Iowa Code § 432.14 — Statute of limitations

W ithin five years after the tax return is filed or within five years after the tax return became due, whichever is later , the commissioner of insurance shall examine the return and determine the tax. An assessment or a claim for credit must be made within five calendar years after the annual tax filing is made. F or a five-year period preceding the current calendar year , a company may apply for a credit, or the commissioner may make an assessment, as appropriate. The period of examination and determination of the correct amount of tax is unlimited in the case of a false or fraudulent return made with the intent to evade tax or in the case of a failure to file a return. 98 Acts, ch 1057, §1