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 | 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 | 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 | Nov 15, 2023 | 401k Plan Audit, 5500, Regulations & Policies
If your 401(k) plan is close to hitting “large” by DOL rules at the start of your plan year, the 80/120 rule could save you time and money. It happens. You begin a new plan year, and suddenly, you’re now a “large” 401(k) plan by Department of Labor standards....
by cpaadmin | Feb 15, 2023 | 401k Audit Time
We know, nobody loves to do an audit. (If you did, you’d be working here.) 401(k) audits may look time-consuming, but nothing about them is left to chance. The more organized you are, the easier they can be. It’s never too late to take action and make things a little...
