The 5500-EZ Delinquent Filer Program
In the retirement plan industry, 2 + 2 can be 4, or many other amounts depending on the actuarial assumptions used. Similarly, one-participant plans can actually cover hundreds of participants.
Correction Program Options for Retirement Plan Errors
Posted by Maria T. Hurd, CPA In a highly regulated industry with complicated rules that always have exceptions (except when the exception does not apply) it is inevitable that sooner or later a failure to follow the plan document will take place. Such operational errors can be corrected through the IRS Employee Plan Compliance Resolution System (EPCRS) in one of … Continued
Know Your Limits
Our lives are filled with limits; speed limits, credit limits, time limits, and a number of different retirement plan limits.
Mid-Year Amendments to Safe Harbor Plans
It is not often that we can give our clients good news as a result of new guidance from the Internal Revenue Service, but thanks to Notice 2016-16, Mid-Year Changes to Safe Harbor Plans and Safe Harbor Notices, we have fantastic news.
Participant’s Elective Deferral Election Not Followed
One of the most common operational errors when administering retirement plans is the failure to implement a participant’s elective deferral election or change in percentage.
Accounting Standard Update 2015-12 – Simplifying Retirement Plan Financial Statement Disclosures
Users of accounting information make informed decisions using information contained in the financial statements.
Financial Statement Audits of Retirement Plans
Prospective clients often want to see a sample information request letter to get a better idea of how an audit will progress. In response to that frequently asked question, we created a white paper to assist clients in preparing for their retirement plan audits.
Preparing For An Employee Benefit Plan Audit
When it comes to an employee benefit plan audit, having the right information ready in a timely fashion is imperative for a smooth and efficient audit. Since the retirement plan audit season is now going strong I am providing a link to the AICPA’s EBPAQC 403(b) Retirement Plan Audits Sample Auditor Request List for Plan Information.
Highly Compensated Employee Identification
In retirement plan administration, it is sometimes necessary to use prior year data to make certain determinations.
Department of Labor Emphasizes the Importance of Selecting a Quality Auditor
The Department of Labor just sent a letter to plan administrators emphasizing the importance of selecting a quality auditor.