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Common 401k Plan Errors and how to Avoid Them – Late Deposits
As it relates to large 401(k) plans (100+ active participants), the Department of Labor and IRS are strict about how long it should take your company to deposit an employee’s withholding into their 401(k) account. PriceKubecka performed over 400 audits in 2023 and the most common error we saw was a failure to remit deposits in a timely manner.
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