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 premium using:
- the File a Return Respecting the Tax on Insurance Premiums online service in My Account for businesses;
- software authorized by Revenu Québec for filing the insurance premium tax return;
- the online payment service of a financial institution that lets you file your return and pay your balance due in the same transaction;
- form VDZ-527-V, Return Respecting the Tax on Insurance Premiums.
Viewing a return
Use the View a Consumption Tax Return Filed Online (lodging, new tires, insurance premiums) service if you need information about returns you filed online.
If you need information about all the returns you filed (online and on paper), use the View Returns service. For statements of account, use the View a Statement of Account service.
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.
Remitting the tax on insurance premiums
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.
Date of receipt of a payment
The date of receipt of a payment is the date on which we or the financial institution receives it.
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.
Viewing payment information
Use the View Payments online service to view information about remittances and payments made by the business. For statements of account, use the View a Statement of Account service. Both services are available in My Account for businesses.