WI| The Wisconsin Office of the Commissioner of Insurance (OCI) has issued a Bulletin announcing a significant change in the submission process for various insurance-related payments and filings. Starting April 15, 2025, insurers must use OPTins to pay premium taxes, fire department dues, and fees. This change affects a wide range of insurance companies licensed in Wisconsin, including fraternal societies, health insurers, property and casualty insurers, and others. The new system aims to streamline the filing and payment process for insurers.
Key points:
- Insurers must establish an OPTins account to make tax payments, with the first quarterly estimated tax payment due on April 15, 2025.
- Wisconsin premium tax forms will only be available for download and completion through OPTins starting with the 2025 filing year, due March 1, 2026.
- Companies are advised to set up their OPTins accounts early, as the process takes 7-10 business days, and a non-refundable $17.50 NAIC transaction fee will be included with each premium tax payment.