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NAIC & Department of Financial Services Annual Statement Checklist and Instructions

TITLE COMPANIES 2016

COMPANY NAME:                                                                                                            NAIC Company Code:                 
Contact:                                                                                                                                         Telephone:                        
REQUIRED FILINGS IN THE STATE OF NEW YORK                                         Filings Made During the Year 2017

 

(1) Check-list 

(2) Line # 

(3) REQUIRED FILINGS FOR THE ABOVE STATE 

(4) NUMBER OF COPIES* 

(5) DUE DATE 

(6)  FORM SOURCE* *

(7) APPLICABLE NOTES 

Domestic 

Foreign 

     

State 

NAIC 

State 

           

 

 

I.  NAIC FINANCIAL STATEMENTS

 

 

 

 

 

 

 

1

Annual Statement (8 ½” x 14”)

1

EO

xxx

3/1

NAIC

Foreign   Companies- See NOTE K

 

1.1

Printed Investment Schedule detail (Pages E01-E27)

1

EO

xxx

3/1

NAIC

 

 

2

Quarterly Financial Statement (8 ½” x 14”)

1

EO

xxx

 

 

5/15,   8/15, 11/15

NAIC

Foreign   Companies- See NOTE K

 

 

 

 

 

 

 

 

 

 

 

II.  NAIC SUPPLEMENTS

 

 

 

 

 

 

 

11

Actuarial Opinion

1

EO

xxx

3/1

Company

 

 

12

Investment Risk Interrogatories

1

EO

xxx

4/1

NAIC

 

 

13

Management Discussion & Analysis

1

EO

xxx

4/1

Company

 

 

14

Schedule SIS

1

N/A

N/A

3/1

NAIC

 

 

15

Supplemental Compensation Exhibit

1

N/A

N/A

3/1

NAIC

 

 

16

Supplemental Schedule of Business Written By Agency

1

EO

xxx

4/1

NAIC

 

 

 

 

 

 

 

 

 

 

 

 

III. ELECTRONIC FILING REQUIREMENTS

 

 

 

 

 

 

 

61

Annual Statement Electronic Filing

xxx

1

xxx

3/1

NAIC

 

 

62

March .PDF Filing

xxx

1

xxx

3/1

NAIC

 

 

63

Supplemental Electronic Filing

xxx

1

xxx

4/1

NAIC

 

 

64

Supplemental .PDF Filing

xxx

1

xxx

4/1

NAIC

 

 

65

Quarterly Statement Electronic Filing

xxx

1

xxx

5/15, 8/15, 11/15

NAIC

 

 

66

Quarterly .PDF Filing

xxx

1

xxx

5/15, 8/15, 11/15

NAIC

 

 

67

June .PDF Filing

xxx

1

xxx

5/31

NAIC

 

 

 

 

 

 

 

 

 

 

 

 

IV.  AUDIT/INTERNAL CONTROL RELATED REPORTS

 

 

 

 

 

 

 

81

Accountants Letter of Qualifications

1

EO

N/A

5/31

Company

 

 

82

Audited Financial Reports

1

EO

xxx

5/31

Company

 

 

83

Audited Financial Reports Exemption Affidavit

1

N/A

N/A

5/31

Company

 

 

84

Communication of Internal Control Related Matters Noted in Audit

1

EO

xxx

5/31

Company

See   NOTE P

 

85

Independent CPA (change)

1

N/A

N/A

See Note Q

Company

See   NOTE Q

 

86

Management’s Report of Internal Control Over Financial Reporting

1

 

N/A

 

N/A

 

5/31

 

Company

 

 

87

Notification of Adverse Financial Condition

1

N/A

1

See Note R

Company

See   NOTE R

 

88

Request for Exemption to File

1

N/A

N/A

Prior   to 12/31

Company

 

 

89

Relief from the five-year rotation requirement for Lead audit partner

1

EO

N/A

Prior   to 12/31

Company

 

 

90

Relief from the one-year cooling off period for

Independent CPA

1

EO

N/A

Prior   to 12/31

Company

 

 

91

Relief from the Requirements  for Audit Committees

1

EO

N/A

Prior   to 12/31

Company

 

 

92

Report of Significant Deficiencies in Internal Controls

1

N/A

1

5/31

Company

 

 

 

 

 

 

 

 

 

 

 

 

V.  STATE REQUIRED FILINGS

 

 

 

 

 

 

 

101

Certificate of Compliance

1

0

0

3/1

State

 

 

102

Certificate of Deposit

1

0

0

3/1

State

 

 

103

Filings Checklist (with Column 1 completed)

1

0

0

3/1

State

 

 

104

Corporation Franchise Tax to Dept. of Taxation (copy to Insurance Department)

1

0

1

3/15

State

NOTE   O

 

105

Annual Call

1

0

1

3/1

State

 

 

106

Signed Notarized Jurat (NAIC   Blank )

1

 

0

 

1

 

3/1

NAIC / State

Foreign Companies- See NOTE   K

 

106(a)

Signed Notarized Jurat (Quarterly)

1

0

1

 5/15,   8/15, 11/15

NAIC / State

Foreign Companies- See NOTE   K

*If XXX appears in this column, this state does not require this filing, if hard and/or electronic copy is filed with the state of domicile and if the data is filed electronically with the NAIC. If N/A appears in this column, the filing is required with the domiciliary state. EO (electronic only filing).

