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How We Complete Your EBP Audit in 5 Hours or Less of Your Time

by | Apr 29, 2026

If you’ve been through an Employee Benefit Plan audit before, you already know the drill: endless back-and-forth, repeated document requests, and 10–20+ hours of your team’s time tied up answering questions.

But it doesn’t have to be that way. PriceKubecka has completely reengineered the EBP audit experience with a process that will limit your total time investment to 5 hours or less—without cutting corners, and without sacrificing audit quality.

Here’s how.

Man working on phone

We Eliminate Back-and-Forth Before It Starts

Most audit pain comes from disorganized requests and constant follow-ups. We fix that upfront.

  • You complete a quick questionnaire and engagement letter online
  • Then we run a structured 90-minute kickoff call to gather everything we need in one shot
  • We set expectations, collect key details, and secure system access immediately

Result: No drip-by-drip requests. No confusion. No wasted time.

We Go Straight to the Source (Not You)

Instead of relying on you to track down documents, we work directly with your providers.

  • We pull data from recordkeepers, payroll systems, and plan documents
  • We import everything into our audit platform ourselves

Result: You’re not stuck playing middleman between your auditor and your vendors.

We Front-Load the Heavy Lifting

Traditional firms spread work across weeks, creating constant interruptions. Not us

  • We gather documents early and resolve most requests upfront.
  • Then we perform full-population testing and data analytics behind the scenes.

Result: Minimal follow-up questions later = less disruption for you.

We Replace Endless Emails with Two Focused Conversations

Instead of dragging you through weeks of emails, we consolidate communication into just a couple key touchpoints:

  • Kickoff Call (90 minutes) to set everything up
  • Audit Results Discussion (1 hour): Walk through initial findings, determine if any corrections should be made, and request any open items.

Everything else happens without you.

Result: Clear, efficient communication without constant interruptions.

Once we have what we need, your involvement drops off significantly.

  • Sample testing (participants, contributions, loa

We Only Bring You Back In for What Actually Matters

Your final involvement is limited to:

  • Reviewing drafts
  • Signing the management representation letter
  • Addressing any necessary corrections

That’s it.

The Bottom Line

Most firms require 10–20+ hours of your time because their process is reactive, manual, and unstructured. PriceKubecka’s EBP audit process is engineered differently.

  • Structured upfront data collection
  • Direct integration with your providers
  • Full-population testing (not endless sampling cycles)
  • Minimal, intentional touchpoints

That’s how we consistently keep your time to 5 hours or less without sacrificing quality.

See How Little Time Your EBP Audit Should Take

Schedule a quick call and we’ll walk you through exactly how we can complete your audit in under 5 hours of your time—no surprises, no back-and-forth, no wasted effort.

 

👉 Book Your Audit Strategy Call

Frequently Asked Questions

How long should an EBP audit take for plan sponsors?

Most Employee Benefit Plan audits require 10–20+ hours of a plan sponsor’s time due to repeated document requests and back-and-forth communication. However, firms with a structured, data-driven process can reduce that time to 5 hours or less by handling data collection, testing, and coordination internally.

Why do some 401(k) audits take so much time from plan sponsors?

401(k) audits become time-consuming when auditors:

  • Request documents in multiple rounds
  • Rely on the plan sponsor to gather data from providers
  • Use inefficient sampling methods
  • Lack a clear, upfront process

These inefficiencies create constant interruptions and significantly increase the time burden on your team.

How can a CPA firm reduce the time required for an EBP audit?

A CPA firm can minimize plan sponsor involvement by:

  • Collecting data directly from recordkeepers and payroll providers
  • Using standardized, upfront document requests
  • Performing full-population testing and data analytics
  • Limiting communication to key milestone meetings

This approach eliminates unnecessary back-and-forth and keeps the audit moving efficiently.

What information does a plan sponsor actually need to provide during an EBP audit?

In a streamlined Employee Benefit Plan audit, plan sponsors typically only need to:

  • Complete an initial questionnaire
  • Participate in a kickoff call
  • Provide access to systems (e.g., recordkeeper, payroll)
  • Review final audit documents and sign required letters

Everything else—testing, data analysis, and follow-ups—is handled by the audit team.

Is a faster 401(k) audit less thorough or lower quality?

No—when done correctly, a faster audit is often more thorough, not less. Firms that use full-population testing, standardized workflows, and data analytics can identify issues more accurately than traditional sampling-based approaches. The key difference is efficiency—not reduced quality or compliance.

Does a Fiscal-Year 401(k) Plan Still Need an Audit?

Potentially, yes.

