BWC true-up reports due August 15
Ohio private employers have until August 15, 2018, to complete their payroll true-up reports. Payroll true-up reports are forms requiring private employers “to report their actual payroll for the previous policy year and reconcile any differences in premium paid.” A policy year runs from July 1 to June 30, and at the end of a policy year, an employer’s workers’ compensation premiums are calculated.
Private employers must complete payroll true-up reports even if their payroll for the completed policy year matches the estimate the Bureau of Workers’ Compensation (BWC) provided at the start of the policy year or if the employer’s payroll is zero.
True-up reports can be submitted online under a private employer’s BWC e-account. Not only is completing true-up reports online the most efficient way to submit these forms, but eligible employers will also qualify for a one percent premium rebate (up to $2,000) for doing so.
Failing to true-up by the August 15 deadline could result in employers being removed from current rating and discount programs.