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 your insurable earnings by February 28, 2017. Your annual return PIN letter will be mailed to you at the end of December/early January 2017. You can log in and submit your annual return starting on January 1, 2017.
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:
- 2016 financial records, T-4 and/or T-4A summaries
- Records of amounts paid for regular, contract or casual labour in 2016
- Other records you need to estimate your 2017 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 financial penalties for late registration, late filing, or under-estimating.
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.
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