The Deadline to “True-up” is Near
Kegler Brown E-mployment Alert August 1, 2016
Smart Summary for Employers
- August 15 is the deadline for private employers to report + reconcile differences in their payroll
- The easiest way to comply is to create a “true-up” report online
- Multiple negative consequences for failing to file
As part of the switch from retrospective to prospective billing, the Ohio Bureau of Workers’ Compensation (“BWC”) has established an August 15 deadline for private employers to report their payroll for the year ended June 30 and reconcile any differences in the premiums that they paid.
The simplest way to comply is by clicking on the first yellow box below, creating an e-account with the BWC and filing your “true-up” report online. With just two weeks to go before the deadline, the BWC reports that a significant proportion of Ohio employers had not yet complied.
Note: Failure to file your payroll information before the deadline could result in substantially increased costs because of disqualification from rating plans and/or discount programs.