State Requirements

Business Rules

• Applicants must be one of the Legal Business Types listed below.   
  • Partnership   
  • Corporation   
  • Sole Proprietorship   

• Applicants must list at least one actively licensed Designated Responsible Licensed Producer (DRLP) on the business entity application.   
  • The list of DRLP’s lines of authority must cover all lines requested by the business entity.   

• Applicants must list at least one Owner, Partner, Officer or Director on the application.    

• Applicants must actively hold or be renewing for Insurance Producer Life when renewing Insurance   Producer Variable Life and Annuity.  

• Applicants applying for Variable Life and Annuity must enter FINRA CRD number as part of the application.    

• Applicant must hold an active Broker license to be eligible to renew Surplus Lines Broker.  

• Applications for the following license classes will be reviewed by Guam for Supplemental Documentation:   
  • RESIDENT BUSINESS ENTITY INSURANCE PRODUCER:  
    • Form I-9 Tax Clearance –https://www.govguamdocs.com/revtax/docs/TAXCLEARANCEAPPLICATIONFORM.pdf 
  • RESIDENT BUSINESS BROKER: 
    • Bonafide place of business (If building owned, letterhead with address will suffice.  If renting, current lease agreement is required). 
    • Audited Financial Statement (unaudited financial statements must be signed by Accountants or President and Treasurer for corporate brokers and notarized). 
    • Proof of Errors and Omission Coverage (for Life only). 
    • Form I-9 Tax Clearance –https://www.govguamdocs.com/revtax/docs/TAXCLEARANCEAPPLICATIONFORM.pdf 
    • Proof of Trust Account – copy of bank trust account statement. 
    • Premium Fund Trust Account Report (PFTA) – must be notarized.  https://www.govguamdocs.com/revtax/docs/PremiumTrustFundAccountAffidavit.pdf 
  • RESIDENT BUSINESS SURPLUS LINE BROKER: 
    • Form I-9 Tax Clearance –https://www.govguamdocs.com/revtax/docs/TAXCLEARANCEAPPLICATIONFORM.pdf 
    • Bonafide place of business (If building owned, letterhead with address will suffice.  If renting, current lease agreement is required). 
    • Audited Financial Statement (unaudited financial statements must be signed by Accountants or President and Treasurer for corporate brokers and notarized). 
    • Proof of Trust Account – copy of bank trust account statement. 
    • Surety Bond of $2,000 (Original bond must be submitted and term of the bond must coincide with the term of license period). 
    • Service of Suit OR Agreement & Power of Attorney OR Other Court Process 
    • Surplus Lines Yearly Insurance Statement for previous year (Copy  of all last year approval letter to be attached on the yearly surplus lines statement for renewal only). 
    • Copy of paid Form I-8 with 2% assessment tax to reconcile with the amounts stated on the yearly statement (Commercial & Industrial) Liability Premium for renewal only). 
    • Copy of paid 5% Premium Tax to reconcile with amounts stated on the yearly statement (Do not submit details of GRT payments, only the page with stamped paid for renewal only). 
    • Reconciliation of Premium Trust Fund Account (Bank Statement ending December 31 of previous year). 

• Please submit supporting documents electronically via NIPR's Attachments Warehouse. 

• Application information will be reviewed and processed by Guam Department of Revenue and Taxation. Most applications will be processed within 7-10 business days. You may check the status of your application here: https://nipr.com/licensing-center. If your application is approved you may visit the following link to print your license: https://nipr.com/help/print-your-license. If applicant responds "yes" to one of the background questions please submit supporting documents electronically via NIPR's Attachments Warehouse.