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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.

Businesses that report and paid premiums monthly in 2018, as well as those who close an account during the year must reconcile.

Complete your reconciliation online

You asked us for it; now starting March 1, 2019 you can complete your reconciliation online.

Completing the paper-based reconciliation form

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The reconciliation guide is designed to support you in completing the paper-based reconciliation form.

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

construction helmet

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

For details on the businesses in construction that must complete a reconciliation, see the construction hat symbol under who needs to complete a Reconciliation Form?

For more information, visit Mandatory Coverage in Construction.

Information you need to reconcile

The WSIB sets an annual maximum for insurable earnings. For 2018, the annual maximum for insurable earnings was $90,300.

If you are closing an account in 2019, use the annual insurable earnings maximum of $92,600.

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. Incude payment for any reconciled difference owing to the WSIB with the completed reconciliation form. Ensure that the WSIB receives it on or before March 31, 2019.

Key information to avoid costly penalties

  • Contact the WSIB for a paper form if needed, or fill out the reconciliation form online
  • Do not write over any preprinted information, including dates or amounts
  • Return the original form 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, 2019
  • Use only the reconciliation form we send you
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