New Mexico Appointment Renewal for 2015

Key Information:
In 2015, New Mexico will again process all appointment renewals electronically through the National Insurance Producer Registry (NIPR). 

IMPORTANT RECONCILIATION INFORMATION

 IMPORTANT PAYMENT INFORMATION
Payments for New Mexico Appointment Renewals MUST be received by NIPR through the Electronic Options made available

NOTE:  NO PAPER CHECKS:
·        Companies that submit a payment to NIPR via paper check will not have their renewal invoice processed and will have the payment refunded to them
·        Since receipt of a paper check is through a lock box account, NIPR may take several days to post the paper check and issue a refund check to your company. 
o       NIPR is not responsible for any renewal late fees incurred during this period

NIPR Transaction Fees
The NIPR processing fee per invoice will equal 1% of the total state fees charged with a minimum of $5.00 and a maximum of a $1,000.00
Example:
# of appts        Price        Total
100                  $20.00     $2000.00

Transaction fee is 1% of $2000.00 or $20.00

Late Fee Example:
# of appts        Price        Total
100                  $30.00     $3000.00

Transaction fee is 1% of $3000.00 or $30.00

 

New Mexico State Appointment Renewal Fees

March 2, 2015

To

April 30, 2015

$20/LOA/Appointment

May 1, 2015

To

May 29, 2015

$30/LOA/Appointment ($20/LOA/Appointment plus $10 Late Fee)

After May 30, 2015

 

 

Payments received will be refunded.  (Minus NIPR fees)

 

Payment Method and other Fees

Credit Card

 No processing fee

If you are paying by credit card (Visa, MasterCard, American Express, or Discover) the process will be entirely electronic. Please note there is a $60,000 limit on Credit Card payments. If your invoice exceeds $60,000, you must choose an alternative payment method. If you have questions regarding the other methods, please call NIPR Customer Service. An appropriate receipt will be displayed for you to print for your records.

Electronic Check

There are no check processing fees for utilizing the electronic check payment method but NIPR transactions fees will apply

  • A few banks or credit unions may not participate in electronic check services
  • If your bank needs a pre-authorization to use this electronic check service you will need to provide your financial institution with this information: NIPR ACH-9431763793.
  • There is a $25.00 returned check charge for any electronic check that does not clear the applicant’s bank. Additionally, the state will be notified if any issue with payment is not promptly resolved, possibly resulting in non-renewal of appointments or a reversal of renewals, until payment is made.

PayPal Account

No processing fee

 

NIPR processing fees are not refundable.

Process after March 2, 2015 when the electronic invoices are on the website is: 

If you have any questions regarding the appointment renewal process, contact: