Figures checked 1 October 2026.
On its Key employer obligations and penalties page, updated 29 July 2026, SIRA says workers compensation insurance policies must be kept for 7 years under section 161(4) of the Workers Compensation Act 1987. The same SIRA page requires a certificate of currency to be produced within 5 days of a request under section 163A(2) and lists a $1,100 penalty for failing to meet that requirement.
What are the two record obligations?
SIRA’s table separates the ongoing storage requirement from the deadline for producing a certificate. Both section references are to the Workers Compensation Act 1987.
| Obligation | Required action | Section | Employer Improvement Notice field | Listed penalty field | Maximum court penalty |
|---|---|---|---|---|---|
| Workers compensation policy | Keep the policy for 7 years | 161(4) | NA | No | 50 penalty units |
| Certificate of currency | Produce it within 5 days of request | 163A(2) | NA | $1,100 | 50 penalty units |
These are separate enforcement entries. The policy row displays “No” in the penalty-notice field but still lists 50 penalty units as the maximum court penalty. The certificate row lists both the $1,100 penalty-notice amount and the same maximum court penalty.
Does the 5-day rule apply to the policy itself?
No. The 5-day deadline specifically applies to producing a certificate of currency.
SIRA separately lists an obligation to comply with a notice requiring an employer to produce its insurance policy under section 161(1)–(3). That is a different obligation from retaining the policy for 7 years and should not be confused with the certificate-of-currency deadline.
How can an employer keep track of both requirements?
The following are practical controls rather than additional legal duties stated by SIRA:
- Store policies in a controlled records system that helps prevent their disposal while the 7-year obligation may apply.
- Record the date any certificate-of-currency request is received and assign responsibility for responding within 5 days.
- Retain evidence of the certificate supplied, when it was supplied and how it was provided.
- Review the current SIRA guidance and the policy’s Product Disclosure Statement, or PDS, before finalising a records schedule.
The SIRA row specifies that policies must be kept for 7 years, but it does not explain on that row when the retention period begins. Check section 161(4), the current regulator guidance and the policy documents before setting a destruction date.
What does the listed $1,100 penalty mean?
SIRA lists $1,100 in the penalty field for failing to produce a certificate of currency within 5 days of request. This is separate from the table’s 50 penalty units maximum court penalty; the two entries should not be read as a combined amount.
SIRA explains that regulatory action for non-compliance may include improvement notices, penalty notices or court penalties. For the specific certificate-of-currency row, however, SIRA marks the Employer Improvement Notice field as NA. A recipient of a penalty notice may pay the amount stated or ask for the matter to be decided by a court.
What should be checked before relying on these rules?
SIRA says its tables reflect legislative changes under the 2025 and 2026 reforms and warns that website content may change as reforms are implemented. It directs readers to its Information Hub for the most current information.
This is general information, not financial or legal advice. Check the current SIRA page and Information Hub, then read the policy’s PDS before deciding when to dispose of records or how to respond to a request.
Sources
FAQ
How long must NSW employers keep workers compensation policies?
SIRA’s table requires employers to keep workers compensation insurance policies for 7 years under section 161(4) of the Workers Compensation Act 1987. The table lists no penalty-notice amount for this row but gives a maximum court penalty of 50 penalty units.
How quickly must a certificate of currency be produced?
A certificate of currency must be produced within 5 days of a request under section 163A(2). SIRA lists a $1,100 penalty for the certificate obligation and a maximum court penalty of 50 penalty units.
Is the 5-day certificate deadline the same as the 7-year policy rule?
No. The 5-day rule concerns producing a certificate of currency after a request. The 7-year rule concerns retaining the insurance policy and is set out under section 161(4).
What should an employer do if a record request arrives?
Record when the request was received, identify who will handle it and arrange production of the requested certificate within 5 days. Before responding, check the current SIRA guidance and the policy’s PDS, especially if the request or document appears unusual.
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