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 2019, as well as those who close an account during the year must reconcile.
If you are completing your 2019 reconciliation, please use your classification unit and rate information from 2019.
If you are closing an account in 2020, you’ll need to complete the paper-based form using your new North American Industry Classifications System (NAICS) code and class/subclass, based on your business activities.
Complete your reconciliation online
Our online reconciliation form provides prepopulated information and does the calculations for you.
2019 reconciliations are due March 31, 2020.
Completing the paper-based reconciliation form for 2019 reconciliations
The reconciliation guide is designed to support you in completing the paper-based reconciliation form.
Click on the more information icons within the guide for more information about each section.
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 2019, the annual maximum for insurable earnings was $92,600
If you are closing an account in 2020, use the annual insurable earnings maximum of $95,400.
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 classification unit (CU)
- Calculate the actual premium for each CU
- Add up the premiums from all CUs
- Compare the total premium amount owing to the total premium amount that was reported
- 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, 2020
- Use only the reconciliation form we send you