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Whats the difference between the money I sent as a deposit and the money I send in with my payroll report?

April 26, 2017deposit difference money payroll report send sent

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Whats the difference between the money I sent as a deposit and the money I send in with my payroll report?

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3A. BWC holds the deposit on account for as long as the employer has coverage. When the employer notifies BWC to cancel the policy, the deposit is returned to the employer less any monies due BWC at the time of cancellation. The premium payment sent in with the payroll report provides coverage for the time period specified on the certificate of premium payment and is used by BWC to pay benefits.