Selecting a 401k Auditor

As noted in April 6, 2010 post, “Do You Still Need a 401K Audit?” there are several factors to consider in determining whether or not your 401K Plan needs an audit.  After the decision has been determined that an audit will be required for your 401K Plan, the next big question for the Plan administrator …

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Do You Still Need a 401k Audit?

It’s 5500 season again and now the big question is upon you: Do you need to have an audit performed and an audit opinion attached to your 5500 before you send it in? Most people know that the general rule is that if you have fewer than 100 participants in the plan, you are considered …

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Guide to a 401(k) Audit

As a plan sponsor you may be required to engage a CPA firm to perform an audit of your 401(k) plan. As a general rule, the audited financial statements are required to be filed with your Form 5500 if you have 120 or more eligible employees. This is the general rule and your specific situation …

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New Auditing Requirements for 403(b) Plans

The 2009 Form 5500 has been revised, and it requires many previously unaudited 403(b) plans to be audited for the first time. Historically, there have been limited filing requirements for 403(b) plans. In fact, most 403(b) plans are often treated more as individual account arrangements than a formal plan. These changes made by the Department …

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