Report of Securities/Statutory Deposit Instructions & Forms
Statutory Deposits are established to protect the interests of the policyholders or enrollees. The amounts of the Deposits are set forth in Indiana Code (IC) 27-1-6-14 or 27-1-6-15 for insurance companies and IC 27-13-13-1 for HMOs and IC 27-13-34-17 LSHMOs.
IDOI wants you prepared to file your Report of Securities for insurance Companies or Report of Statutory Deposit for HMOs and LSHMOs. There are various forms that have specific directions. To help make filing easier IDOI provides answers to its most frequently asked questions.
Frequently Asked Questions
Will the Report of Securities or the Statutory Deposit Form be accepted via fax, or does it have to be sent by mail?
The Report of Securities can not be faxed, however, starting this year, the report can be scanned and emailed to Jackson Gutierrez at firstname.lastname@example.org or sent via regular mail to Mr. Gutierrez.
When do we file the affidavit?
The affidavit must be filed with the Report of Securities (Insurance Companies) or the Report of Statutory Deposit (HMOs and LSHMOs) when a security is placed on deposit, maturing, being replaced and each year end to report amortizations or accuruals for that year.
When do we file a form on a security that is maturing?
Anticipate the maturity and file the forms (Affidavit, Form 22 or 45443) at least one to two weeks prior to the maturity.
Does IDOI have to approve a deposit before the company submits its form?
No, it is the company's responsibility to make sure the deposit is in compliance with statute (I.C. 27-1-12-11 for life and fraternal, I.C. 27-1-13-3 for property and casualty, I.C 27-13-13-1 for HMOs, and IC 27-13-34-17 for LSHMOs) before the form is submitted.
Why do I keep getting the forms back with changes on the balances?
The previous balance on the form you are submitting must agree with the ending balance from the previous form submitted. If these numbers do not agree, IDOI will return the forms for correction. Please see the instructions and samples provided.
When are amortizations due?
The amortizations must be submitted to this office and received no later than February 15th for the preceding December 31st. However, if your company is requesting auditor confirmations or Certificates of Deposit to file with the Annual Statement, the Certificate request will not be completed until the bond amortization is received and processed by our office.
Forms and Instructions