Employee Benefit Plans

Employee benefit plan (EBP) audits require expertise beyond standard accounting services due to the complexities introduced by Department of Labor (DOL) and Employee Retirement Income Security Act (ERISA) regulations. ERISA mandates that plans with 100 or more participants at the start of the plan year undergo a financial statement audit. A quality audit is critical to maintaining the financial integrity of the plan, protecting plan assets, and ensuring the plan administrator fulfills their legal responsibility to file an accurate annual return.

Why Choose BCS CPA as Your Plan Auditor?

• A CPA supervises all aspects of the engagement, including planning, fieldwork, and conclusions, ensuring high-quality service throughout the process.
• The EBP audit team consists exclusively of CPAs with in-depth knowledge of ERISA, tax, and DOL laws and regulations.
• Team members participate in continuing professional education specifically designed for EBP auditors to stay updated on the latest standards.
• Membership in the AICPA Employee Benefit Plan Audit Quality Center demonstrates adherence to the highest standards in EBP auditing.
• Assistance is available for self-correcting operational errors using IRS-approved guidelines.
• Guidance is provided to help navigate DOL audits, often resulting in no findings or recommendations.
• Experience includes auditing plans of varying sizes and complexities, with plan asset sizes ranging from $750,000 to $53,000,000 and participant numbers from 130 to 1,500.

Types of Plans Audited
Expertise extends to a wide range of EBP audits, including:

• 401(k) Plans
• 401(a) Plans
• 403(b) Plans
• Defined Benefit Plans
• Health and Welfare Plans

Additional Services Provided

• Form 5500 Preparation
• Form 8955-SSA Preparation
• Form 720
• Other Employee Benefit Plan Consulting