Rules & Regulations of the State of Tennessee
Title 0780 - Commerce and Insurance
Subtitle 0780-01 - Insurance Division
Chapter 0780-01-70 - Tennessee Charitable Gift Annuities Regulations
Section 0780-01-70-.06 - ANNUAL REPORTING REQUIREMENTS

(1) A charitable organization authorized under this Chapter shall annually file a report verified by at least two (2) principal officers with the commissioner covering the preceding fiscal year. The report is due ninety (90) days after the close of the charitable organization's fiscal year or at a later date approved by the commissioner. In lieu of a verified report, a charitable organization may submit a report that has been audited by an independent qualified certified public accountant within one hundred and fifty (150) days after the close of the charity's fiscal year.

(2) All charitable organizations maintaining a charitable gift annuity separate account that equals one hundred ten percent (110%) of the reserves must annually submit an actuarial opinion prepared by a qualified actuary concurrently with either the verified report or the audited report.

(3) All charitable organizations licensed pursuant to this Chapter must use either the annual report form adopted by the commissioner or the state of domicile of the charitable organization if that report contains substantially the same information as the report required by Title 56, Chapter 52. The annual report form adopted by the commissioner shall be made available to each charitable organization upon request.

(4) In addition to the form required by this Rule, all charitable organizations licensed pursuant to this Chapter must submit an annual continuance fee in the amount of one hundred dollars ($100.00) by March 1.