REPORTING
34-13-192 (a)
Each year, the Certificate of Authority shall file a report of its preneed contract activity on a form or in a format prescribed by the Board. The information reported shall include the total number of preneed contracts in force at the beginning of the previous calendar year, the total number of preneed contracts sold during the previous calendar year, the total number of preneed contracts fulfilled during the previous calendar year, the total number of preneed contracts in force at the end of the previous calendar year, and such other information as may be required by the Board. The report shall be organized by type of funding, including life insurance, annuity, trust, letter of credit, or surety bond. The report shall also provide a certification by the trustee of the amount of assets held by the trust at the beginning of the reporting period and at the end of the reporting period. If a Certificate of Authority twice defaults in complying with the requirements of this subsection, the Board may require that the Certificate of Authority thereafter submit the report more frequently and shall continue so reporting for a time to be determined by the Board.
If a Certificate Holder becomes inactive for any reason (surrender, expiration, etc.) then the Inactive Certificate Holder – Annual Report must be filed annually, so long as the Inactive Certificate Holder has at least one unfulfilled preneed contract. If the Inactive Certificate Holder has ever funded preneed contracts by trust and has one or more trust funded contracts outstanding/unfulfilled in the reporting year, then the Inactive Certificate Holder must file a statement of trust activities for each merchandise and services trust for the reporting year (January 1st – December 31st) with the Inactive Certificate Holder – Annual Report. The report and the statement from the trustee(s) regarding all trust activities (if applicable) is due within 90 days of the end of the reporting period, January 1st – December 31st (due April 1st). If the Certificate Holder has contracts funded by insurance, then a detailed statement from the insurer showing policy activity must accompany the report.
Instructions for reporting through the online portal can be found here.
Due dates for reporting can be found here.