Ohio Admin. Code 4123-20-04 - [Effective 7/1/2025] Notice of estimated premium, payroll reporting and reconciliation of premium due

(A) The bureau will provide employers a notice of estimated annual premium no later than the first day of May preceding the policy year for which such premium is due.

The notice includes:

(1) The estimated payroll used by the marine industry fund to calculate the employer's estimated premium due:

(2) The classification code(s) used by the marine industry fund in which the employer's payroll is allocated and the base rate for each of the classification codes identified:

(3) The employer's estimated premium due for the applicable policy year.

The employer may revise the estimated payroll amount used to calculate estimated premium due for the policy year for good cause shown, as determined by bureau policy. Requests will not be accepted to revise payroll after the last business day in November of that policy year.

(B) Payroll report and reconciliation of premium due.

(1) At the conclusion of each policy year, every employer will submit a payroll report to the bureau containing the number of employees employed within each of the employer's assigned classification codes and the aggregate amount of wages paid to such employees over the relevant time period.

(2) The bureau will establish a reconciliation process to address the difference between the estimated gross payroll and actual gross payroll.

(3) The payroll report must be filed by and any balance due the marine industry fund paid by the thirty-first day of August following the conclusion of the policy year. Any balance due the employer will be credited to the employer's account.

(4) If the employer fails to submit the final payroll report, the bureau will not lapse the employer's coverage. The bureau will increase by ten percent the estimated premium and bill the employer. The bureau will certify the premium balance to the attorney general seventy-five days after the due date if not paid. The bureau may cancel coverage for the subsequent renewal period for failure to submit the final payroll report.

(C) No provision of this rule may be construed to limit in any way the right of the bureau to audit the payroll records of the insured or to make adjustments based on the findings of such audits.

Replaces: 4123-20-04

Notes

Ohio Admin. Code 4123-20-04

Effective: 7/1/2025
Five Year Review (FYR) Dates: 08/01/2027
Promulgated Under: 119.03
Statutory Authority: 4121.12, 4121.121
Rule Amplifies: 4131.13, 4131.14
Prior Effective Dates: 03/23/1981, 12/18/1989 (Emer.), 02/22/1990, 07/05/2012