Montana Code 33-35-301. Reporting
33-35-301. Reporting. (1) A self-funded multiple employer welfare arrangement shall comply with the reporting requirements of this section.
Terms Used In Montana Code 33-35-301
- arrangement: means a multiple employer welfare arrangement that does not provide for payment of benefits under the arrangement solely through a policy or policies of insurance issued by one or more insurance companies with a certificate of authority under this title. See Montana Code 33-35-103
- Multiple employer welfare arrangement: means a multiple employer welfare arrangement as defined by 29 U. See Montana Code 33-35-103
(2)Within 3 months following the close of the arrangement‘s year of operations, the arrangement shall file with the commissioner, on forms prescribed by the commissioner:
(a)a statement of financial condition;
(b)a statement of change in financial conditions accompanied by an actuarial opinion that the unpaid claim liability of the arrangement satisfies the standards of 33-2-514. The commissioner may, in the commissioner’s discretion, waive the requirement of an actuarial opinion and require a report prepared by an actuarial firm and, upon a showing of good cause, may extend by 30 days the filing date for the report.
(c)a statement of its contribution rates for the ensuing year;
(d)a statement of operations for the previous year;
(e)if the total payments to the arrangement for participation during the prior year of operations exceeded the sum of $2 million, an audit satisfying the requirements of the commissioner’s rules governing annual audited reports, except that an arrangement audit may be prepared using generally accepted accounting principles. The audit must be certified by an independent certified public accountant. The filing date for the audit must be extended by the commissioner upon a showing of good cause.
(f)additional information as the commissioner reasonably determines to be necessary to determine the financial integrity of the management.
(3)An arrangement shall file with the commissioner a copy of the arrangement’s internal revenue service form 5500 together with all attachments to the form, at the time required for filing the form.