Benefit Plan Audits
“Some of the plans we audit cover 130 people and some up to 10,000 people – the size of the plan doesn’t matter. What matters is that we step through the process efficiently and make it as unobtrusive as possible for our client.”
– Maria T. Hurd, CPA, Director
Why work with BLS for your Employee Benefit Plan Audit?
We stay current. With the constant changes in IRS, ERISA and Department of Labor reporting requirements, you need a firm that understands the complexities of single and multi-employer plan compliance, and one that can provide you with timely information about regulatory changes. If you already have a plan in place or are evaluating new plan options, our team of benefit plan specialists will analyze your company’s financial situation and provide recommendations to meet your objectives.
We understand your financial goals, and we want to help you achieve them. Whether your goal is to maximize shareholders’ allocations for wealth accumulation or provide employee benefit upgrades, we can help. We coordinate and manage the annual audit of your plan and completion of Form 5500 and required supplemental schedules. We work closely with you and your third-party administrator to ensure that participant balances are complete and accurate and the necessary reports are filed.
We help you understand. We help our clients with every step of the audit process and clearly communicate information needed.
We’re experienced. Our team is diligent about timely response for a prompt and accurate completion of the audit and Form 5500 filing. Attorneys call upon us to complete final audits of terminated plans for national companies undergoing bankruptcy proceedings in Delaware. We communicate regularly with the plan’s trustees, actuaries, investment advisors and third-party administrators so that the legal team and plan administrators are informed of any audit findings.
We also perform Taft-Hartley plan audits, and have 30 years of experience in this area. We provide guidance for the trustees, assisting them with the implementation of internal control processes for the plan.
BLS Employee Benefit Plan Services Include
- Comprehensive audit services, including testing participant account balances to verify
their accuracy and completeness
- Operational consulting regarding participant and employer contributions, benefit payments
and loan processing
- Form 5500 preparation and review
- ERISA and DOL reporting requirements
- Plan design option information and recommendations
- Plan correction assistance
We Audit the Following Plan Types
- 401(k) plans
- Profit sharing plans
- 403(b) plans
- 457(b) plans
- Taft-Hartley defined benefit pension plans
- Taft-Hartley welfare benefit plans
- Taft-Hartley annuity plans
The Art of the Qualified Plan Audit
We are tipping the scales from detection to prevention with this blog by providing
a wealth of knowledge regarding best practices in the retirement plan audit area.
Contact Our Employee Benefit Plan Audit Professionals
Looking for assistance with employee benefit plan audits? If so, contact us today. For additional information on our employee benefit plan audit services, please contact Maria Hurd, CPA, at 302.225.0600, or click here to email Maria. In a brief consultation she can assess your situation and determine the best way to proceed.