There are three primary components to the captive application fee totaling $1,175. All are payable to the Arizona Department of Insurance and Financial Institutions. The components are:

$1000 – new license,

$100 – examiners revolving fund

$75 – charter document fee

Note: There is normally also a $60 fee payable to the Arizona Corporation Commission (not to DIFI) related to the legal entity formation. See the ACCs website for specific information.

The initial application fee represents the license fee for the first year (or partial year) of the captive’s licensing. As an example, a calendar year captive that gets its initial license effective November 1, 2022, will be expected to make its first annual report filings based on the two months of licensing and pay the first annual license renewal fee ($5,500) in connection with those filings by March 31, 2023.