Audit Lists for 403(b) Plan Sponsors

PlanSponsor.com has posted Audit Lists for 2009 and 2010 for sponsors of 403(b) plans.  According to PlanSponsor, "It took [the IRS] 40 years to put out the new guidance.  You can bet that they'll want to make sure people are following the rules."

 

The lists allow 403(b) plan sponsors to "self audit" and fix problems that might exist by using the IRS's voluntary correction programs instead of waiting for an audit to catch them, which could result in a more 'painful' resolution.

 

Baden Retirement Plan Services assists companies whose plans are being audited by the IRS.  Please contact us with questions about how the attached article applies to your particular situation.