Compliance Review


Compliance reviews are important tools in mitigating risk that can identify defects and provide the opportunity for sponsors to take advantage of governmental correction programs; give sponsors the ability to obtain approval of the correction from the IRS and/or DOL and pay a reduced fee; and in some cases, self-correct the defect with no reporting or payment of fees required.

PlanPilot addresses compliance concerns of plan administration, by reviewing plan documents for compliance with all appropriate laws, regulations and rulings administrative guidelines that dictate how certain processes are to be handled; and documentation on following the correct protocols or corrective action required.

For the sponsor seeking the liability protections afforded by compliance with Section 404(c), it is important to understand that it is an all or nothing proposition. You either comply fully or not; there is no credit for partial compliance. There are more than 20 reporting and disclosure requirements related to 404(c) and PlanPilot will help you benchmark your plan’s historical activities against the checklist of requirements.

Compliance Review


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