401K/403B Audit

401(k)/403(b) Audit Services

If you are a company with more than 100 eligible 401(k) or 403(b) participants, you may be required to secure an audit of your retirement plan. Regulated by the IRS and US Department of Labor, this annual audit protects ensure compliance with stringent regulations set for by the Employee Retirement Income Security Act (ERISA), the Department of Labor (DOL), and the Social Security Administration. It also protects investors and ensures retirement funds are being properly managed.

Considering the level of detail and the serious legal and financial stakes involved with plan administration, performing these 401(k) and 403(b) audits requires specialized knowledge and experience regarding fiduciary responsibility, asset protection, and constantly changing regulatory and reporting requirements. Fortunately, Romano and Mitchell has been providing timely and responsive 401(k) and 403(b) audit services to companies in the Metro DC area for more than a quarter of a century.

We thoroughly understand the complexities and legal requirements of statutes like the Employee Retirement Income Security Act of 1974 (ERISA) and have extensive experience reviewing defined contribution plans. As voluntary members of the AICPA Employee Benefit Plan Audit Quality Center, our team of experts are constantly being educated and updated on the latest developments and legislation regarding compliance. By adhering to carefully developed accepted standards and practices, we are able to deliver the consistency, accuracy and transparency you need to remain compliance.

Using the DOL/IRS-developed Form 5500, we ensure your reporting is accurate and compliant under Titles I and IV or ERISA. In our experience, this important document offers more than simple disclosure for participants and beneficiaries – it also serves as a transparent source of information for government and private agencies as they analyze employee benefit trends and policies and their overall effectiveness.

Benefits of engaging an experienced team like Romano & Mitchell include:

  • Peace of mind knowing that your company is compliant with all ERISA regulations
  • Efficient, timely and cost-effective filing of all forms, reports and disclosure documents
  • Effective administrative oversight and coordination
  • Recognized audit quality through voluntary submission of peer reviews and AICPA membership

Whether you’re a growing company in need of your first 401(k) or 403(b) audit, or a sizable multi-plan, multi-location company seeking an experienced CPA firm to help you manage ongoing compliance, Romano and Mitchell has the specialized training and industry-specific experience to partner with you. Contact Romano & Mitchell today to schedule a free consultation with one of our CPAs.