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08/08/2018

BWC Payroll True-up CORRECTION

 

CareWorksCompCORRECTION & FINAL NOTICE

BWC payroll true-up reports are due by August 15

Prior to each policy year the Ohio Bureau of Workers’ Compensation (BWC) establishes your estimated premium based on the most recent payroll that was reported to BWC. Once the policy year is completed you must complete the true-up report. The true-up is a reconciliation of your BWC estimated payroll versus your actual policy year payroll used to determine the correct amount of chargeable premium. If your actual payroll exceeds BWC estimates you will owe BWC additional premium based on your higher payroll and if your actual payroll is lower than BWC estimates you will receive a premium credit. 

The 2017 rate year ended June 30 and the 2017 policy year true-up (July 1, 2017 through June 30, 2018) must be completed by August 15! 

The true-up is mandatory and is required of all employers even if you have zero payroll. 

The true-up report must be completed online and can be accessed through the BWC webpage through this link:  https://www.bwc.ohio.gov/formslogin.aspx.

Failure to true-up can be costly. Failure to complete the true-up will result in BWC removing your company from all 2017 policy year rating and rebate programs, including group rating programs, and will also make your company ineligible for these programs for the 2018 policy year beginning July 1, 2018.

CORRECTION: BWC has indicated they will not lapse coverage due to failure to true-up. 

It is very important to understand that BWC considers the true-up completed when your payroll is reported and any outstanding premium balances are paid.


Maximize Your Savings With Our Workers' Compensation Program

If you are not using the Association's group rating programs, you should be!

Printing Industries of Ohio • N.Kentucky partners with CareWorksComp to help employers maximize their BWC premium savings and now is a great time to check out the savings!

Read more about our partnership with CareWorksComp here.

Start Saving Now!  For a no-cost, no-obligation analysis if your potential savings, please complete the online Temporary Authorization to Review Information Form. 

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