Employee Benefit Plans
Efficient Virtual Audits To Maintain Compliance
Efficient And Quality Audits To Maintain Your Plan’s Compliance
Employee benefit plans are a great way to encourage and incentivize employees to save for their futures, but maintaining compliance with the rules takes considerable time and effort. We understand that going through an employee benefit plan audit sounds painful and intensive. We have a dedicated team of auditors with decades of experience who are ready to help take the stress out of the employee benefit plan audit process. Our process is designed to clearly communicate the information required, and we’re available to help along the way. Our team keeps up on the latest rules and regulations pertaining to your plan, and we’ll make suggestions if anything comes up.
Do I Need A Benefit Plan Audit?
The Department of Labor requires audits for “large plans” which also must file the long version of Form 5500. If your plan has never been audited, it will require an audit once the plan reaches 121 or more participants at the beginning of the plan year. We can help confirm whether your plan needs an audit and discuss your options. Plan audits start at $8,500 per year but can vary depending on size and complexity.
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Know What To Expect With Your Employee Benefit Plan Audit
Our employee benefit plan process focuses on preparing for success using virtual meetings and well-designed templates to provide the information needed to complete the audit. We take a proactive approach that relies on technology and a personal touch to complete our audits. Below we’ve laid out a typical timeline for a benefit plan audit.
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