Mandatory WCB Coverage for Directors of a Corporation
December 31, 2015
This is a new policy that provides mandatory coverage for all directors carried on payroll.
Under the new policy, a director who is reporting employment income on a Canada Revenue Agency T4 income tax slip is considered a worker and is required to have WCB coverage.
This change is effective January 1, 2015. Any changes to coverage for directors can be made on the annual Employer’s Payroll Statement (EPS). All EPS Forms are due February 28!
Please refer to Saskatchewan Workers’ Compensation Board for the original bulletin. (http://www.wcbsask.com/mandatory-coverage-for-directors-of-a-corporation/)