Reconciliation guide

Forms: Due dates, interest and charges


* IE is insurable earnings

The WSIB sets an annual maximum for insurable earnings.  For 2013, the annual maximum was $83,200.  For 2014, the annual maximum is $84,100.

Forms Due dates Non-compliance/interest & charges
Reconciliation
Monthly reporting frequency March 31
  • Period Reconciliation Not Reported (PRNR): WSIB will calculate a premium based on our records and charge 1% of this amount, up to $1,000 each month until the Reconciliation Form is received
  • Debit/Credit Interest: interest charged or applied on a reconciled difference upon reconciliation. Various quarterly interest rates apply during the period for which interest is calculated
  • Late payment charge if amount owing
Quarterly/Annual reporting frequency  
  • Period Reconciliation Not Reported (PRNR): For annual or quarterly employers only, the WSIB will calculate a premium based on our records and charge 1% of this amount, up to $1,000 each month until the outstanding Premium Remittance Form for the prior year reporting period is received
  • Debit/Credit Interest: interest charged or applied on a reconciled difference upon reconciliation. Various quarterly interest rates apply during the period for which interest is calculated
  • Late payment charge if amount owing
Premium Remittance
Monthly reporting frequency End of the following month (e.g. for January, the last day of February)
  • Premium not reported (PNR): WSIB will calculate a premium based on our records and charge 5% of this amount
  • Late payment charge if amount owing
Quarterly reporting frequency End of the month following the end of the quarter (e.g. for first quarter, April 30)
Annual reporting frequency April 30
Statement of account
All reporting frequencies Issued monthly
unless there is no balance owing
  • For debit balances, WSIB charges a late payment charge for each month the account is in arrears
  • For credit balances, WSIB applies interest using the applicable interest rate for the month if the credit balance appears at both the start and end of the month
Important
Interest on the reconciled difference


If the reconciled difference is an amount due to the WSIB, you will be charged interest on this amount at the Bank of Canada rate, plus 6%.

If the reconciled difference is a credit to the account, the WSIB will apply interest on this amount at the Bank of Canada rate.

Interest rates are adjusted quarterly.