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Closing a Business

If you are permanently closing your business, you need to notify the WCB and provide us with the following information:

·         The final date you employed workers; and

·         Your actual payroll for the current year up to the date you stopped employing.

When we receive this information, we will review your account, make any necessary adjustments and send you an updated account statement. This will result in one final payment being required or a refund of premium being made to you. Once your account is settled, it will be closed.

If you have questions, please contact Assessment Services directly at 204-954-4505 or toll free within Canada and the United States: 1-855-954-4321, or email us at assessmentservices@wcb.mb.ca.

 

Buying or Selling a Business

When someone buys a business in Manitoba, there are two very important issues they need to be aware of prior to completing the purchase.

1)    If you are buying a business, be aware that you will most likely inherit the workers compensation claims experience and rate of the existing business. When a business is sold and continues to operate in a similar way, the WCB will transfer the claims experience and the existing rate from the old employer to the new employer to reflect the experience of the ongoing business.

The WCB will determine if the business is operating in a similar way based on a number of factors including (but not limited to) comparison of customer base, product or service offered; business name; workforce; and continuation of business operations between the close under the old ownership and opening under the new ownership.

2)    We also recommend that the buyer obtain a Disposition of Business Enterprise Certificate from the WCB from the seller prior to finalizing the sale. The Disposition of Business Enterprise Certificate is provided by the WCB to the seller to confirm the account with the WCB for the existing business has been fully paid and all requirements have been met. This protects you, the buyer, from having to pay any outstanding amounts owed by the previous owner.

Note: If a lawyer is requesting the Disposition of Business Enterprise Certificate from the WCB, we can only provide it if we have written authorization from the current owner(s) of the business.

If you are selling your business, you can obtain the Disposition of Business Enterprise Certificate, by notifying Assessment Services. At that time, you need to provide the following information:

o   The final date you employed workers; and

o   actual payroll for the current year up to the date you stopped employing; and

o   name and address of the buyer.

Once the above information is received, we will review your account, make any necessary adjustments and send you an updated account statement. This will result in one final payment being required or a refund of premium being made to you. Once the account is settled, we will provide you with a Disposition of Business Enterprise Certificate which can then be made available to the buyer of the business.

 

For more detailed information about whether the claims experience and rate of an old business will be applied to a new business when there is a change in ownership, refer to Policy 31.05.20 Transfer of Employer Cost Experience on Change of Ownership- http://www.wcb.mb.ca/transfer-of-employer-cost-experience-on-change-of-ownership.

If you would like more information about the implications of buying a specific business, we encourage you to contact us directly to discuss the details. Contact Assessment Services at 204-954-4505 or toll free within Canada and the United States: 1-855-954-4321, or email us at assessmentservices@wcb.mb.ca.

If you are new to business ownership in Manitoba, the WCB website can be a valuable resource of information. You will find publications including brochures, fact sheets, newsletters and guides to help you understand your rights and responsibilities within the compensation system. In addition, there are several online services from which you can benefit.

 

Additional Resources

Policy 31.05.20 Transfer of Employer Cost Experience on Change of Ownership

WCB Resources covering a wide range of information for workers and employers

WCB Online Services for Employers 

Contact Assessment Services directly at 204-954-4505 or toll free within Canada and the United States: 1-855-954-4321, or email us at assessmentservices@wcb.mb.ca.

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