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 reported and paid premiums monthly in 2021, as well as those who closed an account during the year must reconcile. If you have received a preprinted reconciliation form, please complete the form and return it to us.
Complete your annual reconciliation online
Our online annual reconciliation application, for monthly reporting businesses only, provides prepopulated information (including the amount of premiums you have reported for the year – previously found in Box 14 on the paper reconciliation form) and does the calculations for you.
To access our online reconciliation application you will need to log in to your online services account or sign up for an account if you haven’t already done so.
2021 annual reconciliations are due March 31, 2022. You do not need to reconcile if you report annually or quarterly.
Information you need to reconcile
The WSIB sets an annual maximum for insurable earnings. For 2021, the annual maximum for insurable earnings was $97,308.
If you are closing an account in 2022, use the annual insurable earnings maximum of $100,422.
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:
- Determine the insurable earnings for each NAICS code (NC)
- Calculate the actual premium for each NC
- Add up the premiums from all NCs
- Compare the total premium amount owing to the total premium amount that was reported
- Include 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, 2022.
You can contact us to request a paper form if you are unable to complete the reconciliation form online. Please keep the below in mind if completing the paper form to avoid costly penalties:
- 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, 2022
- Use only the reconciliation form we send you
The reconciliation guide is designed to support you in completing the paper-based reconciliation form.
See our 2019 reconciliation guide if you are reconciling for years prior to 2020.