As discussed in one of our previous blog posts How to stop a non-elective contribution, circumstances and factors often arise that have us wishing that a commitment that we had entered into had an escape clause.
WEBINAR TODAY March 31, 2014: Join Legg Mason for a webinar with Maria T. Hurd, CPA, Director of Retirement Plan Audit Services at Belfint, Lyons & Shuman. Maria will offer insights to help plan sponsors and advisors prepare for a plan audit.
In April 2013, the FASB issued Accounting Standards Update (ASU) 2013-06, Not-for-Profit Entities: (Topic 958): Services Received from Personnel of an Affiliate. ASU 2013-06, effective for fiscal years beginning after June 15, 2014, clarifies how nonprofit entities recognize and measure services received from personnel of an affiliate to ensure consistency amongst financial statement presentations.
Many nonprofits who sponsor ERISA 403(b) plans are not aware that they need an audit, because counting participants involves much more than knowing how many full-time employees the organization has or how many account balances are in the plan.
Accounting | Audit | Advisors | Consultants | CPAs - Belfint Lyons Shuman is a Certified Public Accounting Firm serving companies across Delaware including Wilmington, Dover (DE) and Pennsylvania including Philadelphia and West Chester (PA). BLS focuses on serving the needs of construction companies, employee benefit plan audits, law firms, medical practices and nonprofit organizations. We also assist international companies with international tax, FBAR compliance and regulatory services.