Tax Compliance

How does your compliance measure up?
Ask yourself these questions:

  • Would you like affordable access to captive insurance tax professionals with the technical expertise and industry knowledge to add value to the tax compliance function?
  • Are you concerned about the new Schedule M-3 and electronic filing requirements?
  • Are you certain that the necessary disclosures and election statements are included in your tax returns? Would you like to free up your time, and that of your staff to focus on issues beyond captive insurance compliance? Are you having difficulty justifying the cost of technology and other resources dedicated to captive insurance compliance?
  • Do you need assistance with deferred tax calculations and disclosures? Would you like to hear about potential tax planning strategies that can be identified and generated through the tax compliance process?

Compliance assistance in a myriad of circumstances:
  • 1120-PC - Federal Income Tax Compliance;
  • 831 (b) Election - Alternative Tax Election for certain small insurance companies pursuant to section 831(b) to be taxed on investment income only;
  • 953 (d) Election - Foreign Insurance Company Election under section 93(d) to be treated as a domestic corporation for US Tax purposes;
  • Form 5471 - Information return of US persons with respect to certain foreign corporations;
  • 501 (c)(15)/Form 1024 - Application for recognition of exemption under 501(c)(15);
  • Form 990 - Annual return of organisation exempt from income tax; and
  • Tax accrual preparation* or review.

(*preparation services not available to PricewaterhouseCoopers attest clients)

No firm is better positioned

PwC's extensive experience and in-depth knowledge of the insurance industry has allowed us to maintain the largest presence of the Big Four firms in the global insurance market. In addition, we currently audit more than 40 percent of the Global Top 50 insurance companies and serve more than 4,000 insurance companies and groups around the world. We provide tax, risk management, actuarial and assurance services globally to more than 500 captives from our various offices around the world.

Our methodology maximises value and minimises headaches by:

  • Drawing upon our network of captive insurance tax experts to resolve issues:
  • Employing checklists and standardised workpapers;
  • Exploiting technological resources; and
  • Linking the tax compliance and tax accrual processes.