Automated Clearing House Payment System (ACH)
All taxes and fees for admitted companies and surplus lines brokers are required to be paid by the due date via the Automated Clearing House (ACH) Tax Payment debit or credit method.
- March 1 - Annual premium tax payment, annual statement filing fee
- May 31 - Quarterly estimated premium tax payment
- June 30 - Continuation of the certificate of authority fee
- August 31 - Quarterly estimated premium tax payment
- November 30 - Quarterly estimated premium tax payment
Quarterly payments required only if prior year tax was $10,000 or greater.Payment due dates for surplus line brokers:
- June 1 – January, February, March transactions
- September 1 – April, May, June transactions
- December 1 – July, August, September transactions
- March 1 – October, November, December transactions
An ACH debit transaction must be initiated no later than 4:00pm Eastern Standard Time on the last businessday prior to the due date of the payment in order for the payment to be received in the State of Alaska's bank account by the due date. A transaction can be initiated up to 30 days in advance of the effective date. The payment will be rejected by the receiving bank if the submission contains inaccurate information and the payer will be subject to a penalty if the subsequent payment is received after the due date.
Debit Block Information:
If you have a block on the bank account you plan to use for ACH debit, you will need to give your bank the following identifier: 0000907100 from the Wells Fargo Bank, in order for your bank to allow the transaction through their filters. Please be aware that different financial institutions may use different fields or combination of fields to authenticate a payment to bypass their debit blocking systems. In those cases, the company ID provided above may not be sufficient for their purposes.
If payment is not received in the State of Alaska’s bank account by the due date, a penalty will be assessed of $50 per month plus 5% of the tax due per month up to a maximum of $250, plus 25% of the tax due, plus interest of 1% of the tax due per calendar month or part of a month. If payment is not received by ACH, a penalty of 25 percent of the tax due will be assessed, with a minimum of $100 and maximum of $2,000.
Instructions for ACH debit:
Here are the instructions for using this ACH debit program. ACH Debit Instructions
If you want to pay via ACH credit, please fill out the contact form in MS Word format or in PDF format and send to the Alaska Division of Insurance for the procedures and guidelines booklet on using the required NACHA format: Cash Concentration or Disbursement Plus Tax PaymentAddendum (CCD+/TXP).
Any questions regarding ACH Debit or Credit can be addressed to Rebecca Nesheim at (907) 465-2584 or Rebecca.Nesheim@alaska.gov
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