Oklahoma- SLAS Notice - Optins Credits and 2024 Annual Reporting Information

Please review the important information below from the SLAS regarding Oklahoma Optins Credits and 2024 Annual Reporting:

Oklahoma OPTins Credits

For customers who are awaiting a refund check for 2024 filings submitted in OPTins for Oklahoma, you may have the option to apply the refund to your Oklahoma tax balance in SLIP. To qualify, you must meet the following requirements:

• You currently have an outstanding invoice due in SLIP for Oklahoma taxes.
• You currently have a credit balance in OPTins and are awaiting a refund from Oklahoma for one or more 2024 quarterly filings.
• The Oklahoma tax refund amount in OPTins exceeds the Oklahoma tax SLIP invoice amount.

To apply the outstanding OPTins credits to your SLIP Oklahoma tax invoice, please contact the OID Surplus Lines Department at OKSurplusLines@oid.ok.gov to confirm your refund has not been processed and request it to be applied to the Oklahoma tax SLIP invoice.

Please provide the SLIP invoice(s) and the tracking numbers from any applicable OPTins filing. The OID will review the request and if approved, the credit will be applied to the Oklahoma tax SLIP invoice. Credit requests must be received prior to the tax invoice due date of 1/31/2025 to avoid delinquent notices.

If a credit remains in OPTins after the SLIP tax invoice is offset, the OID will process a refund for the difference. Please contact the SLAS accounting team at accounting@slasclearinghouse.com if you have any questions.

Oklahoma Annual Report Filings for 2024 Business

The 2024 annual report for Oklahoma is now available in SLIP under Reports > Annual Reports. Users will then select the appropriate state and reporting period, enter the electronic signature and submit. Please note that the Annual Report must be submitted under the agent’s primary SLIP account. Users associated with the agent’s account cannot submit the Annual Report.

All active surplus lines license holders are required to file an annual report, regardless if business is written or not. Surplus lines agents will need to file an annual report in SLIP for all 2024 business. Individual brokers may also need to file an annual statement in OPTins if 2023 business or prior was reported in OPTins in 2024. Business entities (agencies) will continue to file their annual report in OPTins, including zero-business reports.

Please ensure you only report OPTins policies in OPTins and SLIP policies in SLIP to avoid duplicate reporting. If you are unsure where to file, please email the SLAS team at info@slasclearinghouse.com or OID at OKSurplusLines@oid.ok.gov.

For more information, please visit the Oklahoma Insurance Department Frequently Asked Questions.