Top CPAs: Trust Analytix for
401(k) Audit Services

Leverage the expertise of our dedicated team of professionals to assist you with your 401(k) audit service needs. Whether these needs relate to reviewing audit eligibility or researching financial statements for Employee Benefit Plans (EBP), or reconciliation to Form 5500, our team has extensive knowledge and understanding of current regulatory requirements to help your business meet all audit reporting requirements. This allows our clients to focus on business operations without the stress and time commitment associated with audit preparation.

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Employee Benefit Plan Audit Services

  • Comprehensive audit services
  • Operational Consulting
  • Benefit Payments
  • Loan Processing
  • 103(a)(3)(c), Formerly Limited Scope Audits
  • ERISA and DOL Reporting Requirements
  • 401(k) Plan Audit Design Recommendations
  • Plan Correction Assistance
  • Preparation and Review of EBP Financial Statements
  • Review of SOC2 Reports

How it Works

401(k) Audit - How It Works

  • Plan Design and Document Review

    Review of the operations and the controls that are in place along with financial data on contributions, loans, rollovers or other transactions made during the plan year

  • 401(k) Deposit Review &
    Participant-Level Sampling

    Analysis of essential details about benefit plan financial transactions and employee plan participation. Review of deposit report and participant-level requests

  • Closing Audit Procedures

    We provide audited financial statements with form 5500
    along with the issues we discovered.

401(k) Audit Services We Perform

Limited Scope Audit

A limited scope audit entails fewer audit procedures and less testing. But does your firm’s business structure qualify for one? Are your 401(k) plans in order? Does your firm have an administrator for 401(k) plans? Entrust these and other critical queries to our team. Our experts can help determine the kind of 401(k) audit your business needs and is eligible for. Our team of professionals reviews your SOC2 reports to determine whether the business is eligible for a limited scope audit.

Full Scope Audit

A full scope audit will depend upon multiple factors: Does your
firm have a 401(k) administrator? If not, are you sure your business
is compliant with 401(k) plan requirements and responsibilities? Our professionals can help review relevant documents and help you decide on a course of action for a full scope audit. Once it is determined that your business could do better with a full scope audit, our team dedicated to your firm’s 401(k) audit will perform more testing to supplement these procedures.

Why Choose us

Specialized Knowledge
Teams comprising expert 401(k) auditors with an in-depth understanding of 401(k) audit requirements, regulations, and best practices, all of which ensure compliant audits.
Time Efficiency
Unburden and free up time for your internal team, thereby allowing them to focus on core business functions while the experts handle the 401k audit requirements efficiently.
Compliance Assurance
Expert auditors ensure your 401(k) plan stays compliant with changing regulations and thereby minimize the risk of penalties or fines.
Cost Savings
Outsourcing eliminates the need for additional staff or training and therefore helps businesses save on overhead costs associated with conducting audits in-house.
Unbiased Assessments
External and expert 401(k) auditors provide an impartial perspective, which improves the credibility and accuracy of the audit process.
Peace of Mind
Gain freedom from anxiety, knowing your 401(k) audit requirements are in expert hands. Benefit from more time to focus on business growth planning instead.
Diverse Accounting and Bookkeeping Services Portfolio

Diverse Service Portfolio

Aside from comprehensive 401(k) Audit Services, Analytix offers expert business insights in the following services

Membership & Certification

MSCPA
PASBA
AICPA
Xero Gold Partner
Quickbooks

Losing Sleep Over Client 401(k) Audits? Connect With Us Today!

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Frequently Asked Questions

  • What are 401(k) audit requirements?

    401(k) audit requirements include 401k plan documents, participant data, contribution records, investment statements, distribution records, and other relevant documentation.

  • How can businesses prepare for a 401(k)-plan audit?

    A 401(k)-plan audit can be an extensive process that lasts for a couple of months, depending on the level of access to plan data. Here are some areas covered by a 401(k)-plan audit.

    • A review of 401(k) plan documents provided to verify plan compliance
    • Documentation of any amendments made to the plan during the year
    • Review of Form 5500 and 401(k) financial statements
    • Assessing company records for 401(k) plan
    • Review of employee contributions and remittance funds
    • Review of payouts
  • Does non-compliance with 401(k) audit requirements lead to a penalty?

    Not complying with audit requirements can lead to penalties from the IRS and the Department of Labor (DOL). The penalties vary depending on the severity of non-compliance.

  • What do 401(k) auditors focus on during a 401(k) audit?

    Areas such as participant eligibility, contribution calculations, compliance with plan document terms, investment valuation, internal controls, and adherence to ERISA’s fiduciary responsibilities are some of the areas auditors focus on during a 401(k) Plan Audit.

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