If you are selling or closing a business, the steps to close your WCB account are similar.
1. Tell Us About Your Change of Business
Whether you are selling or closing your business, you must contact Assessment Services to let us know:
- the final date you employed workers
- your actual payroll for the current year up to the final date of employment.
If you are selling the business, we will also ask you for:
- the name and address of the buyer.
2. Settle Your Account
We will review your account, make any adjustments needed and send you a final account statement. Your final account statement will indicate whether you have a final payment to make or will receive a refund of part of your premium.
Once the final payment is received or refund is issued, your account is settled and will be closed.
3. If Selling – Obtain a Disposition of Business Enterprise Certificate
If you are selling your business, we will provide you with a Disposition of Business Enterprise Certificate after your account is settled. You can provide the Certificate to the seller to provide assurance that you have no outstanding debts with the WCB. We can also provide the Certificate to a lawyer requesting it, as long you have authorized us to do so.
If you have questions about selling or closing a business, we encourage you to contact Assessment Services.