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Filing Due Date Checklists

ELECTRONIC SIGNATURES AND NOTARIZATION

  • We allow electronic or e-signatures utilizing digital signature software and request that available software confirmations, such as e-signature certificates, be included within PDF filings.
  • For documents requiring a notarized signature it is our expectation that documents be notarized, whether original or remote.
  • Per the Vermont Secretary of State, Vermont notaries are allowed to notarize remotely (Effect. 9/15/2021; Further Extended and Expires 3/9/2023).  
  • We will accept e-notarized documents from out of state if that state allows e-notarization.  As noted above Vermont notaries are not permitted. 
  • There are several technology companies that offer end-to-end remote notarization systems, which may be permitted by other states where the notarization originates.  They include, but not limited to:

All filings must be submitted electronically.  PDFs must be unsecure PDFs and no Zip files are accepted. 

Timely receipt of filings required by Vermont statues and regulations is essential for effective oversight of Vermont’s captive insurers.  The Captive statutes require certain documents to be filed “on or before” a given date.  

The below (NEW) checklists are for the 2023 year-end and 2024 quarter-ends (updated annually):

Filing Guidelines

The department does not accept hard copies of captive financial filings. The address for electronic submission is DFR.Captivefinancialfilings@vermont.gov.

Documents Accepted
  • Vermont Captive Annual Reports (VCARs), including signed and notarized jurat page recommended using black ink;
  • NAIC financial statements (annual and quarterly), including signed and notarized jurat page;
  • NAIC Supplements (as required);
  • Audited Financial Statements (including CPA Letters);
  • Certification of Loss Reserves and Loss Expense Reserves (including Actuarial Opinion Summary);
  • Copy of Vermont premium tax return filed with Vermont Tax Department; and
  • Other required filings related to financial reporting
Filing Format
  • Unsecured pdfs;
  • No zip files

Please note: any documents submitted that do not follow the guidelines as set forth below will be returned. Incomplete filings will not be accepted. If a report in its entirety is not able to be filed by the due date, a filing extension must be requested prior to the due date by submitting to DFR.CaptiveMail@vermont.gov.

Required Documents and Guidelines
Vermont Captive Annual Report (VCAR) and NAIC Statement Filings
  • (New) Please include VCAR and copy of Vermont Premium Tax Return - Submittal Form for VCAR filers only.
  • One email per captive company filing.
  • Full Captive name and license # in subject of email.
  • Unsecured pdf of the report attached to the email. Any secured documents will be returned.
  • Signed and notarized jurat pages are to be combined with the report and sent as one pdf.
  • Any schedules, reports, and supplemental filings must be combined with the report and not sent as a separate pdf.
  • Copy of the filed Vermont premium tax return included in the pdf of the report and not as a separate pdf.
  • Excel file of the report attached to the email.
  • A cover letter is not required, however if included it must be combined with the pdf of the VCAR and include:
  1. company letterhead;
  2. captive name and license number; and
  3. date and signature.
Actuarial Filing

(New) Please include

  • Annual Certification of Loss Reserves and Loss Expense Reserves - Submittal Form for VCAR filers only.

  • One email per captive company filings.

  • Captive name and license # in subject of email.

  • Unsecured pdf of the report attached to the email.  Any secured documents will be returned.

  • Audit, actuarial opinion and summary filing, if submitted together, should be combined and sent as one pdf.  

  • A cover letter is not required, however if included it must be combined with the pdf of the Actuarial filing and include:

  1. company letterhead;
  2. captive name and license number;
  3. date and signature.
Audit Filing

(New) Please include 

  • Annual Audited Financial Statements - Submittal Form for VCAR filers only.

  • One email per captive company filings.

  • Captive name and license # in subject of email.

  • Unsecured pdf of the report attached to the email.  Any secured documents will be returned.

  • Audit, actuarial opinion and summary filing, if submitted together, should be combined and sent as one pdf.  

  • A cover letter is not required, however if included it must be combined with the pdf of the Audit filing and include:

  1. company letterhead;

  2. captive name and license number;

  3. date and signature.

 

Tags
Captive Insurance