What is the payroll true-up?
Payroll true-up is a new process that requires employers to report their actual payroll for the previous policy year and reconcile any differences in premium paid. This important step is necessary for us to accurately calculate your premium. It’s also critically important to maintaining your policy and your participation in your current rating plan or discount programs. You must complete the payroll true-up report even if your payroll for the completed policy year matches the estimate we provided at the beginning of the policy year or you had zero payroll.
Submitting your payroll true-up report online
The quickest and easiest way to true-up is online with a BWC e-account. Just follow these steps:
- First, be sure you’ve logged on to www.bwc.ohio.gov with your BWC e-account by entering your user ID and password. Don’t have an e-account? Just click the Create e-account link near the top right-hand corner of the home page and follow the instructions.
- From the left-side menu under Payroll/Premium, select Payroll true-up reports;.
- Next, click the drop-down arrow to select which period you wish to complete, click that period, and then click next;.
- Enter the number of employees and your actual payroll for each manual code, and click next.
Please note: We will calculate the prospective billing transition credit and make any necessary adjustments based on the reporting of actual payroll. It will be equal to 1/6 of the premium for the 2015 policy year. The system completes its calculation, and you’ll see a net transaction amount.
If you do not owe additional premium or have a credit
If you do not owe additional premium or have a credit as your net transaction amount, click submit on the verification page, complete the BWC electronic signature page, and click I agree and you are finished. You should print the confirmation page for your records.
If you owe additional premium
If you owe additional premium, you may choose to:
- Pay in full (use this option to pay the entire net transaction amount due);
- Pay another amount (use this option to pay the net transaction amount and any other amounts due);
- Submit without payment (use this option if you are going to submit payment with voucher or will be paying online at a later date).
If you decide to pay at the time you report actual payroll online, the system will prompt you to enter your payment information. If you decide to submit your actual payroll without payment, you’ll need to print the payment coupon from the confirmation page, which you’ll mail to BWC. Remember, we must receive payment by the due date of the true-up for us to consider it completed on time.
Finally, be sure to print the payroll true-up confirmation page for your records. Now, you’ve successfully submitted your payroll true-up report.
You only have until the payroll true-up deadline of Aug. 15, 2016, to submit your payment to BWC. Please allow two business days for payments to post to your account.