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...
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...
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...
Ensure accurate year-end 401(k) data for correct contributions, smooth audits, compliance, and efficient plan management.
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...
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.
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.
Explore Roth Employer Contributions under Secure 2.0 Act. Optional provision for plan sponsors. Consider implications for taxation and administration.
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.
Navigate the 401(K) ‘Large Plan’ Status: Understand the 80-120 Rule, Audit Requirements, and Changes for 2023. Ensure Compliance and Save Time