49 min
Keeping up with 401(k) Compliance Requirements The 401(k) Audit CPA Success Show
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- Entrepreneurship
As the year-end and the final Form 5500 deadline approaches, 401(k) plan administrators and sponsors should take this time to review their plan documents to ensure their continued compliance with ERISA, Department of Labor and IRS compliance requirements. Neglecting to secure a Fidelity Bond, failing discrimination testing, making errors on your Form 5500 and other compliance mistakes can lead to hefty fines you could be deemed personally liable for if they negatively impact participants in the plan. Reviewing these common 401(k) plan missteps can help you identify compliance issues within your own plan before they negatively impact plan participants.
As the year-end and the final Form 5500 deadline approaches, 401(k) plan administrators and sponsors should take this time to review their plan documents to ensure their continued compliance with ERISA, Department of Labor and IRS compliance requirements. Neglecting to secure a Fidelity Bond, failing discrimination testing, making errors on your Form 5500 and other compliance mistakes can lead to hefty fines you could be deemed personally liable for if they negatively impact participants in the plan. Reviewing these common 401(k) plan missteps can help you identify compliance issues within your own plan before they negatively impact plan participants.
49 min