Forums
403(b) Audits for 2009 plan year
Benefits & Compensation
403(b) Audits for 2009 plan year
Exchange ideas about health plans, retirement, work/life benefits, and employee assistance.
We are planning on terminating our 403(b) in the next month or so and moving to a 401(k). Does anyone know if we will still be required to conduct a full audit next year on the 403(b) 2009 plan year,
0
Cat:Topic ForumsForum:ForumId52
Cat:Topic ForumsForum:ForumId52Discussion:DiscussionId35810
Forums » Topic Forums » Benefits & Compensation » 403(b) Audits for 2009 plan year
|
403(b) Audits for 2009 plan year
posted at 5/7/2009 4:02 AM EDT
|
Posts: 2
First: 5/7/2009 Last: 5/7/2009 |
We are planning on terminating our 403(b) in the next month or so and moving to a 401(k). Does anyone know if we will still be required to conduct a full audit next year on the 403(b) 2009 plan year, even if it was only in place for 6 months? I'm thinking yes, but my boss thinks the opposite. I would have thought that even if the plan was in place for just one month, we would still be required to conduct an audit as we have over 100 participants... |
|
|
403(b) Audits for 2009 plan year
posted at 5/7/2009 4:44 AM EDT
|
|
Posts: 2146
First: 2/15/2006 Last: 9/14/2011 |
Are you required to do a 5500? If so, even in a partial plan year, you would need to audit the plan.
And honestly anyone terminating a plan would be wise to have a final audit to make sure everything is proper prior to distributing funds or allowing them to be rolled out. |
Forums » Topic Forums » Benefits & Compensation » 403(b) Audits for 2009 plan year
