Do I need to file a return for this tax if I didn't write any business?Back to top
Yes. As long as you are licensed you are required to file a return. Check the "No Activity" box at the top of the form if you have no business to report.
Do I need to pay electronically?Back to top
Yes, if you meet either of these requirements:
- Your total insurance taxes and surcharges equal $10,000 or more for the prior fiscal year ending June 30.
- You are required to pay any other Minnesota tax electronically.
What if I made a payment but it doesn't show up on my account?Back to top
Call the Insurance Taxes Unit at 651-556-3024 and provide as many details as possible about your payment – date, amount, method (electronic or check), Minnesota tax ID number, etc. If your payment was applied, we can correct it.
How do I calculate penalties or interest on a late or amended return?Back to top
Calculate penalties and interest as follows (see example below):
- Late filing penalty = 5 percent of unpaid tax
- Late payment penalty = 5 percent of unpaid tax (if 1 to 30 days late); 10 percent (if 31 to 60 days late); or 15 percent (if over 60 days late)
- Interest = (tax + penalty) × interest rate × # days late ÷ 365
Example: You file your return 37 days late and owe $1,000 in tax.
Calculate your penalties as follows:
Late filing penalty = $1,000 × 0.05 = $50
Late payment penalty = $1,000 × 0.10 = $100
Calculate your interest as follows (assuming the interest rate is 3 percent):
Do I need to file an amended return if the Department of Revenue already fixed my return?Back to top
Not if you agree with the changes we made. But if you disagree, you may file an amended return with the proper figures; we'll review it and update your account accordingly.
Can I get more time for my audit?Back to top
Yes. Contact the auditor assigned to your case to request the additional time. They may ask for the request in writing.
Will I know I am being audited?Back to top
Probably not until the audit is finished. We use records from the National Association of Insurance Commissioners to verify the figures on your return. If there is a discrepancy, you will receive a tax order (bill) based on our audit.
Can someone else handle my audit on my behalf?Back to top
Yes. You may assign a power of attorney (POA) to another person or firm so they can represent you. To do so, complete
Form REV184, Power of Attorney, and send it to the auditor assigned to your case
before your POA contacts the auditor.
Are there penalties if my return is late?Back to top
Yes. The penalty for late filing is 5 percent of the unpaid tax.
Do I need to file a return for this tax?Back to top
Yes, if you are licensed with the Department of Commerce. You must file even if you have no business to report for the period.
What is the penalty for late payment?Back to top
The penalty is 5 percent if your payment is 1 to 30 days late, 10 percent if your payment is 31 to 60 days late, and 15 percent if your payment is over 60 days late.
Where can I find my Minnesota tax ID number?Back to top
It should appear on any letter that was sent to you by the Department of Revenue. If you can't find it, please call us at 651-556-3024. You'll need to provide an alternate identification number, such as an NAIC number or FEIN.
How do I update my contact information?Back to top
You can do it through our e-Services system. Or, you can mail your updated information to:
Minnesota Revenue
Mail Station 1780
St. Paul, MN 55146-1780
Can I send more information to update my account?Back to top
Yes. If the information is related to an audit, send the information to the auditor assigned to the case. Information can be sent to: Minnesota Revenue, Mail Station 1780, St. Paul, MN 55146-1780.
Why am I being ordered to file and pay this tax if I am not licensed?Back to top
It's possible your registration is wrong, or that you have changed your license with the Department of Commerce and we haven't been notified. Please call the Insurance Taxes Unit at 651-556-3024 so we can update or close your account if needed.
What if I don't understand what was changed on my return?Back to top
Call the Insurance Taxes Unit at 651-556-3024 and we'll review your account with you.
If I update my business information with the Department of Commerce, do I also need to notify the Department of Revenue?Back to top
What if I didn't make estimates or pay my estimated tax by the due dates?Back to top
When you file your annual return, you'll have to pay an additional tax charge (ATC). The ATC is equivalent to interest on the estimated tax that you didn't pay by the due date. Calculate this charge as follows:
ATC = tax x interest x # days late / 365
Example: You owed $1,000 in estimated tax on June 15 but did not pay until June 30. If the interest rate is 3 percent, the ATC on your return is $1.23, as calculated below:
ATC = $1,000 x 0.03 x 15 / 365 = $1.23
Note: For the current interest rate, see Penalty and Interest Rates.
