Does your organization have more than 100 eligible participants in your employee benefit plan? If so, you may be required by ERISA to conduct an employee benefit plan audit. If a company fails to have an audit performed, it will be faced with penalties from the DOL and the IRS, which can get very costly. If you fail to file at all, the penalties can be up to $30,000 per year for each plan. And, a deficient filing can result in penalties of up to $50,000 per year for each plan.
Machen McChesney can help you meet your regulatory requirements while minimizing your time, effort and expense. In addition, we can offer suggestions to help improve the internal controls of a plan and can identify areas that should be considered for compliance with the laws and regulations under ERISA.
We are committed to providing our clients with a quality product; therefore, we are members of the AICPA Employee Benefit Plan Audit Quality Center. We utilize our membership to provide our staff with best practices and training, as well as to keep our clients apprised of the trends and issues affecting the benefit plan audit industry.
Looking for more information on our employee benefit plan audit services? Our CPA firm proudly serves, Auburn, Opelika, Montgomery and the rest of Alabama and surrounding states. Fill out our contact form below or call us anytime at 334-887-7022 and one of our professionals will be glad to help. Together, we can Return Value to your organization.