Do you have 100 eligible participants in your 401(k) plan? If so, you might need a 401(k) audit. Anders CPAs + Advisors helps make the audit process as smooth as possible for companies across the United States. This podcast seeks to help companies learn everything they need to know about 401(k) audits, the audit process, and what you need to look for when searching for a 401(k) auditor. Tune-in monthly as Kim Moore, Director + 401(k) Audit at Anders, and special guests share the knowledge and experience acquired from decades of experience performing 401(k) audits. We'll answer some of the most common questions like does my company need a 401(k) audit? What do we need to do to prepare for a 401(K) audit? And much, much more.
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45 recent
December 30, 202442 min
Preparing Your Plan for New Secure Act 2.0 Provisions
Topics discussed in this episode include:Key upcoming provisions and their effective datesStrategies for evaluating and implementing plan changesWhy documentation is so important for complianceHow to prepare for plan amendments by the end of 2026Education and communication strategies for plan participantsEpisode resources:Watch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Request a 401(k) audit consultation
November 25, 202443 min
Working with a Third Party Administrator or Recordkeeper on Your 401(k) Plan
Topics discussed in this episode include:Practical tips to avoid common errors in census preparation What steps to take if a test is failedHow to correct for plan administration errors Best practices for maintaining documentationEpisode resources:Watch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Request a 401(k) audit consultation
October 14, 202439 min
Best Practices for Filing a Late Form 5500
Topics discussed in this episode include:What to ask a potential audit firmThe federal communications to look out for and what to do when they arriveHow to determine if an audit firm is the right fit for youTactics to prevent future late filingsEpisode resources:Watch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Request a 401(k) audit consultation
September 16, 202441 min
Taking Command of Your 401(k) Plan’s Internal Controls
Topics discussed in this episode include:Different types of controls and their various usesWhy it’s important to layer multiple controlsHow poor internal controls can negatively impact your 401(k) auditThe most common compensation issues auditors come acrossEpisode resources:Watch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Request a 401(k) audit consultation
August 26, 202436 min
Prevent Delays and Errors in your 401(k) Plan Audit with the Power of Automation Software
Topics discussed in this episode include:The pitfalls of customization options in payroll software and modules such as QuickBooksWhy it’s important to keep documents clearly organizedHow delays with documents can result in late filingsWhat is AuditMiner and how 401(k) auditors are able to use itEpisode resources:Watch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Request a 401(k) audit consultation
July 1, 202442 min
Key Steps to Successfully Finalize Your 401(k) Audit
Topics discussed in this episode include:A breakdown of the schedules you could encounter and their impact on your auditWhy you should always promptly answer any requests from your auditorWhat to include, and what to exclude, when filing your Form 5500Key tips to avoid difficulties while using the EFAST systemEpisode resources:Watch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Request a 401(k) audit consultation
May 20, 202428 min
What to Ask Your 401(k) Auditor About New 2023 Audit Process Requirements
Topics discussed in this episode include:How SAS 143 and SAS 145 can impact your 401(k) plan audit.The considerations you need to take with your IT environment, even if either your plan or your IT work is managed by a third-party.The consequences of changes to Form 5500 and why this change especially matters for companies hovering around the 100-participant threshold. Episode resources:Watch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Request a 401(k) audit consultation
April 1, 202446 min
Lessons Learned from the Department of Labor Audit Quality Study
Topics discussed in this episode include:Top takeaways from the Audit Quality StudyWhich sections of an EBP audit have the highest rates of errorsThe questions to ask your audit firm to determine whether they have the experience your business needsEpisode resources:Watch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Request a 401(k) audit consultation
January 31, 202438 min
7 Tips to Become a Proactive Plan Administrator
Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/ Topics discussed in this episode include:Tips on defining roles within your 401(k) plan to promote more cohesionThe importance of access reviews and why access levels are an equally important part of the discussionBenefits of a compliance calendar, plus tips to create one that helps you meet deadlines and improve processesWhy hiring an investment advisor could help improve participant satisfaction and be a part of your due diligenceEpisode resources:Watch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Email our Director and 401(k) Audit Practice Leader, Kim Moore, with questions.
October 2, 202349 min
Keeping up with 401(k) Compliance Requirements
Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/ “We always say that you can outsource the responsibility, but you can't outsource accountability. And you as the fiduciary are responsible. Even though you have hired this third party and you have a contract and everything else, you're still ultimately responsible for whatever happens. So, if something goes wrong and the money gets dispersed to the wrong person, you could be held liable.”Topics discussed in this episode include:How failure to comply with ERISA, DOL or IRS compliance guidelines can result in hefty fines, legal action and even jail time for plan fiduciariesThe importance of obtaining a fidelity bond, also known as an ERISA bond, even if a third-party administrator says it’s not necessaryDiscrimination testing best practices to ensure timely compliance so you can avoid paying excise taxesWhy plan sponsors and administrators should regularly review plan distributions Episode resourcesWatch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Email our Director and 401(k) Audit Practice Leader, Kim Moore, with questions.
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