ANNUAL Management & COMPLIANCE
All qualified retirement plans are required to complete annual testing and reporting based on their design. We will complete all of the annual testing each year to ensure the plan meets all of those necessary requirements.
STAYING IN COMPLIANCE CAN GET CONFUSIng. We're here to help.
We take the burden of the annual plan requirements off your shoulders by preparing your plan’s required testing and government tax filings each year. We will make collecting the data needed for these tasks as streamlined as possible to meet the deadlines in order to keep your plan in compliance. We will also assist with any contribution calculations and work with your CPA to ensure they receive the data they need in order to file your corporate return on time. We understand that compliance reports can be overwhelming and are here to help you through the process in order for everything to be done correctly and on time.
here's what we keep an eye on and prepare for you
We will request the data needed in order to complete the required testing each year through our secure portal.
Once the data is received, we will be able complete all of the required testing needed for the year which could include:
- ADP/ACP Testing under IRC Section 401(k) and 401(m)
- IRC Section 410(b) Coverage Testing
- IRC Section 402(g) deferral limit test
- Non-Discrimination Testing under IRC Section 401(a)(4)
- IRC Section 415 annual addition limit testing
- Top heavy testing under IRC Section 416
- Maximum deductible contributions test under IRC Section 404
After all of the tests have been completed we will send you a copy of the full valuation report detailing the results from that plan year.
Provide a calculation of any required contributions for the plan year. In addition, if additional discretionary employer contributions are desired, we will provide consultation and calculation options to consider, along with funding summaries of all amounts due.
Prepare the Form 5500 annual tax filing required by the IRS/DOL, along with Form 8955 SSA as necessary and will also prepare the Summary Annual Report which is required to be completed each year and distributed to employees.