The financial relief package allows businesses to defer premium reporting and payments until August 31, 2020. Businesses who report and pay monthly, quarterly or annually based on their insurable earnings are eligible for this deferral.
Each customer reports and pays on the previous full month or quarter, for example March 31 reporting and payment obligation covers the period of February 1-29. The following payments are eligible for deferral:
- Monthly: March 31, April 30, May 31, June 30, July 31, Aug 31
- Quarterly: April 30, July 31
- Annual: April 30
The relief package also applies to Schedule 2 organizations – publicly funded organizations (municipalities, hospitals, school boards), and other businesses who are involved in federally regulated industries. All payment obligations (weekly and monthly) for Schedule 2 businesses will be deferred until August, 31, 2020.
No interest will accrue on outstanding premium payments for Schedule 1 businesses and no penalties will be charged during this six-month deferral period. Schedule 2 account balances will not accrue debit interest as part of the financial relief package.
The best way to manage your account is through our online services or email us at firstname.lastname@example.org. If you need urgent assistance with your account, please call us at 1-800-387-0750, Monday to Friday 7:30 a.m. to 5 p.m.
How do I apply for the financial relief package?
All businesses covered by the WSIB’s workplace insurance are automatically eligible for the financial package. No action is required from businesses to receive the financial relief.
Does my business have to participate in the financial relief package?
You do not have to participate in the financial relief package. You can continue to report and pay on a monthly, quarterly or annual basis. You can also report now and defer payment until later.
Payment can be made online through:
- your online banking or financial institution
- credit or debit using Paymentus
You may also still make payment via cheque to P.O. Box 4115 Station A Toronto M5W 2V3.
Please don't mail your cheque directly to the WSIB. All businesses, including Schedule 2 organizations must include the account number on the cheque.
How and when will businesses be required to make deferred payments if they choose to participate in the financial relief package?
We are continuing to assess the financial impact of the COVID-19 situation on Ontario businesses and how best we can support you through this difficult time. We will provide further information on next steps for businesses that participate in the financial relief package as available.
Will the WSIB continue to send account related communications as part of the relief package?
We are continuing to assess which account related communications will continue through the duration of the financial relief package. We will provide further information as available.
Businesses can continue to manage their accounts through our online services. You can also email us at email@example.com or if you need urgent assistance with your account, please call us at 1-800-387-0750, Monday to Friday 7:30 a.m. to 5 p.m.
If I choose to defer premium payments as part of the financial relief package, how will my premium rates be impacted for the remainder of the year?
We will continue to work with businesses that choose to participate in the financial relief package to determine how deferred payments will be made and how rates will be set moving forward. We are still working on some of the processes related to the package and we will provide more information as it becomes available.