2020 Form 1120-PC US Property and Casualty Insurance Company Income Tax Return

Form 1120-PC (2020) U.S. Property and Casualty Insurance Company Income Tax Return

For calendar year 2020, or tax year beginning , 2020, ending , 20

Go to www.irs.gov/Form1120PC for instructions and the latest information.

Please print or type

A. Check if:

Consolidated return (attach Form 851)

Life-nonlife consolidated return

Schedule M-3 (Form 1120-PC) attached

B. Employer identification number

C. Date incorporated

D. Check applicable box if an election has been made under section(s):

E. Check if:

Final return

Name change

Address change

Amended return

Tax Computation and Payments

1. Taxable income (Schedule A, line 37)

2. Taxable investment income for electing small companies (Schedule B, line 21)

3. Check if a member of a controlled group (attach Schedule O (Form 1120))

4. Income tax

5. Enter amount of tax that a reciprocal must include

6. Base erosion minimum tax amount (attach Form 8991)

7. Add lines 4 through 6

Credits and Payments

8a. Foreign tax credit (attach Form 1118)

8b. Credit from Form 8834 (attach Form 8834)

8c. General business credit (attach Form 3800)

8d. Credit for prior year minimum tax (attach Form 8827)

8e. Bond credits from Form 8912

8f. Total credits

9. Subtract line 8f from line 7

10. Foreign corporations—Tax on income not connected with U.S. business

11. Personal holding company tax (attach Schedule PH (Form 1120))

12. Other taxes

13. Total tax

Estimated Taxes and Payments

14. 2020 Net 965 tax liability paid from Form 965-B

15a. 2019 overpayment credited to 2020

15b. Reserved for future use

15c. 2020 estimated tax payments

15d. 2020 Net 965 tax liability from Form 965-B

15e. Less 2020 refund applied for on Form 4466

15f. Total of lines 15a through 15d less line 15e

15g. Tax deposited with Form 7004

15h. Credit by reciprocal for tax paid by attorney-in-fact

15i. Other credits and payments

15j. Reserved for future use

16. Estimated tax penalty Check if Form 2220 is attached

17. Amount owed

18. Overpayment

19. Enter amount from line 18: Credited to 2021 estimated tax Refunded

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Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete.

Schedule A Taxable Income—Section 832

1. Premiums earned

2. Dividends and inclusions

3a. Interest (including tax-exempt interest)

3b. Interest exempt under section 103

3c. Subtract line 3b from line 3a

3d. Taxable interest

4. Rents

5. Royalties

6. Capital gain net income

7. Net gain or (loss) from Form 4797

8. Certain mutual fire or flood insurance company premiums

9. Income on account of special income and deduction accounts

10. Income from protection against loss account

11. Mutual interinsurers or reciprocal underwriters—decrease in subscriber accounts

12. Reserved for future use

13. Other income

Schedule B Part I—Taxable Investment Income of Electing Small Companies

1a. Interest (including tax-exempt interest)

Schedule C Dividends, Inclusions, Dividends-Received Deduction, and Other Special Deductions

1. Dividends from less-than-20%-owned domestic corporations

2. Dividends from 20%-or-more-owned domestic corporations

17. Total dividends and inclusions

30. Total deductions

Schedule E Premiums Earned—Section 832

1. Net premiums written

2a. Life insurance reserves included in unearned premiums

7. Premiums earned

Schedule F Losses Incurred

1. Losses paid during the tax year

8. Losses incurred

14. Losses incurred deductible under section 832(c)(4)

Schedule G Other Capital Losses

1. Dividends and similar distributions paid to policyholders

12. Totals (column g)

Schedule H Special Deduction and Ending Adjusted Surplus

1. Healthcare claims incurred during the tax year

6. Special deduction

10. Ending adjusted surplus

Schedule I Other Information

1. Check method of accounting: Cash Accrual Other

2. Kind of company: Mutual Stock

3. Did the corporation own 50% or more of voting stock of a domestic corporation? Yes No

4. Is the corporation a subsidiary in an affiliated group or a parent-subsidiary controlled group? Yes No

5. Did any individual, partnership, corporation, estate, or trust own 50% or more of the corporation’s voting stock? Yes No

6a. Foreign person ownership percentage

6b. Owner’s country

10. NOL election to forgo carryback period

12. Required to file Schedule UTP? Yes No

13. MLR numerator MLR denominator MLR

14a. Diversification requirements satisfied? Yes No

15. Gross receipts of at least $500 million in any of the 3 preceding tax years? Yes No

16. Interest or royalty disallowed under section 267A? Yes No

17. Election under section 163(j) in effect? Yes No

18. Required to file Form 8990? Yes No

Schedule L Balance Sheets per Books

1. Cash

2a. Trade notes and accounts receivable

15. Total assets

29. Total liabilities and shareholders’ equity

Schedule M-1 Reconciliation of Income (Loss) per Books With Income (Loss) per Return

1. Net income (loss) per books

10. Income (Schedule A line 35, or Schedule B line 19)

Schedule M-2 Analysis of Unappropriated Retained Earnings per Books

1. Balance at beginning of year

8. Balance at end of year

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