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Changes to 2011 Forms

Updates to the Form 570 on 09/27/2011 –– Nonadmitted Insurance Tax Return

We replaced text on the Form 570 on:

  1. Side 1, top of page, Calendar Quarter section
  2. Side 1, top of page, Period Ending section
  3. Page 1, Column 1, What's New section
  4. Page 1, Column 2, When and Where to File section

Previous Version

  1. Note: new text added.
  2. Period ending: March 31, June 30, September 30, December 31
  3. Note: new text added.
  4. July-September, December 1
  5. October-December, March 1

Revised Version

  1. Select calendar quarter during which the taxable insurance contract(s) took effect or was renewed. See What's New instructions
  2. Period ending: March 31, June 30, September 30 (July 1 - July 20 only)
  3. What's New
  4. Assembly Bill 315 which became effective July 21, 2011, conforms California law to the Nonadmitted and Reinsurance Reform Act that is part of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, enacted last year by the federal government and authorizes the collection of tax on 100 percent of the premiums of California home state insured policies. It defines a "home state insured" as an insured or applicant that has its principal place of business in the state, or, if an individual, has his or her principal place of residence in this state.

    Use Form 570 to determine the tax on premiums paid or to be paid to nonadmitted insurers on contracts covering risks in California, up to July 20, 2011.

    After July 20, 2011, use new Form 570-A to determine the tax on gross premiums paid or to be paid on all California home state insured.

  5. July 1 - July 20, December 1

Reason for the changes

Existing Form 570 cannot be used after July 21, 2011, because AB 315 (Solorio, Stats., 2011, Ch. 83) which became effective July 21, 2011, conforms California law to the Nonadmitted and Reinsurance Reform Act that is part of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.

Impact

There is no tax impact.

Back to Tax Form Changes for 2011