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Completing the reconciliation form

Reconciliation helps to confirm you have reported the right amount in premiums. If you reported too much or too little, we will work with you to correct your account.

Employers that report and pay monthly, as well as all employers who close an account during the year must reconcile.

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The WSIB sets an annual maximum for insurable earnings. For 2017, the annual maximum for insurable earnings was $88,500.

If you are closing an account in 2018, the 2018 annual insurable earnings maximum is $90,300.

The reconciliation process involves several steps to compare the total premiums you reported to the WSIB with your actual premium. To reconcile an account for the reporting period you must:

  1. Determine the insurable earnings for each classification unit (CU)
  2. Calculate the actual premium for each CU
  3. Add up the premiums from all CUs
  4. Compare the total premium amount owing to the total premium amount that was reported
  5. Include payment for any reconciled difference owing to the WSIB with the completed Reconciliation Form. Ensure that the WSIB receives it on or before the due date indicated on your reconciliation form. Ensure that the WSIB receives it on or before March 31, 2018.

Reconciliation guide for employers

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This guide is designed to support you in completing the reconciliation form.

Reminder Click on the more information icons within the guide for more information about each section.

construction helmet

For employers in the construction industry, click on the construction helmet within the guide for more information.

Construction industry employers must complete the reconciliation form if you:

  • Report and pay monthly
  • Are closing their account in 2018
    And if you are:
  • Independent operators closing an account in 2018
  • Sole proprietorships with workers
  • Partnerships with or without workers
  • Corporations with workers and one or more executive officers and
  • Corporations without workers and more than one executive officer

For more information, visit Mandatory Coverage in Construction.

Important Key information to avoid costly penalties

  • Use only the reconciliation form we send you
  • Contact the WSIB for a replacement form if needed.
  • Do not write over any dates or other preprinted data
  • Return the original in the envelope provided
  • Do not return your working copy or any photocopies or faxes of the form. Keep them for audit purposes
  • Return your completed form so that the WSIB receives it no later than March 31, 2018.
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