Schedule M-3 (Form 1120-PC) Template

Use this template to reconcile income statement amounts with taxable income for Form 1120-PC.

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Why use an insurance company net income reconciliation form?

Organize income statement data, includible corporation totals, and book-to-tax differences for property and casualty insurers.

Identify return type

Mark non-consolidated, consolidated, mixed group, or dormant subsidiary reporting status.
Reconcile income

Connect financial statement income with taxable income using income and loss item lines.
Track expense differences

Report temporary and permanent differences for deductions, expenses, and special items.

This template covers Schedule M-3 sections for property and casualty insurance company reconciliation.

Financial statement information
Captures income statement source, period, restatements, and SEC filing details.
Asset and liability totals
Records total assets and liabilities of entities included or removed from reporting.
Income reconciliation
Lists income items such as premiums, interest, gains, partnerships, and contracts.
Expense reconciliation
Covers deductions such as reserves, amortization, depreciation, interest, and credits.
Consolidated group details
Identifies parent, subsidiary, eliminations, and mixed 1120/L/PC group reporting.
Reconciliation totals
Combines income, expense, and other items into the totals required by the schedule.