The Bureau of Workers’ Compensation (BWC) “true-up” window ends at close of business Monday, August 15.
According to the BWC, many state fund companies have not yet completed the true-up.
Employers are required to report their actual payroll for the policy year ended June 30, 2016 and reconcile any differences in premium paid. Employers must complete the true-up report even if their payroll for the year matches the estimate received from BWC.
Failing to true up will disqualify your company for rebates/refunds due in policy year 2015 and render your company ineligible for any BWC discount programs in policy year 2016 as well as policy year 2017.
The quickest and easiest way to true-up is online with a BWC e-account. Learn how to create an e-account here. For true-up instructions, please visit this link. The payroll true-up may also be completed through the BWC call center at (800) 644-6292.
Questions? Contact OMA’s Brian Jackson at (614) 629-6819.