Reporting and Remitting the Tax on Insurance Premiums
You must file your insurance premium tax returns on a monthly basis if the tax on insurance premiums remitted over the last 12 months is $12,000 or more. However, if the tax remitted is less than $12,000, you can elect to file less frequently. Your filing frequency can be:
- quarterly or annually if the tax on insurance premiums remitted over the last 12 months is less than $1,500; or
- quarterly if the tax remitted over the last 12 months is at least $1,500 but less than $12,000.
You can file your return respecting the tax on insurance premiums online using:
To file your return respecting the tax on insurance premiums by mail, complete form VDZ-527-V, Return Respecting the Tax on Insurance Premiums, and mail it to us using the envelope that comes with the form.
If you choose an annual filing frequency, you must send us your tax on insurance premiums return within three months following the end of your reporting period.
If your filing frequency is monthly or quarterly, you must submit your return no later than one month following the end of your reporting period.
You can remit the tax on insurance premiums you collected to us in any of the following ways:
- using the online payment service of a financial institution, if you file your return through My Account for businesses (use your payment code);
- by pre-authorized debit, if you use the online filing services in My Account for businesses (you must have authorized us to debit amounts by completing form LM-2.DP-V, Payer's Pre-Authorized Debit Agreement – Business PAD);
- in person at a financial institution; or
- by mail.
- Remittances of $50,000 or more must be made at a financial institution.
- The date of receipt of a payment is the date on which the financial institution or Revenu Québec receives it.
Log in to My Account for businesses to view your payments and filed returns, as well as your statement of account.
To avoid being charged late-filing penalties, penalties for failing to file or interest, see the remittance schedules for the tax on insurance premiums for the payment deadlines.