Answer all your 401(k) audit questions.
Questions About 401(k) Audits?
It is common for clients to have questions about the 401(k) audit process. PriceKubecka has performed hundreds of audits over the past 25 years. Here are the answers to the most frequently asked questions.
- Why do I have to complete a 401(k) audit each year?
- How is eligibility determined?
- What will be required from my auditor?
The rules change often. Whether this is your company’s first 401(k) audit or one of many completed over the years, this guide tells you all you need to know about the 401(k) audit.
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Basic Requirements For All 401(k) Audits
Employers with 100 or more employees who are eligible to participate at the beginning of a year are required to have their plan audited.
If required to be audited, the employer must find an independent, qualified auditor to perform the audit.
The audit report must be attached to the Form 5500 and filed by the original deadline of July 31st or the extended deadline of October 15th.
All aspects of the plan will be tested to ensure operations are in compliance with plan documents, laws, and regulations.
Who We Are
PriceKubecka helps businesses grow by providing innovative strategies for complex accounting, tax, and audit problems. As a voluntary member of AICPA’s Employee Benefits Plan Audit Quality Center, our trained auditors are knowledgeable in the unique aspects of employee benefit plans.
In 2017, we built a proprietary auditing technology called Autire to help clients reduce the time and labor associated with their annual 401(k) audit. By streamlining the auditing process, we were able to reduce the time and cost of the audit by 50%, and we passed those savings on to you.
Ken Blackard, CFO
Koetter Fire Protection
We’ve used PriceKubecka, PLLC to perform our 401(k) audit for the past 7 years and have always experienced superior customer service. PK’s staff is extremely knowledgeable, consistently responsive and best of all, they’re fun to work with. Most importantly, their technology makes the audit process easy.