Annual Late Filing Report

Feb 4, 2016 | eNews

By this time, you should have received the last of the monthly late filing reports for 2015. It is important that you review all of the monthly reports carefully for any transactions you believe are appearing in error. If you file using the EFS, you should use the “Correction Re‐Entry tieback” option for any necessary corrections. If you file by paper, you need to provide us with appropriate documentation to confirm the item in question is not late so it can be adjusted before the annual report is run. If you delay too long before resolving these “false‐positive” transactions, it will be too late to have them resolved. They must be resolved prior to the running of the annual late filers report. The annual late filers report will be run on March 2, 2016.

Effective May 28, 2011, Texas Insurance Code Section 981.105 specifies the regulatory remedies the Commissioner may take for late‐filed surplus lines policies. Section 981.105 provides two authorized remedies for surplus lines agents who file policies late: fees and enforcement actions. These will be determined from the 2014 annual late filing report.