FLORIDA: Data Call Submission Enforcement Delayed Until September 1, 2020 by CFO Directive 2020-10
On May 15, the Florida Department of Financial Services issued CFO Directive 2020-10, which suspends enforcement of the Florida title agent data call until September 1, 2020.
Every title agency and insurer licensed in Florida, along with each insurer’s direct or retail business in the state, must submit the data call annually by May 31, pursuant to F.S. 627.782. The data call requires that specified information, including federal income tax information, be provided to the Office of Insurance Regulation. Note that the data call form was improved and revised this year, most significantly to eliminate Schedule C.
Attorneys are not required to comply with the data call, but attorney-owned title agencies must comply.
CFO Directive 2020-10 states that: “The Department of Financial Services shall not enforce the provisions of Sections 626.8437(9), and 626.8437(11), Florida Statutes, with respect to title insurance agents and agencies who do not meet the May 31 deadline provided in Section 627.782(8), Florida Statutes. The Suspension of enforcement actions shall remain in effect until September 1, 2020.”
If you have any questions, please contact
, Florida State Counsel.