WCB Payment Statements
At the WCB, we are always looking for ways to improve how we serve you, our customers. That’s why, as of Oct. 9, 2018, we will improve our payment statements to make them clearer.
When it applies to you, your statement will include overpayment transactions, payment transactions with any additions and/or deductions, and messages with any pertinent information specifically for you. You will find your name and address at the bottom of the payment statement.
We’ve created Frequently Asked Questions (FAQs) to show you how the payment statement will change.
Payment Statement Frequently Asked Questions (FAQs)
At the WCB, we are always looking for ways to improve how we serve you, our customers. That’s why we’ve improved our payment statements by providing more information about payment transactions.
Statements are simpler now. When it applies to you, your statement will include overpayment transactions, payment transactions with any additions and/or deductions, and messages information related to you. You will find your name and address at the bottom of the payment statement.
This section provides any overpayment transactions and an ongoing overpayment balance, if applicable.
This section provides all payment transactions, including any additions and/or deductions such as employer adjustments, overpayments being applied or recovered or special adjustments.
This section provides information related to you. Messages are created for target audiences and different messages will appear depending on your specific situation.
The overpayment summary, payment summary and messages sections will only appear on your payment statement if it is applicable to you.
The WCB is informing you of financial activity done on your behalf. In this case, the WCB is required by the Canada Revenue Agency (CRA) to send you a T5007 tax form at the end of the year for the amount of money that is taxable and was paid to your employer on your behalf. From the CRA’s point of view, you benefit from that taxable income even when it was paid to your employer.
The overpayment recovery affects the payment you are receiving and your overpayment balance with the WCB. It affects the payment by reducing the amount that you are paid. It affects your overpayment balance by reducing the outstanding amount that you owe the WCB for overpayments.
If your statement is showing zero dollar line amounts, there is nothing to worry about. This is not an error. For more explanation, contact your payment contact.
If you sign up for direct deposit with the WCB, your payment statement will be mailed to the same address where the cheque had been sent to before. If you are already on direct deposit with us, your payment statement will still be mailed to you.
The payment statement will show the same information as on the cheque.
If you have any questions, please contact us at 306.787.4370 or by email at email@example.com.