Operating on a fiscal year does not eliminate or change the basic requirement for an independent employee benefit plan audit. Whether a defined contribution plan requires an audit generally depends on its Form 5500 filing status and the applicable participant-count rules—not whether its plan year ends December 31.

For defined contribution plans, the relevant participant count now focuses on participants and beneficiaries who have account balances at the beginning of the plan year, rather than everyone merely eligible to participate.

So an off-cycle plan sponsor should answer two separate questions:

Do we have an audit requirement?

And, if so:

When must that audit be completed so our Form 5500 can be filed on time?

Those are related questions, but they aren’t the same question.

When Should a Fiscal-Year 401(k) Audit Start?

The Form 5500 deadline should be the end of your audit timeline—not the beginning of it. The safest approach is to work backward from your actual filing deadline and establish the audit schedule well in advance.

If an independent audit is required, the auditor’s report generally accompanies the Form 5500 filing. That means the audit needs to be substantially complete before your filing deadline arrives.

There isn’t one audit-start date that works for every plan. The amount of time needed depends on factors such as plan size, the availability of records, the complexity of the plan and whether testing identifies issues requiring follow-up.

A practical timeline should allow time for:

Data collection: Your team may need to gather census information, payroll data, contribution records, recordkeeper reports, participant files and plan documents.

Audit testing: Your auditor will perform required procedures and may select participants or transactions for additional documentation.

Follow-up questions: Missing information and discrepancies often require responses from HR, payroll, the recordkeeper, TPA or other providers.

Resolving exceptions: Eligibility errors, contribution discrepancies, participant loans, distributions, compensation issues and other findings can require additional investigation.

Final review and issuance: The audit team still needs time to complete its review and issue the auditor’s report before the Form 5500 is finalized.

Example: A 401(k) Plan With a March 31 Year-End

Suppose your plan year ends March 31.

Your normal Form 5500 deadline is generally October 31.

With a timely Form 5558 extension, the deadline can generally be extended to January 15.

That does not mean January should become your target date for beginning the audit.

Instead, the plan sponsor and auditor should establish a timeline that leaves enough time before the applicable deadline to obtain records, complete testing and address any unexpected issues.

In other words:

March 31 plan year-end → October 31 normal deadline → January 15 extended deadline

Your audit calendar should be built backward from whichever filing deadline applies.

Example: A 401(k) Plan With a June 30 Year-End

A June 30 plan operates on a very different schedule.

Its Form 5500 would generally be due January 31 of the following year.

With a timely Form 5558 extension, the deadline would generally move to April 15.

For that employer, traditional summer 401(k) “audit season” may be largely irrelevant. Its audit preparation and testing may instead take place during the fall and winter.

That is why a plan with a non-calendar-year end should work with an auditor that maintains employee benefit plan audit capabilities throughout the year.

What Can Delay an Off-Cycle 401(k) Audit?

Having a different deadline doesn’t protect a plan from the same issues that slow down calendar-year audits.

Some common audit roadblocks include:

  • Missing or inaccurate census information
  • Eligibility and plan entry-date errors
  • Incorrect employer contribution or match calculations
  • Incorrect application of the plan’s compensation definition
  • Late participant contributions
  • Participant loan problems
  • Vesting or forfeiture discrepancies
  • Distribution documentation issues
  • Differences between payroll and recordkeeper data
  • Delays obtaining information from outside service providers

One of the advantages of starting early is having time to resolve those issues before they become filing-deadline problems.

What If Your Fiscal-Year Form 5500 Deadline Falls on a Weekend or Holiday?

There is an important exception to the dates in the chart.

If a Form 5500 filing deadline falls on a Saturday, Sunday or federal holiday, the filing can generally be made on the next day that is not a Saturday, Sunday or federal holiday. U.S. Department of Labor

That means sponsors should verify the precise deadline for the applicable filing year rather than relying solely on a recurring calendar.

The month-by-month chart is best used as a planning guide.

What About Short Plan Years?

A short plan year can occur when, for example, a plan changes its plan-year end or terminates and completes the distribution of plan assets.

The general Form 5500 timing rule still applies: the filing is generally due by the last day of the seventh calendar month after the short plan year ends, subject to an authorized extension. U.S. Department of Labor

Short plan years can introduce additional reporting and audit considerations, so sponsors should coordinate the filing timeline with their TPA, auditor and other advisors rather than assuming the normal annual schedule applies.

Don’t Build Your Audit Around October 15 If October 15 Isn’t Your Deadline

October 15 gets enormous attention in the 401(k) industry because it is the extended Form 5500 deadline for many calendar-year plans.

But it’s only one deadline.

For a non-calendar-year plan, your filing date could fall in January, April, June, November—or virtually any other month.

