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Volume 2, No. 7 - September 2013

In The Know

- Keeping you informed is what it's all about

Informational Memorandum Concerning the Submission of the Florida Surplus Lines Premium Receipts Tax by Risk Purchasing Groups

On August 22, 2013, the Florida Surplus Lines Services Office (FSLSO) issued an informational memorandum concerning the submission of Florida surplus lines premium receipts tax by Risk Purchasing Groups.

The purpose of the memorandum is to provide guidance to all Florida registered Risk Purchasing Groups on the submission of Florida surplus lines tax.

Beginning the date of the memorandum, all surplus lines agents placing coverage on behalf of a Risk Purchasing Group shall submit taxes due to the FSLSO. The FSLSO is responsible for the collection of all such taxes as stated in Section 626.921, Florida Statutes.

All Florida licensed surplus lines agents (resident and nonresident) are required by Florida Statute 626.932 to file all policies written through a surplus lines carrier with FSLSO via the Surplus Lines Information Portal (SLIP) or XML batch filings. FSLSO generates invoices based on submitted policy information on a quarterly basis. The payment of taxes, fees and assessments is due before the 45th day following each calendar quarter.

Additional information and instructions concerning the proper submission of policy data to the FSLSO may be obtained at the following address: http://www.fslso.com/faq. Please select "Risk Purchasing Groups" at the bottom of the category list.
Click here to read the memorandum >>

Agent/Broker Federally-facilitated Marketplace Training Available

Agent/broker training for the Federally-facilitated Marketplace (FFM) is available with the federal government. All training will occur online. Agents and brokers may begin their training immediately.

To start taking the training now, please visit http://Marketplace.MedicareLearningNetworkLMS.com

Part II of agent/broker registration process for the FFMs has officially launched. In Part II, agents/brokers who wish to serve in the individual market may now complete identity proofing on the CMS Enterprise Portal: https://portal.cms.gov/.

Please note:

The 2014 Annual Title Administrative Surcharge is Coming Up

Subsection 624.501(27)(e)2, Florida Statutes, requires any title insurance agency licensed in Florida on January 1 of each year to remit an administrative surcharge of $200 to the Florida Department of Financial Services. Therefore, we are reminding all title agencies that the 2014 administrative surcharge due date will soon be approaching. Any title insurance agency licensed in Florida on January 1, 2014, will be emailed a reminder a few days afterward to the agency's email address on file with the Department. To ensure you receive the invoice and avoid failing to pay by the January 30 due date, please log in to the MyProfile account for your title agency and make sure the correct email address is on file. While doing so, we also recommend you do the same for your individual MyProfile account. Failure to pay the surcharge on or before January 30 will result in administrative action and/or a fine, in addition to the original surcharge. Payment can be made securely online via the title agency's MyProfile account and paper checks are not accepted.

Still Haven't Created Your MyProfile Account? It's Quick and Easy!

The Department communicates with its licensees, appointing entities, and education providers via email and their secure MyProfile account on our website. We continue to receive inquiries from some of our customers that they cannot access their MyProfile account. Typically, they received an email from the Department to go check their MyProfile account for details about their license, appointment, or continuing education requirement and can't log in when they try. They try different usernames and passwords but nothing works. It seems like the system is broken and not letting them in. The real problem: they never created an account.

You must create your MyProfile account(s) with a username and password before you can access your account. At the same time, you will also set up some security questions and answers so you can easily retrieve your username or password in the event you forget either in the future. You will also verify your contact information on file. We strongly encourage you to use your actual email address as that is how we will notify you of any important information to go check in your MyProfile account. After the new MyProfile account information has been entered, the system automatically transfers your information on file into your new account.

A guide to assist you with creating an account and retrieving a forgotten username or password is located at www.MyFloridaCFO.com/Division/Agents/Licensure/myProfileHelp/documents/MyProfile_Create_PWD_UN.pdf.