401(k) plans are governed by ever-changing rules and regulations issued by the IRS, DOL, ERISA, and the Social Security Administration. These audits are complex. We will "guide you through" rather than "stumble through" the process.
We offer the following:
Help you determine if you are required to have a 401(k) Audit
Experience with the rules and regulations of 401(k) plans.
Experience in working with your third party administrator.
The same audit team from year to year.
Quick turnaround to enable you to timely file form 5500.
Probably your number one question is "How much does a 401k audit cost?"
By drawing on our focused expertise, we are able to perform a detailed, efficient audit at a very competitive price. As we are focused on building long standing relationships, we commit to giving you a fixed quote without future "surprise" billings.
Fees for a limited scope 401(k) audit will vary based on the facts specific to your plan. Many calendar year-end audits will range from $6,500 - $7,500 (Off calendar year-end audits are typically 15% less). Factors that may influence the fee of your 401k audit would include:
Size of the Plan
Timing of your engagement
Whether there are any hard to value investments held in the trust (i.e, employer stock, derivatives, etc.)
Current year changes such as mergers with other plans and changes in the plan's custodian / recordkeeper
To provide an accurate quote of your 401k plan, we request that you provide us with your Summary Plan Description (SPD). Using this information, we can search publicly available information such as prior year tax returns and audit reports (when applicable) to determine an actual quote for your audit. Also, we typically work from our offices to save you time and money.
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