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FAQs
This is a limited time program by the National Insurance Board (NIB) to help employers and self-employed persons settle their outstanding NIB Contribution arrears by waiving a portion of the interest owed. It supports business recoveryand encourages long-term compliance with NIB regulations.
Employers and self-employed persons must submit all applications by March 31, 2026 at 5:00 p.m.
- Significant interest relief (up to 75% in some cases)
- Improved compliance standing with NIB
- Support for business continuity, especially for companies impacted by hurricanes
- Avoidance of legal action related to arrears
- Protects workers’ Contributions and Benefits
Employers and self-employed persons may qualify if they meet all of the following conditions:
- Are registered with the National Insurance Board
-
Commit to settling all principal arrears by either:
- Full payment, or
- ANIB-approved instalment agreement
| Business Location | Maximum Interest Waived |
|---|---|
| Grand Bahama & Abaco | Up to 75% |
| New Providence & other islands | Up to 50% |
If your business defaults after receiving the waiver:
- The waiver will be immediately cancelled, and
- All interest previously waived will be reinstated.
Employers wishing to participate must:
- Request a comprehensive arrears statement from their designated inspector;
-
Submit a formal letter requesting the waiver in-person or by email to
compliance@nib-bahamas.com
addressed:
Dr. Tami Francis
Office of the Director
The National Insurance Board
Clifford Darling Complex
Nassau, The Bahamas - Sign an acknowledgment form committing to full and timely compliance going forward.
Applications from employers and self-employed persons currently under legal prosecution or enforcement may be reviewed on a case-by-case basis and require final approval from the Board.
This campaign is part of broader efforts to:
- Help businesses become and remain compliant with NIB laws
- Strengthen the long-term health of the National Insurance Fund
- Support economic recovery in hurricane-impacted islands
- Improve the Bahamas’ Ease of Doing Business Index
Contact the National Insurance Board at 502.1500, CALL.NIB (225.5642), 396.1918, 502.1617 or visit www.nib-bahamas.com/interestwaivercampaign.
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