Weekly Tip: Calculating Filing Fees for Revisions Under FIN 2017-1

Weekly Tips

Calculating Filing Fees for Revisions Under FIN 2017-1


This week, we are concluding the series of Weekly Tips based on the new Filing Information Notice ? FIN 2017-1: Process for Revisions to Forms and Supporting Documentation in Compact Filings (FIN 2017-1) ? issued on March 9th. This last tip will review filing fees required for the different filing scenarios described in FIN 2017-1. As with all filings, if there are any questions pertaining to the filing fees, please reach out to the Insurance Compact Office.

An Insurance Compact filing fee is required for the majority of the scenarios that we have outlined in the previous weeks. Here are some key points to keep in mind:

  • No Insurance Compact fees are required to add a state, to fix a typographical error, update the SOI schedule, or to submit a Foreign Language translation.
  • A filing made under the Supporting Documentation Update Filing Type is a new filing, not an amendment. Use the same fee structure you would use to submit a new form filing, i.e. asset-based premium volume and whether actuarial review is required for the new filing.
  • State filing fees for Supporting Documentation Update filings are shown in Appendix B of FIN 2017-1. This chart has been updated since the initial release of the FIN to clarify that fees are also due for retaliatory states, as with any new filing.
  • Revisions submitted to an approved filing (i.e. a revision to a filing within 90 days of approval, if not marketed or issued) require an amended filing fee for the revision, which is 50% of the original Compact filing fee for the initial submission.

To complete our effort to provide written guidance, we will be issuing a FAQ document based on the webinar series that was conducted earlier this month. The FAQ will be made available on the Insurance Compact website in two weeks. If you have any questions pertaining to the new filing process, please reach out to the Insurance Compact Office for additional guidance.