Rochester 401k Audit
401k plans have become one of Minnesota employers’ most common retirement plan options. Generally, a company-sponsored retirement plan with 100 or more participants on the first day of the plan year must perform an external 401k audit.
A 401k audit will look at two major areas:
Compliance
To verify that the 401k plan is operating in compliance with specific IRS and Department of Labor regulations and plan-related documents.
Financial Reporting
To determine the accuracy of the financial information as reported on Form 5500 and plan financial statements, including required disclosures.
Our Client Service – A Proven Approach
Our auditors have extensive experience with 401k audits and have provided audits of hundreds of plans over the years. Smith Schafer has an approach to delivering value. Our Rochester clients confirm that our service approach sets us apart from other local CPA firms. We are committed to:
Enhancing our understanding of your specific business and operations.
Work directly with your third-party provider to limit your time with the 401k audit process.
Keep you abreast of the ever-changing audit requirements through regular communications and webinars.
Timely delivery of services.
Being available to you throughout the year. We encourage you to reach out whenever you have questions, and additional fees WILL NOT be charged unless significant research is involved.
CLICK BELOW TO CONTACT OUR 401K SERVICES GROUP FOR ADDITIONAL INFORMATION.
Audit Resources
401(k) Plan Tips from a CPA Firm
A 401(k) plan is one of the best options available to help employees save for retirement. However, these plans will only be successful if managed properly. Here are tips for effective and efficient management of your company’s 401(k) plan.
Tips to Prevent Employee Theft
Not all crooks roam the streets at night. Some
Q & A: Helping Transportation Companies Navigate an Employee Retirement Plan Audit
Does your transportation company’s retirement plan require an audit?
