The Title Administrative Surcharge is due during the month of January. Subsection 624.501(26)(e)2, F.S., requires any title insurance agency licensed in Florida each year to remit an administrative surcharge of $200 to the Florida Department of Financial Services. This payment must be made on or by January 30th.
If a title agency (or title insurance company retail office) has done any business, or is planning on doing any business in the new year, the surcharge is required to be paid.
Below are the most common questions asked about the Title Administrative Surcharge:
When can I make the payment?
Any time in the month of January.
Note: We may allow payments to be paid late during the month of February through MyProfile. A late payment could result in an administrative penalty being imposed including, but not limited to, fines and/or suspension or revocation of their license.
Will my title agency receive a notice about this?
All title insurance agencies licensed in Florida on or around January 1 will be sent a courtesy email reminder a few days after the new year. The email will be sent to the agency's email address on file with the Department. Please note that the statute states any title agency licensed on January 30th must pay the surcharge.
How do I update my title agency email address?
Log in to your title agency's MyProfile account and click "Address Change" on the right side of the screen.
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.
How do I pay?
Log in to your title agency's MyProfile account, click on "Title Surcharge Payment" on the right side of the screen, under Apply, and follow the steps to make payment of the surcharge. Be sure to print each page for your records.
Note: The option to pay will only appear on the MyProfile account of a title agency and will not appear on the MyProfile account of a title agent.
I don't see an option to pay, what am I doing wrong?
This is caused by two reasons:
What is the deadline to make the payment?
The deadline to pay the title administrative surcharge is January 30th. After January, title agencies may be provided additional time to pay late through MyProfile. The ability to pay late through MyProfile may be turned off after the deadline. Any title agency paying late is subject to penalty including, but not limited to, fines and/or suspension or revocation of their license.
What happens if I don't pay?
Failure to pay the surcharge on or before January 30th may result in administrative action and/or a fine over the original surcharge amount.
Can I send or pay online with a check?
No. Checks are not accepted. The surcharge must be paid online via your title agency's MyProfile account.
I am no longer in business. Do I have to pay the surcharge?
Agencies that are no longer operating and will not be operating in the new year can avert the surcharge by surrendering their license. To surrender the license, you must provide a letter on company letterhead containing:
This letter can be emailed as an attachment to Title@MyFloridaCFO.com.
Can I pay the title surcharge by credit card over the phone?
No. You must pay the surcharge by credit card via your MyProfile account.
What if I have other questions?
Send an email to Title@MyFloridaCFO.com.