Your audit calendar should therefore begin with three questions:

When does our 401(k) plan year end?

When is our Form 5500 due?

When does the audit need to begin to comfortably meet that deadline?

Once those dates are established, your organization can build a recurring compliance calendar around its own plan rather than someone else’s audit season.

Looking for a 401(k) Auditor for a Fiscal-Year Plan?

PriceKubecka performs employee benefit plan audits throughout the year for both calendar-year and non-calendar-year 401(k) plans.

Our employee benefit plan specialists perform more than 400 EBP audits annually, including 401(k), 403(b) and ESOP audits. Because employee benefit plan auditing is a significant part of our audit practice, we can work with plan sponsors whose audit and Form 5500 deadlines fall throughout the year.

Whether your plan ends March 31, June 30, September 30 or another date, your audit should be built around your plan year and your deadline.

[Talk to a 401(k) Auditor]

Example: A 401(k) Plan With a March 31 Year-End

Suppose your plan year ends March 31. Your normal Form 5500 deadline is generally October 31.

With a timely Form 5558 extension, the deadline can generally be extended to January 15.

That does not mean January should become your target date for beginning the audit.

Instead, the plan sponsor and auditor should establish a timeline that leaves enough time before the applicable deadline to obtain records, complete testing and address any unexpected issues.

In other words:

March 31 plan year-end → October 31 normal deadline → January 15 extended deadline

Example: A 401(k) Plan With a June 30 Year-End

A June 30 plan operates on a very different schedule.

This plan’s Form 5500 would generally be due January 31 of the following year. With a timely Form 5558 extension, the deadline would generally move to April 15.

For that employer, traditional summer 401(k) “audit season” may be largely irrelevant. Its audit prep and testing may instead take place during the fall and winter.

That’s why a plan with a non-calendar-year end should work with an auditor that maintains EBP audit capabilities throughout the year.

In other words:

June 30 plan year-end → January 31 normal deadline → April 15 extended deadline

What Can Delay an Off-Cycle 401(k) Audit?

Having a different deadline doesn’t protect a plan from the same issues that slow down calendar-year audits. Some common audit roadblocks include:

  • Missing or inaccurate census information
  • Eligibility and plan entry-date errors
  • Incorrect employer contribution or match calculations
  • Incorrect application of the plan’s compensation definition
  • Late participant contributions
  • Participant loan problems
  • Vesting or forfeiture discrepancies
  • Distribution documentation issues
  • Differences between payroll and recordkeeper data
  • Delays obtaining information from outside service providers

One of the advantages of starting early is having time to resolve those issues before they become filing-deadline problems.

What If Your Fiscal-Year Form 5500 Deadline Falls on a Weekend or Holiday?

There is an important exception to the dates in the chart. If a Form 5500 filing deadline falls on a Saturday, Sunday or federal holiday, the filing can generally be made on the next day that is not a Saturday, Sunday, or federal holiday. 

That means sponsors should verify the precise deadline for the applicable filing year rather than relying solely on a recurring calendar. The month-by-month chart is best used as a planning guide.

What About Short Plan Years?

A short plan year can occur when, for example, a plan changes its plan-year end or terminates and completes the distribution of plan assets.

In this case, the general Form 5500 timing rule still applies: the filing is generally due by the last day of the seventh calendar month after the short plan year ends, subject to an authorized extension. 

Short plan years can introduce additional reporting and audit considerations, so sponsors should coordinate the filing timeline with their TPA, auditor, and other advisors rather than assuming the normal annual schedule applies.

Don’t Build Your Audit Around October 15 if it isn’t Your Deadline

October 15 gets enormous attention in the 401(k) industry because it is the extended Form 5500 deadline for many calendar-year plans. But it’s only one deadline.

For a non-calendar-year plan, your filing date could fall in January, April, June, November—or virtually any other month. Your audit calendar should therefore begin with three questions:

  1. When does our 401(k) plan year end?
  2. When is our Form 5500 due?
  3. When does the audit need to begin to comfortably meet that deadline?

Once those dates are established, your organization can build a recurring compliance calendar around its own plan rather than someone else’s audit season.

Looking for a 401(k) Auditor for a Fiscal-Year Plan?

PriceKubecka performs employee benefit plan audits throughout the year for both calendar-year and non-calendar-year 401(k) plans.

Our EBP specialists perform more than 400 audits annually, including 401(k), 403(b) and ESOP audits. Because employee benefit plan auditing is a significant part of our audit practice, we can work with plan sponsors whose audit and Form 5500 deadlines fall throughout the year.

Whether your plan ends March 31, June 30, September 30, or another date, your audit should be built around your plan year and your deadline.

[Talk to a 401(k) Auditor]

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