File & Pay Your Insurance Taxes
If you enter into an insurance contract with an unlicensed insurer you must file a Return of Unlicensed Insurance. The tax return is due within 90 days of the contract start date.
Your insurance agent may file the tax return and pay the tax on your behalf.
Return of Unlicensed Insurance (FIN 521)
- A copy of the declaration page of the insurance contract
- If only a portion of the premium relates to B.C. risks, include a schedule detailing how you calculated the B.C. premiums
- If your insurance agent represents you on insurance premium tax matters, a completed Authorization (FIN 573) (PDF) form
Note: Insurance agents must also include a completed copy of the Insurance Agent Summary Report (FIN 529) (PDF) when submitting a batch of printed returns.
If you don't file and pay your taxes by the due date, you will be charged interest and penalties. However, if the due date falls on a weekend or a B.C. statutory holiday, your return and payment are due on the next business day.
Payments can be made:
- Online using eTaxBC
- Through your bank or financial institution
- By mail or courier
- At a government office
We may reassess your return within six years of the delivery date of your return. In cases where you haven’t filed a return, or you have made any misrepresentation or committed fraud in filing a return or providing information, the six year limitation period doesn’t apply.