401(k) Audits – Illinois

 

ERISA Audits – Illinois (IL)

 

Belfint Lyons & Shuman serves employers in Illinois with their 401(k) plan audit needs. The reporting and other requirements imposed by the Internal Revenue Service (IRS) and the Employee Retirement Income Security Act (ERISA) are complex and regularly changing. Careful consideration needs to be exercised to ensure plan operations are following plan provisions, legislative requirements, and participant elections. In other words, a retirement plan audit is a specialty audit that requires more than foundational knowledge of basic accounting and auditing principles.

Illinois ERISA Audit Experience

We have significant experience serving the various types of retirement plans offered by Illinois employers. This includes defined contribution, defined benefit, health and welfare, and more. In fact, the DOL places so much importance on finding the right plan auditor they produced, Selecting An Auditor for Your Employee Benefit Plan. As you will see when reviewing it, our firm meets the criteria for an experienced auditor who can guide your team through the process.

Illinois 401(k) Audit Services:

  • 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 options information and recommendations
  • Plan correction assistance

Map of Illinois (IL)

Contact Our Illinois 401(k) Audit Team

Belfint, Lyons & Shuman provides benefit plan audit services to companies in Illinois remotely from our Delaware headquarters. Please complete the form below and a member of our team will follow up with you.

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About Illinois

The business community in Illinois is a dynamic and multifaceted ecosystem that plays a pivotal role in the state’s economic landscape. With a rich history steeped in entrepreneurship and innovation, Illinois has cultivated a diverse range of industries that contribute significantly to its economic prosperity.

Historically, Illinois has been a beacon for commerce and trade, primarily due to its strategic location, with Chicago as its economic nucleus. The Windy City’s prominence as a transportation and trading hub dates back to the 19th century, setting the stage for the state’s economic development. Institutions like the Chicago Stock Exchange, founded in 1882, and the Chicago Board of Trade, established in 1848, played central roles in shaping the financial sector not only within Illinois but also on a national scale.

The diversity of industries in Illinois is a defining characteristic of its business community. Manufacturing has long been a dominant force, with iconic companies such as Caterpillar, John Deere, and Boeing calling Illinois home. The state’s fertile lands have also made agriculture a cornerstone of its economy, with the production of soybeans, corn, and livestock contributing significantly to both the state and the nation’s food supply.

We also provide 401k audit services to companies in California (CA), Pennsylvania (PA), Illinois (IL), Florida (FL), New Jersey (NJ), Maryland (MD), Arizona (AZ), South Dakota (SD), North Dakota (ND), Alabama (AL), Minnesota (MN), Connecticut (CT), Rhode Island (RI), Kentucky (KY), Missouri (MO), Nebraska (NE), Oklahoma (OK), Oregon (OR), Idaho (ID), Arkansas (AR), New Mexico (NM), Utah (UT),  Texas (TX), Colorado (CO), Iowa (IA), Indiana (IN), Georgia (GA), South Carolina (SC), North Carolina (NC), Ohio (OH), Tennessee (TN), and Virginia (VA).

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Need Additional Information?

If you need more information, please contact us so we can connect you with one of our CPA advisors who will be committed to your business and personal success. BLS is here to help!

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