Employee Benefit Plan Audit Services
Pension Plan Audits – 401(k) and 403(b)
Our firm is a specialist in the auditing and reporting of employee benefit plans. This is expertise that we have developed over many years, and have refined our operations and procedures into an efficient, streamlined system of best practices and checklists.
What does this mean for you?
Our goal is to make your retirement plan audit experience easier and less costly without sacrificing quality. We know that the on-site portion of an audit is an unwelcome intrusion into your workspace which consumes valuable time, so we do everything we can to minimize this.
We make every effort to obtain most of documents required for the audit and spend significant time prior to visiting your office(s), all with the goal of minimizing your valuable time. Typically our field work takes from one to two days, rather than the week or two you may have experienced in the past.
We also have more interaction with your third party administrator at the front end, greatly reducing your involvement in the tedious and time-consuming portions of the audit.
Because we have done this so many times before, we understand pricing very well, and as such we are able to offer a fixed price structure for our services. This eases you budget planning and approval process – one less headache to deal with. Additionally, you will find that our pricing is as much as 50% less than major national firms.
Bottom line, we know that you want a simple, clean 401(k) audit and we have put the procedures in place to ensure that it happens.
Form 5500 Filing
Form 5500 is key part of the reporting and compliance mechanisms around the Employee Retirement Income Security Act (ERISA). Although an IRS for, it used by the DOL, Congress and various other Federal Agencies to monitor, assess and govern the whole area of pensions and employee benefits.
This form is a significant piece of information for the government, and as such, they enforce the accuracy and submission of the form with significant penalties for non-filing.
Accurate form 5500 preparation requires experience and special knowledge of the ERISA guidelines. This expertise has been developed by our firm over several years in the preparation of hundreds of 5500.
Additionally, we have significant experience with the Department of Labor’s Delinquent Filer Voluntary Compliance (DFVC) This program allows Companies who are out of compliance to avoid the assessment of $1,100 per day penalties for non-filing.
Consultancy for CPAs
In addition to our core business of providing audit services directly to our clients, we also provide consultancy services to CPA firms who need assistance with audit situations with their clients, or general training on related subjects. CPAs looking to leverage our expertise should contact us directly to discuss the services we can provide.