To continue to help reduce the financial burden on businesses during COVID-19, WSIB announced that repayment of deferred WSIB premiums as part of our financial relief package will not begin before January 2021.
WSIB’s financial relief package deferment period comes to an end on August 31, 2020. Regular reporting and payment schedules for all businesses who report and pay monthly, quarterly or annually based on their insurable earnings will resume in September.
“OTA expects additional details from the WSIB over the coming weeks outlining the exact schedule for repayment,” said Jonathan Blackham, OTA’s director of Policy and Public Affairs. “OTA has sent the WSIB a detailed submission dealing with the repayment schedule issue along with a number of other considerations outlining the industry’s views on how the WSIB could proceed.”
For now, the WSIB has stated this, below:
Reporting: Schedule 1 businesses are encouraged to start reporting deferred premiums now and will have to report all deferred amounts by October 31, 2020. You can report your deferred premiums by:
- usingonline services;
- emailing us at employeraccounts@wsib.on.ca with each outstanding period clearly defined. For example: August 2020 – payroll = $100, premiums = $10;
- complete the premium remittance form for the corresponding reporting period and mail to P.O. Box 4115 Station A Toronto M5W 2V3
Payment: Repayment of deferred WSIB premiums, claim payments and administrative fees between March to August 2020, will not be due before January 2021 for all Schedule 1 and 2 businesses. Businesses may choose to start making deferred payments prior to January 2021. We will provide more information on the repayment schedule for deferred amounts, along with 2021 premium rate information, in the fall.
WSIB has stated that it recognizes some businesses could require longer repayment terms due to the ongoing pandemic. Businesses that require additional support once the repayment period has started, are encouraged to contact WSIB.
Beginning September 1, 2020, all upcoming payment obligations will be due on the normal payment cycle for all businesses, as outlined on statements or invoices.
The best way to manage your account is through our online services. For questions and additional support on reporting and payment of deferred premiums, you can email employeraccounts@wsib.on.ca or call 1-800-387-0750, Monday to Friday 7:30 a.m. to 5 p.m.
For more details on how WSIB is continuing to support businesses, visit COVID-19 page and read the FAQs for business accounts, and FAQs about claims and COVID-19.