by cpaadmin | Aug 15, 2024 | 401k Compliance, 401k Plan Mistakes, Regulations & Policies, Uncategorized
We’ve heard it all, over the 10+ years Cassell Plan Audits has been operating. Excuses like, “It wasn’t that late” and “We didn’t know” when our clients didn’t deposit 401(k) plan contributions and loan payments on time. Unfortunately, getting 401(k) plan...
by cpaadmin | Jul 15, 2024 | 401k Plan Audit, 401k Plan Mistakes, Audit Deadlines, Audit Procedures
As a plan sponsor, you’ve got a lot on your plate, and it’s easy to back-burner certain tasks—like your annual 401(k) audit. If you’re wondering (hypothetically or not), “What happens if I miss a 401k plan audit deadline?” … Here’s your...
by cpaadmin | Jun 15, 2024 | 401k Compliance, 401k Plan Audit, Audit Procedures, Preparing for a 401(k) audit, Regulations & Policies
Here’s how to determine the number of qualifying participants for your 401(k) audit. The total number of participants with balances in your retirement plan drives how the IRS Code and the Department of Labor see your plan. For audit purposes, this definition...
by cpaadmin | May 15, 2024 | 401k Audit Time, 401k Plan Audit, 401k Plan Mistakes, Audit Deadlines, Audit Procedures, Preparing for a 401(k) audit
As a plan sponsor of a 401(k) plan that requires an annual audit, you’ve probably wondered in frustration, “Why does it take so long?” Here’s how to streamline your 401(k) plan audit. Spoiler alert: audits can be time-consuming… but they don’t have to be! Here are...
by cpaadmin | Apr 15, 2024 | 401k Audit Firm, 401k Audit Oversight, Auditor, How to choose an auditor, Preparing for a 401(k) audit
Hiring a 401(k) plan auditing firm is an important decision. Here’s how to ensure that you choose the right auditor for your next benefit plan audit. Did you know that auditors get audited too? I know… Why should I care? Because: The Department of Labor’s findings can...