---
kind: "section"
citation: "31 C.F.R. § 50.95"
title: "31"
number: "50.95"
heading: "Remitting the surcharge."
url: "https://uscodex.org/cfr/31/50.95"
---

# §50.95. Remitting the surcharge.

- (a) Each insurer shall report direct written premium and Federal terrorism policy surcharges to Treasury on a monthly and annual basis during the assessment period. Reporting will be on a form prescribed by Treasury and will be due according to the following schedule:
  - (1) **Monthly—** From the beginning of the assessment period through November, on the last business day of the calendar month following the month for which premium is reported, and
  - (2) **Annually—** March 1 for the prior calendar year.
- (b) The monthly statements provided to Treasury will include the following:
  - (1) Cumulative calendar year direct written premium adjusted for premium not subject to the Federal terrorism policy surcharge, summarized by policy year.
  - (2) The aggregate Federal terrorism policy surcharge amount calculated by applying the established surcharge percentage to the insurer's adjusted direct written premium by policy year.
  - (3) **Insurer certification of the submission.**
- (c) The annual statements to be provided to Treasury will include the following:
  - (1) Direct written premium, adjusted for premium not subject to the Federal terrorism policy surcharge, summarized by policy year and by commercial line of insurance as specified in [§ 50.4(w)](/cfr/31/50.4.md?p=w).
  - (2) The aggregate Federal terrorism policy surcharge amount calculated by applying the established surcharge percentage to the insurer's adjusted direct written premium by policy year.
  - (3) In the case of an insurer that has chosen not to collect the Federal terrorism policy surcharge from its policyholders as provided in [§ 50.94(f)](/cfr/31/50.94.md?p=f), a certification that the expense of collecting the Surcharge during the assessment period would have exceeded the amount of the surcharges collected over the assessment period.
  - (4) **Insurer certification of the submission.**
- (d) The calculated aggregate Federal terrorism policy surcharge amount, as described in paragraphs [(b)(2)](#b-2) and [(c)(2)](#c-2) of this section, shall be remitted to Treasury upon submission of each monthly and annual statement. Through its submitted statements, an insurer obtains credit for a refund of any Federal terrorism policy surcharge previously remitted to Treasury that was subsequently returned by the insurer to a policyholder as attributable to refunded premium under [§ 50.94(e)](/cfr/31/50.94.md?p=e). A negative calculated amount in a monthly or annual statement indicates payment from Treasury is due to the insurer.
- (e) Reporting shall continue for the one-year period following the end of the assessment period established by Treasury, unless otherwise permitted by Treasury.

## Notes

### Authority

Authority: 5 U.S.C. 301; 31 U.S.C. 321; Title I, Pub. L. 107-297, 116 Stat. 2322, as amended by Pub. L. 109-144, 119 Stat. 2660, Pub. L. 110-160, 121 Stat. 1839, Pub. L. 114-1, 129 Stat. 3, and Pub. L. 116-94, 133 Stat. 2534 (15 U.S.C. 6701 note); Pub. L. 114-74, 129 Stat. 601, Title VII (28 U.S.C. 2461 note).

### Source

Source: 81 FR 93765, Dec. 21, 2016, unless otherwise noted.