# ASC 405-30-50: Liabilities — Insurance-Related Assessments — 50 Disclosure

Source: FASB Accounting Standards Codification, Basic View

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## ASC 405-30-50: 50 Disclosure

[Read section](https://asc.understandingaccounting.org/asc/405/30/#50-disclosure)

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##### [405-30-50-1](https://asc.understandingaccounting.org/asc/405/30/#405-30-50-1)

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Sections 275-10-50 and 450-20-55 address disclosures related to loss contingencies. That guidance is applicable to assessments covered by this Subtopic. Additionally, if amounts have been discounted, the entity shall disclose in the financial statements the undiscounted amounts of the liability and any related asset for [premium tax offsets](https://asc.understandingaccounting.org/glossary/p/#premium-tax-offsets "Offsets against premium taxes levied on insurance entities by states.") or policy surcharges as well as the discount rate used. If amounts have not been discounted, the entity shall disclose in the financial statements the amounts of the liability, any related asset for premium tax offsets or policy surcharges, the periods over which the assessments are expected to be paid, and the period over which the recorded premium tax offsets or policy surcharges are expected to be realized.