Title Administrative Surcharge Update (2013)

Paying the Title Surcharge by Agencies

Please be advised that the 2013 Title Administrative Surcharge must be paid online via your title agency's MyProfile account. The system began allowing online payments on January 7, 2013. There will not be an invoice or invoice number. Please do not send a paper check to the Department.

To log in to your MyProfile account, go to www.MyFloridaCFO.com/Division/Agents and click MyProfile on the left. If you have not created an account yet for your title agency, you will need to do that first by clicking Create Account on the MyProfile log in page. You will need to select Title Agency as the account type then enter your FEIN twice and license number then verify your address information.

After logging in to your account, click on Title Surcharge Payment on the right under Apply and follow the steps to make payment of the surcharge. Be sure to print each page for your records. After you logout of your MyProfile account, the option to pay the surcharge will go away and not be there the next time you log in.

Failure to pay the surcharge on or before January 30, 2013 may result in administrative action and/or a fine of $500 over the original surcharge amount. To assure that your payment is properly credited, please log in to your MyProfile account prior to January 30, 2013 and make payment.

Please be reminded that Section 626.551, Florida Statutes, requires licensees (agents and agencies) to notify the Department of Financial Services within 30 days of a change of residence, business, email, mailing address or telephone number. Changes may be made online via your MyProfile accounts for individual and title agency.

If a title agency (or title insurance company) has done any business or is planning on doing any business in 2013, the surcharge is required to be paid. Failure to timely pay the annual surcharge will lead to disciplinary action including a fine and up to revocation of licensure.

Below are the most common questions asked:

• QUESTION: I did not receive a paper invoice. How do I pay the amount due?
  ANSWER: There is no invoice this year. When you receive the email, you will be able to go online and pay via your MyProfile account.
• QUESTION: I am no longer in business. Do I have to pay the surcharge?
  ANSWER: Agencies that are no longer operating, or will not be operating in 2013 can avert the surcharge by surrendering their license. To do so they need to provide a letter on company letterhead stating:

1. They have not done any title insurance business in 2013.
2. They want the license terminated.

They must state this in the letter, and an officer of the agency must sign it. This letter can be faxed to (850) 488-5951, emailed as an attachment to Title@MyFloridaCFO.com, or mailed to:

Florida Department of Financial Services
Division of Agent & Agency Services
Bureau of Investigation - Title Section
200 E. Gaines Street
Tallahassee, FL 32399-0320

• QUESTION: Can I pay the title surcharge by credit card over the phone or online?
  ANSWER: You must pay the surcharge by credit card or eCheck via your MyProfile account. Please do not mail a paper check. If you pay by eCheck, be sure to notify your bank of our ACH numbers first. Those can be found on our fees page by clicking here.
• QUESTION: Can I overnight my check?
  ANSWER: No.
• QUESTION: What if I have other questions?
  ANSWER: Send an email to Title@MyFloridaCFO.com or call (850) 413-5697.

 

Updated January 9, 2012