Are you purchasing a business in Ohio?

When you purchase a business in Ohio, in whole or in part, you are considered the succeeding employer and you will assume the former employer’s business’ claims experience for rate making purposes. For successions taking place on or after Sept. 1, 2006, where you acquired the entire operation, BWC transfers any and all existing and future liabilities or credits as well as the experience.

How does this process begin?
Complete and submit Notification of Business Acquisition/Merger or Purchase/Sale (U-118). If the succeeding employer does not have Ohio workers’ compensation coverage, the company must complete an Application for Ohio Workers’ Compensation Coverage (U-3) in addition to the U-118)
Click here to learn more about acquistion/merger or purchase/sale of a business.