Reconciliation helps 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 2022, 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 via mail to P.O. Box 4115, Station A, Toronto, ON M5W 2V3.
Complete your annual reconciliation online
Our online annual reconciliation application – for monthly reporting businesses only – provides pre-populated 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.
You can also complete your reconciliation in one simple transaction through your online banking. Learn more about how to report, pay and reconcile your premiums.
2022 annual reconciliations are due March 31, 2023. 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 2022, the annual maximum for insurable earnings was $100,422.
If you are closing an account in 2023, please use the annual insurable earnings maximum of $110,000.
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 North American Industry Classification System (NAICS) code
- Calculate the actual premium for each NAICS code
- Add up the premiums from all NAICS codes
- 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, 2023
You can contact us to request a paper form if you are unable to complete the reconciliation form online. Please keep the following information in mind if you are completing the paper form to avoid costly penalties:
- do not write over any pre-printed 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 via mail to P.O. Box 4115, Station A, Toronto, ON M5W 2V3, so that the WSIB receives it no later than March 31, 2023
- 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.