Reconciliation guide

Additional Information


* 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.

Frequently asked questions

What do I do if I have lost/misplaced my Reconciliation Form?

Print a working copy ( 202.4kb, PDF). To obtain the correct figure for box 5 and box 14 you can:

  • Contact a WSIB account representative
  • Use our ePremium Service if you report online.

May I bring my completed Reconciliation Form to the financial institution I bank with?

No. The WSIB must receive and process the Reconciliation Form.

May I bring the completed Reconciliation Form to my local WSIB office?

Yes. You may also make your payment at the local WSIB office.

Why does box 14 on the Reconciliation Form not match the total payments I made to the WSIB for the year?

Box 14 represents the sum of premiums reported - not paid - to the WSIB within the reconciliation period, as at the date the form was printed. Not all payments made to the WSIB throughout the year necessarily correspond to premiums reported. For details, contact a WSIB account representative.

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What if I owe money as a result of the reconciliation process?

There are several ways to make your payment and file your Reconciliation Form:

  • Mail your Reconciliation Form with a cheque to the PO Box on the Form
  • Mail your Reconciliation Form to the PO Box on the form and pay separately through our ePayment service (available through your financial institution). With ePayment, you can pay using Interac Online and MasterCard.

What is reconciliation interest?

Reconciliation interest is a charge that recognizes the time value of money. It is applied to all reconciliations in which the premium difference is greater than $100. Reconciliation debit interest is charged at the Bank of Canada rate plus 6%.

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Once I complete the Reconciliation Form and Box 16 indicates I have a credit to my account, what happens?

After we verify that the information supplied is correct, the credit will be applied to your account balance. If your account balance is zero or already in a credit position, you may request a refund cheque by contacting a WSIB account representative. If not, the credit will be applied to reduce any outstanding balance.

Important
You should check the messages section of the back of your statement for regular updates.

How are reconciliation adjustments shown on my Statement of Account?

Hover over the letters for additional information

Statement of Account