UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 12b-25

                                              Commission File Number: 333-115587

                           NOTIFICATION OF LATE FILING

(Check One):
|X| Form 10-K |_| Form 11-K |_| Form 20-F |_| Form 10-Q |_| Form N-SAR
|_| Form N-CSR

         For Period Ended: December 31, 2005
                           -----------------

         |_| Transition Report on Form 10-K
         |_| Transition Report on Form 20-F
         |_| Transition Report on Form 11-K
         |_| Transition Report on Form 10-Q
         |_| Transition Report on Form N-SAR

         For the Transition Period Ended:_________________

         Nothing in this form shall be construed to imply that the Commission
         has verified any information contained herein.

         If the notification relates to a portion of the filing checked above,
identify the Item(s) to which the notification relates: ____________________

                                     PART I
                             REGISTRANT INFORMATION

North Atlantic Holding Company, Inc.
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Full Name of Registrant

N/A
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Former Name if Applicable

3029 West Muhammad Ali Boulevard
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Address of Principal Executive Office (Street and Number)

Louisville, Kentucky 40212
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City, State and Zip Code


                                     PART II
                             RULES 12b-25(b) AND (c)

           If the subject report could not be filed without unreasonable effort
or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the
following should be completed. (Check box if appropriate.)

     |X|  (a) The reasons described in reasonable detail in Part III of this
          form could not be eliminated without unreasonable effort or expense;

          (b) The subject annual report, semi-annual report, transition report
          on Form 10-K, Form 20-F, Form 11-K, Form N-SAR or Form N-CSR, or
          portion thereof, will be filed on or before the fifteenth calendar day
          following the prescribed due date; or the subject quarterly report or
          transition report on Form 10-Q or subject distribution report on Form
          10-D, or portion thereof, will be filed on or before the fifth
          calendar day following the prescribed due date; and

          (c) The accountant's statement or other exhibit required by Rule
          12b-25(c) has been attached if applicable.

                                    PART III
                                    NARRATIVE

State below in reasonable detail the reasons why Forms 10-K, 11-K, 20-F, 10-Q,
N-SAR, N-CSR, or the transition report or portion thereof, could not be filed
within the prescribed time period. (Attach extra sheets if needed.)

     North Atlantic Holding Company, Inc. (the "Company") was unable to file its
     Annual Report on Form 10-K for the year ending December 31, 2005 prior to
     the 5:30 p.m. deadline on March 31, 2006 without unreasonable effort or
     expense due to significant turnover in its accounting and finance staff
     during the second half of 2005 and early 2006, including the resignation of
     the Vice President of Finance in December 2005, and because of the amount
     of work necessary to complete the financial statements and related
     disclosures for both the Company and its direct, wholly-owned subsidiary,
     North Atlantic Trading Company, Inc. However, the Company's Form 10-K was
     filed at 9:57 p.m. on March 31, 2006.

                                     PART IV
                                OTHER INFORMATION


(1)  Name and telephone number of person to contact in regard to this
     notification

Brian C. Harriss                                    (502) 778-4421
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(Name)                                        (Area Code) (Telephone Number)

(2)  Have all other periodic reports required under Section 13 or 15(d) of the
     Securities Exchange Act of 1934 or Section 30 of the Investment Company Act
     of 1940 during the preceding 12 months or for such shorter period that the
     registrant was required to file such report(s) been filed? If answer is no,
     identify report(s). |X| Yes | | No


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(3)  Is it anticipated that any significant change in results of operations for
     the corresponding period for the last fiscal year will be reflected by the
     earnings statements to be included in the subject report or portion
     thereof? |X| Yes |_| No

If so: attach an explanation of the anticipated change, both narratively and
quantitatively, and, if appropriate, state the reasons why a reasonable estimate
of the results cannot be made.


     The Company reported a $10,117,000 net income applicable to common shares
     for the year ended 2005 as compared to a net loss of $36,535,000 applicable
     to common shares for the prior year as described in the Company's Annual
     Report on Form 10-K for the year ending December 31, 2005, which has been
     filed.


                                  North Atlantic Holding Company, Inc.
                               -------------------------------------------------
                               (Name of Registrant as Specified in Charter

has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.

Date: April 3, 2006
                                       NORTH ATLANTIC HOLDING COMPANY, INC.


                                       By:    /s/ Brian C. Harriss
                                              ----------------------------------
                                       Name:  Brian C. Harriss
                                       Title: Chief Financial Officer







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