401(k) & employee benefit plan audits
Protect your plan and the people in it.
Plans with 100 or more eligible participants generally need an annual audit. We go beyond compliance to protect participant assets, improve reporting, and keep your plan's qualified status secure.
- IRS and DOL regulatory compliance
- Contributions, distributions, and eligibility verified
- GAAP financial statement audit
- Internal controls strengthened
- Errors found and corrected early
- A clear, actionable audit report
Why it matters
Compliance, turned into an advantage.
A thorough audit keeps you clear of fines and penalties and shows your employees that you take their retirement seriously.
We review participant eligibility, contributions, plan operations, and financial reporting, then give you clear insights on fees, investments, and plan design so the plan works better for everyone.
Reduce business risk
A careful review of contributions, distributions, and plan management finds compliance gaps before regulators do.
Protect employee assets
Confirm that participant contributions and distributions are handled correctly and build trust in your benefits.
Detect and correct errors
We find miscalculated contributions and eligibility issues so you can fix them promptly.
Strategic insights
Analysis of fees, investment options, and participant behavior, with recommendations that align the plan with your goals.
Frequently asked questions
Questions we hear often.
What is a 401(k) audit and why is it necessary?
A 401(k) audit is an independent examination of your retirement plan to ensure compliance with IRS and DOL regulations. It's necessary for plans with 100+ participants to avoid penalties and maintain plan integrity.
Who needs a 401(k) audit?
Businesses with 100 or more eligible plan participants typically require an annual 401(k) audit to comply with federal regulations.a
How does a 401(k) audit protect my business?
It identifies compliance issues, corrects errors, and ensures the plan is managed properly, helping you avoid penalties and safeguard participant assets.
What does the 401(k) audit process involve?
It involves reviewing plan operations, participant eligibility, contributions, distributions, and financial reporting to ensure accuracy and compliance.
How long does a 401(k) audit take?
The duration varies depending on the plan's complexity, but most audits can be completed within a few weeks to a couple of months.
Can errors in my 401(k) plan be corrected during the audit?
Yes, our audit process identifies and helps correct errors promptly, minimizing potential regulatory issues.
How do 401(k) audits benefit employees?
Audits ensure the plan is managed correctly, protecting employee contributions and building trust in the retirement plan’s integrity.
What documents are needed for a 401(k) audit?
Typically, plan documents, financial statements, payroll records, and bank statements are required for a comprehensive audit.
How much does a 401(k) audit cost?
The cost varies based on plan complexity and size. Contact us for a tailored quote based on your plan's specifics.
Why choose a CPA firm for a 401(k) audit?
CPA firms have the expertise to conduct thorough audits, ensuring compliance, accuracy, and strategic insights for your retirement plan.
Additional resources
Keep reading.
Hawaii 401k and EBP audit requirements
Hawaii businesses offering 401(k) and employee benefit plans must meet stringent IRS, ERISA, and Department of Labor (DOL) regulations. Our CPA team...
Read moreInsightUtah 401k and EBP audit requirements
Ensuring compliance with IRS, ERISA, and Department of Labor (DOL) regulations is critical for businesses managing employee benefit plans. Our...
Read moreInsightCalifornia 401k and EBP audit requirements
Linked Accounting provides specialized 401(k) and Employee Benefit Plan (EBP) audit services tailored for California businesses. With deep expertise...
Read moreInsight401k and EBP Audit Preparations
Preparing for a 401(k) or Employee Benefit Plan (EBP) audit requires careful attention to detail and proactive organization. Whether your audit is...
Read moreInsightForm 5500 for 401(k) and Employee Benefit Plans
Filing Form 5500 is a critical part of maintaining compliance with both IRS and Department of Labor (DOL) regulations for 401(k) and employee benefit...
Read moreInsightInternal Controls and Best Practices for 401(k) and Employee Benefit Plans
Internal controls are the foundation of a well-managed 401(k) or employee benefit plan (EBP). Strong internal controls ensure that plan assets are...
Read moreWho you will work with
The people behind the work.
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