As a Plan Administrator, understanding 401k audit requirements is essential for maintaining compliance and avoiding costly penalties. This guide provides a clear overview of what triggers a 401(k) audit, what documentation and data are reviewed, and and how our team...
401k Plans
Form 5500 Made Simple: What Every Plan Administrator Needs to Know
As your group’s Plan Administrator, you're on the front lines of ensuring compliance. That includes gathering the right data, filing Form 5500 accurately, and meeting critical deadlines. At Watkins Ross, we expertly prepare Form 5500 for our clients. This is an...
Why Accurate Compensation Plan Definitions Are Essential for Your 401(k) Plan
Using the correct definition of your compensation plan in your 401(k) plan is essential. When it’s wrong, it can cause headaches like failed plan tests, incorrect contributions, or even IRS penalties. Here’s what you need to know to avoid these issues. What Happens...
Why Clean Year-End Data Matters for Your 401(k) Plan
Ensure accurate year-end 401(k) data for correct contributions, smooth audits, compliance, and efficient plan management.
How Mergers and Acquisitions Impact 401k Plans: What Plan Sponsors Should Know
When companies engage in mergers and acquisitions (M&A), the focus is often on operational integration, financial restructuring, and human resources. However, one area that deserves particular attention is the impact on 401k plans. As a plan sponsor, understanding...
Tracking Payroll Deposits to a 401(k): A Guide for Plan Sponsors
Learn how to track 401(k) payroll deposits, ensure compliance, maintain employee trust, and avoid penalties with best practices and helpful strategies for plan sponsors.
Catching Up to the New Age-Based Catch-Up Contribution Limits
Explore SECURE 2.0’s new age-based catch-up contribution limits for 401(k), 403(b), and 457(b) plans starting January 1, 2025.
Guidance for Roth Employer Contributions
Explore Roth Employer Contributions under Secure 2.0 Act. Optional provision for plan sponsors. Consider implications for taxation and administration.
An Explanation of 401(k) Plan Forfeitures, How and When They Should be Used
Discover the ins and outs of 401(k) plan forfeitures – when and how to leverage them effectively. Uncover the key insights for smart financial planning.
New Audit Rules for 2023 5500 Forms
Navigate the 401(K) ‘Large Plan’ Status: Understand the 80-120 Rule, Audit Requirements, and Changes for 2023. Ensure Compliance and Save Time