ERISA Audit Services

Caron & Bletzer has concentrated its practice in auditing employee benefit plans since 1993 and we currently have one of the largest employee benefit plan audit practices in the United States.

Employee Benefit Plan Services Overview

Employee benefit pension plans and welfare benefit plans, in general, are governed by the Employee Retirement Income Security Act of 1974, commonly known as ERISA. The U.S. Department of Labor (DOL) and the Internal Revenue Service (IRS) are charged with the enforcement of ERISA and the related sections of the Internal Revenue Code (IRC). One of the major tools these agencies use is the Form 5500. Plans subject to Title I of ERISA are generally required to file Form 5500 annually.

Caron & Bletzer is dedicated to providing quality ERISA audit services including audits of employee benefit plans for DOL and SEC reporting purposes. Our highly-experienced team can help you understand the specialized requirements of ERISA as it applies to your plan, while providing cost-effective audit and consulting services. Our firm's ERISA practice adheres to the highest practice standards. We are members of the AICPA Employee Benefit Plan Audit Quality Center (EBPAQC) and the Public Company Accounting Oversight Board (PCAOB).

Our experience in this area allows our firm to conduct the most cost-effective audit possible, while utilizing our backgrounds to quickly recognize problem areas. We also gain efficiencies through our strong working relationships with asset custodians, record keepers and ERISA attorneys nationwide. For "large" plan filers (and some small plan filers), this reporting requirement includes an annual financial statement audit. The constant evolution of the rules and regulations that apply to employee benefit plans make it challenging to stay up to date. As a result, the DOL has found many employee benefit plan audits to be deficient.

A deficiency finding may result in civil penalties levied on the plan's sponsor. In today's litigious environment, it is more important than ever that the accountants and auditors that you engage are experts in auditing employee benefit plans. Please click on our "selecting an auditor" link for tips on fulfilling this important fiduciary duty, including links to the DOL and American Institute of Certified Public Accountants (AICPA) web sites for advice.

ERISA Audit Services We Offer

Employee benefit plan audits of:

  • 11-K Audits
  • 401(k) plans
  • Other 401(a) plans
  • 403(b) plans
  • Money purchase pension plans
  • Defined benefit pension plans
  • Cash balance pension plans
  • ESOP's
  • Other hybrid plans
  • Funded welfare benefit plans

ERISA consulting and other employee benefit plan services:

  • Form 5500 preparation and review
  • Representation in DOL and IRS examinations
  • Consulting in ESOP formation and transactions
  • Assistance with the RFP process to find plan service providers

Benefits of Selecting C&B for your Employee Benefit Plan Audit

When you engage Caron & Bletzer as your employee benefit plan auditor, you will receive:

  • Field auditor teams led by managers with a minimum of 4 years of full-time experience auditing employee benefit plans
  • Continuity in staffing from year to year for your audit engagement
  • No brand new staff people asking the same questions year after year
  • Quick turnaround on your audit report – If you are prepared for us, we will have your audit report completed in weeks, not months
  • Accessibility to the partner on your engagement at any time
  • Fair and reasonable audit fees, generally much lower than large regional and national firms, while receiving the same expertise and more responsive service

ERISA AUDIT SERVICES WE OFFER

Employee benefit plan audits of:

  • 11-K Audits
  • 401(k) plans
  • 403(b) plans
  • Other 401(a) plans
  • Money purchase pension plans
  • Defined benefit pension plans
  • Cash balance pension plans
  • ESOPs
  • Other hybrid plans
  • Funded welfare benefit plans

ERISA consulting and other employee benefit plan services:

Form 5500 preparation and review

Employee benefit plan tax services, including preparation of Forms 8955-SSA, 5330, 990, 990-T

Representation in DOL and IRS examinations

Consulting in ESOP formation and transactions

Assistance in correcting problems involving late filings, plan administration and design, including self-corrections and submissions to the DOL and IRS under established correction programs (DFVCP, VFCP and EPCRS)

Assistance with the RFP process to find plan service providers