Florida Regulations 69K-5.0024: Remittances to the Regulatory Trust Fund
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The amounts required to be remitted by a preneed licensee to the Regulatory Trust Fund, pursuant to the provisions of Florida Statutes § 497.453(9), shall be determined in accordance with the following criteria:
(1) A preneed contract or arrangement shall be deemed to be written within the meaning of Florida Statutes § 497.453, when a preneed contract or arrangement is executed by both the purchaser and the preneed licensee or its agent. A remittance for a preneed contract or arrangement dated within a specific quarter shall be submitted in the report for such quarter.
(2) Beginning with contracts written July 1, 2009, each preneed licensee shall remit to the Regulatory Trust Fund of the Department of Financial Services a fee of $6.00 for each preneed contract written; regardless of any payments made by the purchaser.
(3) Assessments required to be remitted pursuant to Florida Statutes § 497.453, shall not be payable from funds subject to the trust provisions of sections 497.458 and 497.464, F.S. Refund of a regulatory trust fund fee by a licensee to its customer shall not relieve the licensee of its obligation to remit regarding that contract under Florida Statutes § 497.453(6)
(4) Contracts canceled within thirty days of execution as provided by Florida Statutes § 497.453, shall not be counted as a contract sold for purposes of determining the amount to be remitted to the Regulatory Trust Fund.
(5) If a contract is canceled after thirty days of execution, the preneed licensee shall not be entitled to credit the remittance for that contract against future remittances.
(6) Quarterly preneed remittances must be made by preneed licensees in the following manner:
(a) Servicing agents must follow the procedures in Form DFS-PNS-1, User Manual for Servicing Agents for the Preneed Remittance System (PNRS) (Eff. 04/22), which is hereby incorporated by reference and available at https://www.flrules.org/Gateway/reference.asp?No=Ref-14144 or on the Department’s website: https://www.myfloridacfo.com/Division/funeralcemetery/Licensing.
(b) Appointing agents and third-party users must follow the procedures in Form DFS-PNS-2, User Manual for Appointing Entity Users for the Preneed Remittance System (PNRS) (Eff. 04/22), which is hereby incorporated by reference and available at https://www.flrules.org/Gateway/reference.asp?No=Ref-14145 or on the Department’s website: https://www.myfloridacfo.com/Division/funeralcemetery/Licensing.
(7) No preneed licensee is entitled to a refund of its contribution to the Regulatory Trust Fund. A preneed licensee who overpays the amount due to the Regulatory Trust Fund may make the necessary adjustments in future reports, provided the adjustment is adequately disclosed and includes a reasonable explanation therefor.
(8) It is the responsibility of the preneed licensee to ensure the correct report and remittance is made.
Rulemaking Authority 497.103, 497.161, 497.453 FS. Law Implemented 497.103, 497.152, 497.161, 497.453 FS. History-New 5-13-97, Amended 12-12-00, Formerly 3F-5.0024, Amended 6-22-09, 6-7-10, 5-29-22.
Terms Used In Florida Regulations 69K-5.0024
- Contract: A legal written agreement that becomes binding when signed.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
(2) Beginning with contracts written July 1, 2009, each preneed licensee shall remit to the Regulatory Trust Fund of the Department of Financial Services a fee of $6.00 for each preneed contract written; regardless of any payments made by the purchaser.
(3) Assessments required to be remitted pursuant to Florida Statutes § 497.453, shall not be payable from funds subject to the trust provisions of sections 497.458 and 497.464, F.S. Refund of a regulatory trust fund fee by a licensee to its customer shall not relieve the licensee of its obligation to remit regarding that contract under Florida Statutes § 497.453(6)
(4) Contracts canceled within thirty days of execution as provided by Florida Statutes § 497.453, shall not be counted as a contract sold for purposes of determining the amount to be remitted to the Regulatory Trust Fund.
(5) If a contract is canceled after thirty days of execution, the preneed licensee shall not be entitled to credit the remittance for that contract against future remittances.
(6) Quarterly preneed remittances must be made by preneed licensees in the following manner:
(a) Servicing agents must follow the procedures in Form DFS-PNS-1, User Manual for Servicing Agents for the Preneed Remittance System (PNRS) (Eff. 04/22), which is hereby incorporated by reference and available at https://www.flrules.org/Gateway/reference.asp?No=Ref-14144 or on the Department’s website: https://www.myfloridacfo.com/Division/funeralcemetery/Licensing.
(b) Appointing agents and third-party users must follow the procedures in Form DFS-PNS-2, User Manual for Appointing Entity Users for the Preneed Remittance System (PNRS) (Eff. 04/22), which is hereby incorporated by reference and available at https://www.flrules.org/Gateway/reference.asp?No=Ref-14145 or on the Department’s website: https://www.myfloridacfo.com/Division/funeralcemetery/Licensing.
(7) No preneed licensee is entitled to a refund of its contribution to the Regulatory Trust Fund. A preneed licensee who overpays the amount due to the Regulatory Trust Fund may make the necessary adjustments in future reports, provided the adjustment is adequately disclosed and includes a reasonable explanation therefor.
(8) It is the responsibility of the preneed licensee to ensure the correct report and remittance is made.
Rulemaking Authority 497.103, 497.161, 497.453 FS. Law Implemented 497.103, 497.152, 497.161, 497.453 FS. History-New 5-13-97, Amended 12-12-00, Formerly 3F-5.0024, Amended 6-22-09, 6-7-10, 5-29-22.