Tax Return Preparation

You may wish to have your CPA file your captives tax return. However, most CPA firms have little experience filing an 1120-PC.

Every domestic, non-life insurance company, subject to tax under Section 831, must file Form 1120-PC.

Your captive insurance company will be taxed on its investment income as a C Corporation, and is responsible for filing on a timely basis, utilizing this annual return: U.S. property and casualty insurance company income tax return, Form 1120-PC.

Generally, your captive must file its income tax return by the 15th day of the third month after the end of its tax year. In the event your professional tax advisor is unfamiliar with this return, or is otherwise unable to complete this return in a timely manner, Safe Harbor can facilitate your captive’s annual federal tax return.