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Defined Benefit Small Plan Audit Wiaver


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So to be exempt from the audit requirement a DB Plan must disclose in it's SAR the regulated financial institution that holds the plan assets.

But what if the Plan is not doing an SAR because it is a PBGC plan and preparing the AFN?

Full disclosure, I am not an actuary -  we hire an actuary to do the actuarial work. So even though I don;t know something basic, we pay people who know but I thought I'd start with you folks.

Austin Powers, CPA, QPA, ERPA

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  • 2 weeks later...

From 5500-SF instruction: For defined benefit pension plans that are required pursuant to section 101(f) of ERISA to furnish an Annual Funding Notice (AFN), the administrator must instead either provide the information to participants and beneficiaries with the AFN or as a stand-alone notification at the time an SAR would have been due and in accordance with the rules for furnishing an SAR, although such plans do not have to furnish an SAR;

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