*If Form Source is NAIC, the form should be obtained from the appropriate vendor.


NOTES AND INSTRUCTIONS (A-R Apply to All Filings)

  A  Required Filings Contact Person:

 

Mr. Gilbert Denton, Senior Insurance Examiner
New York State Department of Financial Services
Property Bureau - 4th Floor
One State Street
New York, NY 10004
(212) 480-4669

E-mail: Gilbert.Denton@dfs.ny.gov When answering by e-mail, please include telephone number. 

  B  Mailing Address:

 

Annual Statement and related items (hard copies); Audited Financial Statement; Quarterly Statement (hard copies); Certificate of Compliance; and Certificate of Deposit:

Mr. Gilbert Denton, Senior Insurance Examiner
New York State Department of Financial Services
Property Bureau - 4th Floor
One State Street
New York, NY 10004

CD (See Note N):

Mr. Gilbert Denton, Senior Insurance Examiner
New York State Department of Financial Services
Property Bureau
One State Street
New York, NY 10004

 

  C  Mailing Address for Filing Fees:

 

N/A 
  D  Delivery Instructions:

 

All Department of Financial Services filings must be physically received at the appropriate address as indicated in NOTE B no later than the indicated due date. Companies should file ONLY ONE COMPANY per package. If the due date falls on a weekend or a legal holiday, then the filing must be received by the Department by the end of the next business day.
The Supplement must be bound at the left side in sequential order and it must have a "COVER" page that indicates New York Supplement to the Annual Statement, the FULL Company Name and the Year. Diskettes should be labeled.

  E  Late Filings:

 

Failure to timely file any component of an annual, quarterly or NY supplement filing subjects insurer to penalties set forth in NY Insurance Law Section 307 and 308.

New York statute does not provide for any extensions in the filing deadlines for Annual Statements. Further, extensions for the filing of audited financial statements are only provided upon written application by the insurer to the superintendent, and such extension is only granted if the superintendent finds that compliance would constitute a financial or organizational hardship, as provided in Section 307(b)(3) of the Insurance Law.

  F  Original Signatures:   Actual live signatures required. 
  G Signature/Notarization/Certification:   Appropriate notarization required on the actual document.
  H  Amended Filings:

 

Only accepted in accordance with the Department's prior instructions.

All amendments to your Annual Statement and/or New York Supplement must be provided in hard copy as well as an amended ELECTRONIC filing. Foreign insurers can file electronically.

Note: For Amended New York Supplement filings, the entire electronic filing is required.

  I  Exceptions from normal filings:   Only accepted in accordance with the Department's prior instructions. 
  J Bar Codes (State or NAIC)

 

The NAIC Annual Statement and New York Supplement require the use of bar codes on the jurat page and certain other pages and forms. In addition, the Department requires the Audited Financial Statements and the documents submitted pursuant to Regulation 118 to be bar coded. General Bar Coding instructions and a full listing of New York required bar coded forms are included on the web site. 
  K  Signed Jurat:

 

Foreign Companies - Refer to - Supplement No. 1 to Circular Letter No. 4 (2001) dated February 6, 2008, which can be found at the following link: http://www.dfs.ny.gov/insurance/circltr/2008/cl08_04s1.htm

Foreign Companies - Pursuant to Section 307(a)(1) of the Insurance Law, a hard copy filing of the signed title annual statement jurat page is not required if an electronic filing of the annual statement has been filed with the NAIC and the insurer has filed in its state of domicile, an annual statement verified by the oath of at least two of its principal officers.

