Federal law requires employee benefit plans with 100 or more participants to have an audit as part of their Form 5500 filing. If the Plan has under 100 participants at the beginning of the Plan year, it will file Schedule I Small Plan with its 5500 and forego the required audit. If the Plan is a new Plan, then you must determine the number of participants as of the first day participants were eligible to participate in the Plan.
When Adeptus conducts your Plan audit, we are working for you. We organize, plan and conduct the audit, keeping your staff focused on their job and not distracting them while the audit process is ongoing. If you have ever had an audit team take over your offices and then utilize your staff to assist them in the audit, you can appreciate the Adeptus difference.
We are working hard on bringing you informative and useful information regarding 401K Audits. We appreciate your patience. Check back frequently for updates.