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 2020, as well as those who closed an account during the year must reconcile.
Complete your reconciliation online
Our online reconciliation form provides prepopulated information and does the calculations for you.
2020 reconciliations are due March 31, 2021.
Information you need to reconcile
The WSIB sets an annual maximum for insurable earnings. For 2020, the annual maximum for insurable earnings was $95,400.
If you are closing an account in 2021, use the annual insurable earnings maximum of $97,308.
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, 2021.
Key information to avoid costly penalties
- Contact us 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, 2021
- Use only the reconciliation form we send you
Paper-based reconciliation guide
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.