Employee Benefit Plan Audits
Companies with 100 or more eligible participants in an employee benefit plan are required to undergo an audit. Failure to comply with this requirement imposed by ERISA and the Department of Labor can lead to significant penalties and plan disqualification.
HRSS recognizes that auditing retirement plans is complex and industry-specific and requires seasoned experience. Our team is familiar with the changing reporting requirements by the IRS and DOL. We help our clients fully understand reporting requirements, and we recommend procedures that allow for a smooth audit. We also work with third parties so our clients don’t have to.
HRSS performs audits for a variety of benefit plans, including:
- Employee stock ownership
- Defined benefit
- Health and welfare benefit
Contact HRSS today for employee benefit plan auditing, including Form 5500 filings.