401(k) Audit Services: Expertise for Compliance and Peace of Mind
Managing a 401(k) plan comes with significant responsibilities, including ensuring compliance with strict government regulations. At Ernst Wintter & Associates LLP, we specialize in 401(k) audit services, offering tailored support for small to mid-sized businesses. Our experienced auditors make the process smooth, efficient, and minimally disruptive, allowing you to focus on your business while we handle the complexities of your audit.
Why 401(k) Audits Are Essential
401(k) benefit plans are subject to oversight by the U.S. Department of Labor (DOL) and the Internal Revenue Service (IRS) to protect participants and ensure proper management of funds. Non-compliance can result in costly penalties and risks to your business.
If your plan meets certain thresholds, you may be required to conduct an independent audit. Working with a trusted CPA firm is critical to navigating these requirements with confidence.
Do You Need a 401(k) Audit?
Youโll need a 401(k) audit if:
- Your plan has 100 or more participants with account balances at the beginning of the year.
- You must file Form 5500-SF or Schedule H of Form 5500 for the plan year.
Certain exceptions may apply:
- Plans with 80-120 participants may not require an audit if Form 5500 was filed the previous year under specific conditions.
- Plans operating for seven months or less can defer their audit to the following year.
If youโre unsure whether your plan requires an audit, our specialists can help you determine your obligations and ensure compliance.
How We Support Your 401(k) Audit
The licensed CPA auditors at Ernst Wintter & Associates LLP bring extensive experience in employee benefit plan audits, providing the expertise you need for seamless compliance. Hereโs what you can expect:
Minimal
Disruption
We know your business operations are a top priority. Our team works collaboratively with your internal staff, third-party administrator (TPA), and custodian to ensure an efficient audit process with minimal interruption to your day-to-day activities.
Responsive
Support
Our auditors prioritize clear communication. Weโre available to answer questions, address concerns, and guide you through every stage of the audit.
Comprehensive Compliance Guidance
We provide actionable insights to help you comply with DOL and IRS regulations, ensuring your plan meets all reporting and filing requirements.
Cost-Effective Solutions
Designed for small to mid-sized businesses, our 401(k) audit services are both thorough and budget-conscious, ensuring you receive the support you need without unnecessary expenses.
Why Choose EWA for 401(k) Audits?
With decades of experience auditing 401(k) plans, we bring unmatched expertise and a client-focused approach to every engagement. Our tailored services are designed to help your business stay compliant, avoid penalties, and maintain the trust of plan participants.
Resources to Support Your Financial Journey
At Ernst Wintter & Associates LLP, we offer more than accounting and audit servicesโwe offer resources for businesses and organizations seeking trusted financial guidance. Explore articles, checklists, and FAQs designed to help you understand complex audit requirements and prepare for your next financial review.
Mistakes That Trigger a 401k Audit
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How to Choose an Employee Benefit Plan Auditor
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Full Scope Audit or Limited Scope Audit- Which One and Why?
When planning for an audit of your 401(k) or other retirement plan, you might question if a full scope audit
Empowering Business and Organizations
Choosing the right audit services isnโt just about compliance; itโs about gaining a partner in your financial success. By working with EWA, you gain access to expert insights, comprehensive reporting, and a wealth of resources that keep you informed and prepared.
Whether youโre looking for guidance on nonprofit audits in California or navigating nationwide financial regulations, our goal is to provide the tools and expertise you need to succeed.
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