NY| Bulletin No. 2025-25 from ELANY reminds licensed New York excess line brokers about 2025 affidavit filing deadlines, 2025 premium tax reporting procedures, electronic filing requirements, handling of prior-year adjustments, and the obligation to file a tax return even if no 2025 excess line business was placed.
Key Point:
- All 2025 affidavits and premium-bearing endorsements effective in 2025 or earlier must be received by ELANY by February 17, 2026 (statutory deadline February 14, moved to next business day) to be included in the 2025 tax summary report.
- Licensed excess line brokers must file annual premium tax statements electronically via the Department of Financial Services website, and ELANY will post 2025 year-end tax summary reports on or about March 2, 2026.
- 2024 items filed with ELANY by February 17, 2026 will appear as 2025 activity and must be reversed in Section IV(c), while any 2025 items not reported to ELANY by that date must be manually reported in Section IV(a); all excess line licensees must file a tax return whether or not they placed any 2025 risks.