by cpaadmin | Oct 15, 2024 | 401k Auto-Enrollment, 401k Communication, 401k Compliance, Employee Addition, Regulations & Policies, Safe Harbor 401(k)
Autumn is well underway, and with it comes those seasonal tasks: Hire the neighborhood kid to rake fallen leaves… Check. Stock up on candy for Halloween trick-or-treaters… Check. Put together this year’s annual 401(k) plan notices… Check?! Consider this a gentle...
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 | Mar 15, 2024 | 401k Plan Audit, 401k Plan Audit Documentation, Audit Deadlines, Audit Procedures, Preparing for a 401(k) audit
For employers or plan sponsors with 401(k) plans with 100 or more participants with balances, here’s how to prepare for your first 401(k) plan audit. Step One: Determine whether your 401(k) plan requires an independent audit. Firstly, who makes this determination? ...
by cpaadmin | Feb 15, 2024 | 401k Plan Audit Documentation, Plan Sponsors, Preparing for a 401(k) audit, Regulations & Policies
As a seasoned plan sponsor, this is not your first audit. Here is a quick-and-easy checklist for your next 401(k) plan audit so you catch what may have changed—on your side or the regulatory side — to ensure that your next audit is as painless and efficient as...
by cpaadmin | Dec 15, 2023 | 401k Compliance, Employee Addition, Plan Sponsors, Record Retention, Regulations & Policies, SECURE Act
It’s official! The IRS (finally!) released guidance on the new treatment of LTPT employees (long-term part-time) vis-a-vis your 401(k) plan. And not a moment too soon! Changes are effective 1-1-24. Here’s what you need to know to treat LTPT employees properly in the...
