Comprehensive 401(k) Audits for Compliance and Assurance
A 401(k) audit, also known as an Employee Benefit Plan (EBP) audit, is essential for businesses with 100 or more eligible plan participants. These audits go beyond compliance; they are critical for maintaining the integrity of your retirement plan and ensuring the financial security of your employees. At Linked Accounting, we specialize in thorough 401(k) and EBP audits that protect participant assets, enhance financial reporting accuracy, and ensure adherence to IRS and Department of Labor (DOL) regulations.
Why Partner with Linked Accounting for Your 401(k) Audit?
- Regulatory Compliance: We ensure your 401(k) plan adheres to IRS and DOL requirements, minimizing the risk of costly fines and penalties while maintaining your plan’s qualified status.
- Protecting Employee Assets: Our audits provide a detailed review of plan management, ensuring contributions, distributions, and investments are handled correctly, offering peace of mind to both employers and employees.
- Error Detection and Correction: We identify discrepancies or administrative errors in plan operations, allowing you to address and correct issues promptly, avoiding further complications.
- Enhanced Plan Integrity: By conducting a thorough 401(k) audit, we help you maintain a trustworthy retirement plan, fostering confidence among your employees and enhancing their perception of your company.
- Strategic Financial Insights: Beyond compliance, our audits offer valuable insights into your plan’s financial health and performance, enabling you to make informed decisions about plan offerings, fees, and investments.
Strengthen Compliance and Reduce Business Risk
Maintaining compliance with IRS and DOL requirements is crucial for avoiding costly fines and preserving your plan’s qualified status. Our 401(k) audits provide a meticulous review of your plan’s operations, including contributions, distributions, and plan management. By proactively identifying compliance gaps, we help you mitigate risks and safeguard your business against regulatory penalties. This level of scrutiny not only protects your company but also demonstrates a commitment to your employees’ financial future.
Protect Employee Assets and Build Trust
Accurate management of your 401(k) plan is vital for protecting employee assets. Our audits offer a comprehensive examination of plan operations to ensure that participant contributions and distributions are managed correctly. By securing the assets of your employees, you foster trust in your benefits program, reinforcing your company’s reputation as an employer that values and protects its workforce’s financial wellbeing.
Enhance Plan Integrity with Error Detection and Correction
Errors in plan administration can compromise the integrity of your 401(k) plan. Our EBP audits identify discrepancies such as miscalculations in contributions or participant eligibility issues, allowing you to correct them promptly. Addressing these errors not only ensures compliance but also maintains the plan’s integrity, offering your employees a reliable and trustworthy retirement solution.
Gain Strategic Insights to Optimize Your 401(k) Plan
Beyond compliance and error correction, our audits provide strategic insights into your retirement plan’s overall performance. We analyze key financial aspects, including plan fees, investment strategies, and participant behaviors, to offer actionable recommendations. These insights enable you to make informed decisions that optimize plan offerings, enhance participant satisfaction, and align your retirement benefits with your broader business objectives.
Tailored 401(k) Audit Services Aligned with Your Business Goals
Linked Accounting offers a full suite of 401(k) and EBP audit services tailored to the specific needs of your business. Our approach includes a detailed review of participant eligibility, contributions, plan operations, and financial reporting. Our experienced CPAs provide comprehensive audit reports with clear insights, ensuring your plan is accurately represented and effectively managed. By partnering with Linked Accounting, you not only meet regulatory requirements but also strengthen the value and integrity of your retirement plan.
We believe in turning compliance into a strategic advantage. With our expert guidance, you gain a trusted partner committed to enhancing your employee benefit offerings, promoting long-term financial security, and driving business success through a well-managed 401(k) plan.
