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Qualified retirement plans: How to avoid common errors with audits & stay ahead of compliance issues

Are you in compliance?

If your organization's retirement plan has at least 100 eligible participants, your company is subject to an annual audit by a qualified third-party CPA firm. To avoid making mistakes that can lead to costly penalties and fines as well as drain your time, you must properly prepare for this audit. Failure to do so may subject your plan to a follow-up audit by the DOL and/or IRS, with the qualification of your plan at stake. Even if you're not required to have an audit of your plan, this session will cover the necessary operational tools to keep your plan in compliance with the applicable DOL and IRS requirements. Join us to discover how to self-audit your plan.

What you'll learn

  • Learn what plan auditors are looking for and how to prepare for a more efficient audit
  • Recognize compliance requirements to help avoid DOL/IRS penalties and fines
  • Understand and be better prepared to avoid common plan operational errors
  • Identify and help resolve errors in plan operations

Who should watch

  • Human resource professionals
  • CFOs and controllers
  • Retirement plan administrators
  • Payroll managers

Additional information

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Avoid these plan failures

These common retirement plan failures could land you in hot water with the IRS or DOL.

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Connect with Mark

Mark Schmelzle
Senior Vice President,
Assurance Services

Mark heads the financial services industry and employee benefit plan audit teams. He works primarily with clients in the financial services, insurance, manufacturing, and distribution industries. Mark's experience includes assisting a broad range of clients with financial statement, employee benefit plans, and other types of attest services such as fraud investigations and due diligence.

Mark is a certified public accountant and member of the American Institute of Certified Public Accountants, the Kansas Society of Certified Public Accountants, and Young Bank Officers of Kansas. He is an alumnus of Leadership Wichita, was named one of the Wichita Business Journal's "40 Under 40" young leaders in the community, and has served in leadership positions for a number of professional and community organizations including the Kansas Society of CPAs Wichita chapter, Youth Entrepreneurs, and the Make-A-Wish Foundation of Kansas.