Form 207F, Connecticut Insurance Premiums Tax Return - Nonresident and Foreign Companies is due on or before March 1 of the succeeding calendar year for insurance premiums tax liability for the preceding calendar year.
To request additional time to file a Connecticut Insurance Premiums Tax Return – Nonresident and Foreign Companies, see Form 207F EXT, Application for Extension of Time to File Connecticut Insurance Premiums Tax Return Nonresident and Foreign Companies
File and pay Form 207F electronically using myconneCT. For more information visit Filing and Paying Connecticut Taxes Electronically.
Click here to File, Pay, or Register Now on myconneCT!
When Filing Form 207F using myconneCT, include the following as attachments:
- A copy of Schedule T, as filed with the Connecticut Insurance Department;
- Connecticut state business page from the Annual Statement filed with the Connecticut Insurance Department;
- 2024 Schedule GAA, if applicable;
- 2024 Form 207I, if applicable;
- 2024 Form CT‑207K, if applicable;
- Any forms, certificates, and/or supporting documents required to claim credits, if applicable; and
- Forms and worksheets required for the retaliatory calculation.
Visit myconneCT to make an electronic payment. After logging in to myconneCT, find your tax account on the Summary screen, select the Make a Payment link, and choose your payment method.
- ACH Debit/Direct Payment: Using this option authorizes DRS to electronically withdraw a payment from your bank account (checking or savings) on a date you select up to the due date.
- Pay by Credit Card or Debit Card: You may elect to pay your tax liability using a credit card (American Express®, Discover®, Master Card®, Visa®) or comparable debit card. A convenience fee will be charged by the credit card service provider. You will be informed of the amount of the fee and may elect to cancel the transaction. Your payment will be effective on the date that you make the charge.
At the end of the transaction, you will receive a confirmation number for your records. As a reminder, even if you pay electronically, you must still file your return by the due date. Tax not paid on or before the due date will be subject to penalty and interest.
ACH Credit
ACH credit method users should consult with their banking institution for guidelines to ensure that payment is received timely. (Taxpayers must pre‑register with the DRS Electronic Commerce Unit (ECU) prior to using this option). The taxpayer initiates an electronic payment through their banking institution. This payment must be sent in the ACH standard CCD+TXP format. For more information visit Filing and Paying Connecticut Taxes Electronically.
Each nonresident or foreign insurance company that is carrying on an insurance business in Connecticut and whose insurance premiums tax, after the application of guaranty association assessment offsets and general business tax credits, for the calendar year will be $1,000 or more must make estimated payments equaling 100% of the previous year's tax liability or 90% of the current year's premium tax. To file and pay estimated taxes electronically, visit myconneCT.
- 90% of the tax shown on its current year Form 207F after the application of guaranty association assessment offsets and general business tax credits; or
- 100% of the tax shown on its prior year Form 207F, Line 16.
If a payment due with these coupons is not made on or before the due date of the coupon, interest will accrue at the rate of 1% per month or fraction of a month on the amount not paid from the due date of the coupon until the date of payment.
If the due date falls on a Saturday, Sunday, or legal holiday, the return is considered timely if filed on the next business day.
Please note that each coupon is year specific. To prevent any delay in processing your return, the correct year’s coupon must be submitted to the Department of Revenue Services (DRS).
| Estimated Tax Payments | ||
| Estimated Tax Due Dates | Required Payments Amounts The estimated for the income year |
|
| First | ESA - Fifteenth day of the third month of the income year |
30% of your required annual payment |
| Second | ESB - Fifteenth day of the sixth month of the income year |
30% of your required annual payment (A total of 60% of your required annual payment should be paid by this date.) |
| Third | ESC - Fifteenth day of the ninth month of the income year |
20% of your required annual payment (A total of 80% of your required annual payment should be paid by this date.) |
| Fourth | ESD - Fifteenth day of the twelfth month of the income year |
20% of your required annual payment (A total of 100% of your required annual payment should be paid by this date.) |
In general, interest and penalty apply to any portion of the tax not paid on or before the original due date of the return.
Interest
Interest for late payment is 1% per month or fraction of a month from the due date.
Penalty for Late Payment
Penalty for late payment is 10% of the tax due or $50, whichever is greater.
Form 207F-5 Insurance Premiums Tax Return – Nonresident and Foreign Companies Initial Five-Year Return
Who Must File an Insurance Premiums Tax Return - Nonresident and Foreign Companies Initial Five-Year Return
Each newly licensed insurance company incorporated by or organized under the laws of any other state or foreign government shall pay to the Commissioner of Revenue Services, within ninety days after the effective date of such company's initial license to transact business in this state, a tax on the net direct premiums received by such company in the next five preceding calendar years from policies written on property or risks located or resident in this state, except ocean marine insurance, at the rate in effect for each such calendar year.
When to File an Insurance Premiums Tax Return - Nonresident and Foreign Companies Initial Five-Year Return (Tax Due Date)
Form 207F-5, Insurance Premiums Tax Return Nonresident and Foreign Companies Initial Five-Year Return is due within 90 days of the company’s initial license to transact business in Connecticut.
How to File an Insurance Premiums Tax Return - Nonresident and Foreign Companies Initial Five-Year Return
File and pay Form 207F-5 electronically using myconneCT. For more information visit Filing and Paying Connecticut Taxes Electronically.
Click here to File, Pay, or Register Now on myconneCT!
If your company is not registered with the Department of Revenue Services (DRS) at the time of filing Form 207F-5, file and pay by mail.
When Filing Form 207F-5 using myconneCT, include the following as attachments:
- A copy of Schedule T for the five preceding calendar years; and
- A copy of the Connecticut business page from the Annual Statement filed with the Insurance Department for the five preceding calendar years.
Filing and Paying by Mail an Insurance Premiums Tax Return - Nonresident and Foreign Companies Initial Five-Year Return
If you file by mail, complete this return in blue or black ink only. Do not use staples.
Make check payable to Commissioner of Revenue Services. To ensure payment is applied to your account, write “Form 207F-5”and your Connecticut Tax Registration Number on the front of your check. Be sure to sign your check and paper clip it to the front of your return. DRS may submit your check to your bank electronically.
Mail paper return to:
Department of Revenue Services
State of Connecticut
PO Box 2990
Hartford CT 06104-2990
Attachments: Attach the following to this return:
- A copy of Schedule T for the five preceding calendar years; and
- A copy of the Connecticut business page from the Annual Statement filed with the Insurance Department for the five preceding calendar years.
Page Last Reviewed or Updated: 16-Dec-2024