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Title page 1

Contents 3

Highlights 2

Letter 4

Background 6

History of the National Association of Insurance Commissioners 6

NAIC Committees and Offices 6

NAIC Publications and Meetings 7

NAIC Interactions with Federal and Other Entities 8

NAIC's Role in State Regulation of Insurance 9

What is NAIC's role in developing standards for the insurance industry? 9

How does NAIC's accreditation program support standardization? 11

What is NAIC's role in collecting information to assist with state regulation of insurance? 15

NAIC's IRS Filing Requirements and Publicly Reported Information 17

What are IRS's filing requirements for tax exempt organizations? 17

What are NAIC's IRS filing requirements? 19

What are the IRS filing requirements for examples of organizations similar to NAIC? 20

What information collected by Form 990 does NAIC make publicly available? 21

Agency and Third Party Comments 23

Appendix I: Objectives, Scope, and Methodology 24

Appendix II: GAO Contact and Staff Acknowledgments 28

Related GAO Products 29

Figures 3

Figure 1. NAIC's Process for Developing Model Laws 10

Figure 2. Timeline of NAIC's Federal Income Tax Exemption and Form 990 Filing Status 20