This is the time of year that companies are finishing up their annual retirement plan audits. The filing of IRS Form 5500 is due on July 31 for plans with calendar year-ends. In general, any retirement plan exceeding $250,000 in assets must file a 5500.  But how do you know when you are ready for a retirement plan audit? With some exceptions, all retirement plans with … [Read more...]

IRS offers relief to small businesses that haven’t filed their retirement plan returns.

News from the IRS this week: WASHINGTON —The Internal Revenue Service today encouraged eligible small businesses that did not file certain retirement plan returns to take advantage of a low-cost penalty relief program enabling them to quickly come back into compliance. The program is designed to help small businesses that may have been unaware of the reporting … [Read more...]