Every year, all employers registered with Alberta's Workers' Compensation Board (WCB) must complete an Annual Payroll Estimate even if the amount is zero.
If you have workers, you're required to report by February 28 both your insurable earnings for the past year and an estimate of what you expect to pay in the current year. Your annual return PIN letter will be mailed to you at the end of December/early January. Log in and click File my annual return.
WCB will multiply your payroll estimate by your firm’s premium rate to determine your premium.
Information needed to complete your Annual Payroll Estimate includes:
- 2021 financial records, T-4 and/or T-4A summaries
- Records of amounts paid for regular, contract or casual labour in 2021
- Other records you need to estimate your 2022 payroll
- WCB Account Number
- Date your workers were (or will be) hired
- PIN Accesss Code from the Annual Payroll Reporting letter received
Employers who fail to report an accurate amount within the time frames specified may be charged penalties for late registration, late filing, or under estimating their payroll.
Mark your calendar to periodically review your payroll throughout the year. Employers must revise their estimate when it no longer reflects the amount they expect to pay to workers for the year. Estimates may be revised any time during the year, up to the last business day of December. Whether adjusting for an increase or a decrease in payroll compared to the estimated amount, notifying WCB allows for an adjustment to your account to appropriately reflect your coverage.