The Oxford Risk Management team will handle the annual statement filing and tax payment for your captive’s annual premium tax obligation in your elected domicile.
Additionally, every domestic non-life insurance company and every foreign corporation that would qualify as a non-life insurance company subject to tax under Section 831, if it were a U.S. Corporation, must file Form 1120-PC. Your captive insurance company will be taxed on its investment income as a C Corporation, and is responsible for filing on a timely basis, utilizing this annual return: U.S. property and casualty insurance company income tax return, Form 1120-PC.
Generally your captive must file its income tax return by the 15th day of the third month after the end of its tax year. In the event your professional tax advisor is unfamiliar with this return, or is otherwise unable to complete this return in a timely manner, Oxford Risk Management Group can secure assistance with the completion of your federal tax return Form 1120-PC at very attractive cost.
For captives electing favorable tax treatment under IRC 831(b), Oxford will coordinate completion of additional filing requirements such as Form 8886 as required. Contact Oxford’s compliance department for additional information.