401k Audit – Boston, MA

With over 30 years of experience, Newburg & Company, LLP offers 401K audit services to Boston, MA and the surrounding areas. A 401k audit is required when certain conditions are met, primarily when the plan is known as a “large” plan. Confused or have questions? Let Newburg help!

401k Audit Necessary for Your Boston, MA Business?

When your 401K plan is deemed “large” it means that your plan is a pension plan that includes over 100 eligible participants at the beginning of the plan year. There are three types of participants and they are as follows:
401k Audit Boston MA

  • Active Participants – Currently employed, covered under the plan and are receiving credited services. This includes those who have elected to participate and those who are eligible, but not participating.
  • Retired or Separated – Individuals who are no longer employed by the employer but are receiving or entitled to benefits.
  • Deceased – Individuals who are deceased have one or more beneficiaries receiving or entitled to benefits.

Navigating the waters of your 401k can be tricky. Having an accurate total participant count is very important! When you reach 100, Newburg & Company, LLP will conduct a 401k audit of your plan.

There are two exceptions to the audit requirement known as a short plan year and the 80 to 120 participant rules. For further information regarding these exceptions and to learn if you are eligible, contact Newburg & Company, LLP.

Goals of a 401K Audit with Newburg

Newburg & Company, LLP will perform an audit to ensure the 401k plan is in compliance with both government regulations and specified requirements within the plan.

To make sure that your plan is in compliance, or to learn more about a 401k audit in the Boston, MA area, contact the experienced team at Newburg & Company, LLP today for a confidential consultation.

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