KRS 342.122(2)(a) requires quarterly payments of the assessments imposed. These assessments shall be paid not later than the thirtieth day of the month following the end of the quarter in which the premium is received.
KRS 342.122(2)(b) Beginning on January 1, 2020, all assessments shall be electronically remitted to the funding commission quarterly not later than the thirtieth day of the month following the end of the quarter in which the premium is received. Receipt shall be considered timely when filed and remitted using the appropriate electronic pay system as prescribed by the Funding Commission. Employers carrying their own risk and employers defined in KRS 342.630(2) shally pay the annual assessments in four (4) equal quarterly installments.
Quarterly reporting due dates are:
- January 30 (for the quarter ended December 31),
- April 30 (for the quarter ended March 31),
- July 30 (for the quarter ended June 30), and
- October 30 (for the quarter ended September 30).
Interest Rates on Late Payments
Pursuant to KRS 131.183 et seq., the Commissioner of the Department of Revenue has set the rate for tax payments. KRS 342.1221 applies this same rate to delinquent workers' compensation insurance premium assessments imposed pursuant to KRS 342.122.
Coal Company Reporting
Additional assessments are no longer imposed on coal operators and companies. On November 16, 2022, the KWCFC Board of Directors met at the regularly scheduled meeting and adopted the motion to acknowledge the Coal Workers' Pneumoconiosis Fund shall cease to exist based upon all related requirements of KRS 342.1242 and 1243 having been met by the Funding Commission and KEMI. The coal reporting feature has been removed from the E-File/E-Pay system.