Donelon Issues Emergency Rule 42 – Premium Tax Reporting in Louisiana During the Outbreak of COVID-19

Commissioner Jim Donelon issued Emergency Rule 42 to address the statewide public health emergency declared by Governor John Bel Edwards for the state of Louisiana as a result of the imminent threat posed to Louisiana citizens by COVID-19.

“Louisiana’s stay at home order, as well as the federal government’s guidance put in place to slow the spread of COVID-19, has created unique challenges for the insurance industry as a whole. These challenges can adversely impact insurers and insurance producer’s ability to make to make certain filings with the LDI,” said Donelon. “This rule provides filing and remittance extensions of Form 1071 (Quarterly Tax Statement) and Form 1265 (Surplus Lines Tax Report) in order to avoid placing these entities at further risk of additional financial hardship in the form of regulatory sanctions.”

Emergency Rule 42 in summary:

• Enumerates the type of insurer reporting covered by this order.
• Extends the timely filing and remittance deadline for:
  • Form 1071 (Quarterly Tax Statement) from April 15, 2020 to July 15, 2020

  • Form 1265 (Surplus Lines Tax Report) from June 1, 200 to July 15, 2020

The full text of Emergency Rule 42 can be found here.

About the Louisiana Department of Insurance: The Louisiana Department of Insurance works to improve competition in the state’s insurance market while assisting individuals and businesses with the information and resources they need to be informed consumers of insurance. As a regulator, the LDI enforces the laws that provide a fair and stable marketplace and makes certain that insurers comply with the laws in place to protect policyholders. You can contact the LDI by calling 1-800-259-5300 or visiting www.ldi.la.gov.

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