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VEBA - Audit Requirement


Guest rgorman
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Guest rgorman

Maybe a silly question but want to verify I am not missing anything.

Client has VEBA and for the first time, the participant count is under 100 and will not be going back over 100.

Since the plan is funded through the VEBA trust, I know there is a 5500 requirement regardless of the count. But do they need an audit if the count is now under 100. I believe no but want to confirm.

Thank you

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  • 2 weeks later...
Guest Ira Hayes

If participant count is less than 100 at end of plan year, existence of trust (wasting or active) calls for attachment of Schedule I to which an audit opinion is not to be attached (only when Schedule H is attached).

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