Employee Benefit Plan Compliance Assessment

The standards and regulations for employee benefit plans are complex. Many plans are required by the Employee Retirement Income Security Act (ERISA) to have an independent audit when the plan sponsor has 100 employees eligible to participate in the plan.

Even if your employee benefit plan isn’t subject to ERISA, or doesn’t yet have 100 eligible employees, it is still subject to IRS regulations, which are very similar to ERISA regulations. As the plan sponsor, you are required to operate the plan in accordance with applicable regulations, and you cannot rely on the plan’s custodian or recordkeeper to do this for you.

The CapinCrouse Employee Benefit Plan Compliance Assessment was created to help you evaluate compliance with government regulations, identify any potential issues, and provide recommendations to address those issues. We use our proprietary checklist to:

  • Assess whether your plan is operating in accordance with the terms of the plan document
  • Assess operations of the plan in accordance with Department of Labor and IRS requirements, as applicable
  • Evaluate whether you are meeting your fiduciary responsibility as the plan sponsor
  • Confirm that the plan is up-to-date with the latest regulations
  • Help you avoid costly penalties for noncompliance, which in some cases can be hundreds of thousands of dollars
  • Prepare you for an audit and help you avoid unanticipated issues

At the end of the assessment, you’ll receive a confidential report outlining our findings, areas to address, and recommended action steps.

Please contact us to learn more about this service and how we can support you.