Administrative Assessments: FAQ
Frequently asked questions for companies regarding administrative assessments.
- How do I update my Company contact information?
- When will the Administrative Assessments be ready?
- The NH Insurance Department begins to prepare the assessments at the beginning of the state’s fiscal year, and typically the invoices are ready to view and print from our website around August 15th of each year.
- How can I pay the Administrative Assessment electronically?
- Administrative assessments can be paid by Check, ACH Credit, or Wire transfer. To pay electronically, please email premiumtax@ins.nh.gov for instructions.
Note: The banking instructions are the same as when paying for premium taxes.
- Administrative assessments can be paid by Check, ACH Credit, or Wire transfer. To pay electronically, please email premiumtax@ins.nh.gov for instructions.
- Can I get a copy of my Administrative Assessment invoice?
- You may obtain a copy of your invoice by going to the bottom of the Premium Tax page on our Premium Tax page.
Once the template is opened, simply enter your company’s NAIC Company # and the template will populate your company’s invoice.
- You may obtain a copy of your invoice by going to the bottom of the Premium Tax page on our Premium Tax page.
- When are Administrative Assessment payments due?
- Payments are due 45 days from the invoice date.
- What is the Administrative Assessment late payment penalty?
- RSA 400-A:39 XI Administration Fund
Payments not received within 45 days will be subject to the following penalties- 1 - 30 days 3%
- 31- 60 days 6%
- 61+ days 12%
- RSA 400-A:39 XI Administration Fund
- Will there be a second Administrative Assessment invoice?
- Typically, the NH Insurance Department Administrative Assessment is assessed in one invoice for each fiscal year. Only on an exception basis would we need to issue an additional invoice.
- Are Administrative Assessments due for companies that did not have written premiums?
- The minimum administrative fee assessed to an insurer shall be $100 per RSA 400-A:39 VI. (f)
- Does a timely mailing provision apply to payments?
- No, a timely mailing provision does not apply. Payments must be received in our office by 4:30 p.m. on the due date.
- Why doesn’t the premium on the assessment match the premium on our Annual Statement State Page?
- The assessable NH premiums written is a total of ALL NH premiums written, not your company’s portion. The CO PRO-RATA SHARE OF ASSESSMENT would be your portion based on your Company’s NH (Schedule T) premium.
- Where will you mail our Company’s assessment?
- Assessments are not mailed and must be retrieved directly from our website.
Assessments are located at the bottom of the Premium Tax page
Once the template is opened, simply enter the company’s NAIC Company # and the template will populate the company’s invoice.
- Assessments are not mailed and must be retrieved directly from our website.
- Why isn’t our Company receiving a credit for Direct Paid Analysis Contracts?
- Credits are only applied to insurers eligible under RSA 400-A:10, III, RSA 400-A:36, X, or RSA 401-C:7, II.
- Where can I view the complete statute RSA 400-A:39 Administration Fund?