Hard copy filings of the jurat page should be directed to:

Mr. Gilbert Denton, Senior Insurance Examiner
New York State Department of Financial Services
Property Bureau - 4th Floor
One State Street
New York, NY 10004

 

  L  NONE Filings:

 

All parts of the Annual Statement except those schedules identified as N/A on the checklist and all parts of the New York Supplement must be accounted for. If there is nothing to report, you may complete the NAIC Annual Statement page entitled "Supplemental Exhibits and Schedules Interrogatories" INSTEAD OF filing reports marked "None". Also, you must complete the New York Supplement page entitled "Supplemental Exhibits and Schedules Interrogatories" if there is nothing to report for those New York Supplement, exhibits or schedules. You need not file reports marked "None". 
  M  Filings new, discontinued or modified materially since last year:   None.
  N Internet Filing: 

Instructions concerning internet filing alternative to filing a CD with New York for the New York Supplement are set forth in Department of Financial Services Circular Letter No. 4 (2001) and Supplement 1 to Circular Letter No. 4 (2001), dated 2/6/08.

All companies are strongly encouraged to file national form filings (as identified in items 61, 62, 63, 64, 65, 66 and 67 in the checklist) with the NAIC preferably via the Internet. By filing over the Internet with the NAIC, an insurer will have fulfilled its electronic filing requirement for national forms with New York and therefore should not file a CD with the Department.

 

  O  Corporation Franchise Tax to Dept. of Taxation:  Mail the CT-33NL return and payment to:

NYS Corporation Tax Processing Unit PO Box 22038 Albany NY 12201-2038

Also mail a copy to:

NYS Department of Financial Services
Office of Financial Management
One Commerce Plaza
Albany, NY 12257

  P Communication of Internal Control Related Matters Noted in Audit File electronically with the NAIC.
  Q  Independent CPA (change) Provide updated information (name, address, telephone number and e-mail address) within 60 days of any change in CPA. See Regulation 118, Section 89.4(c) for additional reporting requirements if the CPA is dismissed or resigns.
  R  Notification of Adverse Financial Condition Required to be furnished, in writing, to the Superintendent, within five business days of any determination by the CPA that the Company has materially misstated its financial condition as reported to the superintendent as of the balance sheet currently under audit or that the Company does not meet the minimum capital or surplus requirement of the insurance law as of that date.


GENERAL INSTRUCTIONS FOR COMPANIES TO USE CHECKLIST

Please Note:

This state's instructions for companies to file with the NAIC are included in this Checklist. The NAIC will not be sending their own checklist this year.

Electronic filing is intended to include filing via the Internet or filing via diskette with the NAIC. Companies that file with the NAIC via the Internet are not required to submit diskettes to the NAIC. Companies are not required to file hard copy filings with the NAIC.

Column (1) (Checklist) Companies may use the checklist to submit to a state, if the state requests it. Companies should copy the checklist and place an "x" in this column when mailing information to the state.

Column (2) (Line #) Line # refers to a standard filing number used for easy reference. This line number may change from year to year.

Column (3) (Required Filings) Name of item or form to be filed.

The Annual Statement Electronic Filing includes the annual statement data and all supplements due March 1, per the Annual Statement Instructions. This includes all detail investment schedules and other supplements for which the Annual Statement Instructions exempt printed detail.

The March .PDF Filing is the .pdf file for annual statement data, detail for investment schedules and supplements due March 1.

The Supplemental Electronic Filing includes all supplements due April 1, per the Annual Statement Instructions.

The Supplemental .PDF Filing is the .pdf file for all supplemental schedules and exhibits due April 1.

The Quarterly Statement Electronic Filing includes the complete quarterly statement data.

The Quarterly Statement .PDF Filing is the .pdf file for quarterly statement data.

The June .PDF Filing is the .pdf file for the Audited Financial Statements and Accountants Letter of Qualifications.

Column (4) (Number of Copies) Indicates the number of copies that each foreign or domestic company is required to file for each type of form. The Blanks (E) Task Force modified the 1999 Annual Statement Instructions to waive paper filings of certain NAIC supplements and certain investment schedule detail if such investment schedule data is available to the states via the NAIC database. The checklists reflect this action taken by the Blanks (EX4) Task Force. XXX appears in the "Number of Copies" "Foreign" column for the appropriate schedules and exhibits.  Some states have chosen to waive printed quarterly and annual statements from their foreign insurers and to rely upon the NAIC database for these filings. This waiver could include supplemental annual statement filings. The XXX in this column might signify that the state has waived the paper filing of the annual statement and all supplements.

Column (5) (Due Date) Indicates the date on which the company must file the form. 

Column (6) (Form Source) This column contains one of three words: "NAIC," "State," or "Company," If this column contains "NAIC," the company must obtain the forms from the appropriate vendor. If this column contains "State," the state will provide the forms with the filing instructions (generally on its web site). If this column contains "Company," the company, or its representative (e.g., its CPA firm), is expected to provide the form based upon the appropriate state instructions or the NAIC Annual Statement Instructions.

Column (7) (Applicable Notes) This column contains references to the Notes to the Instructions that apply to each item listed on the checklist. The company should carefully read these notes before submitting a filing.

 

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