Navigate the 401(K) ‘Large Plan’ Status: Understand the 80-120 Rule, Audit Requirements, and Changes for 2023. Ensure Compliance and Save Time
New Audit Rules for 2023 5500 Forms
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Form 5500
BINGO to Avoid an Audit Trigger on Your ESOP Form 5500
2I – 2O – 2P – 2Q – 3I, Bingo! Entering incorrect information on the return or report, or leaving a field blank when there should be an entry increases the likelihood that you’ll be selected for an Employee Plans Compliance Unit compliance check. Plan characteristic...
Will Your ESOP Require a Plan Audit For Form 5500?
Will your ESOP require a plan audit for Form 5500 this year? If so, there is much to do in the next few months! A plan audit is required if the number of ESOP Participants reported on the Form 5500 is 100 or greater, as of the beginning of the Plan Year. There...