401Kquestions

Hello, I'd be happy to explain our logic... The client was paying for three separate plans that cost them $3k/piece annually and the groups eligibility was growing which was inevitably going to trigger not 1 audit but 3! We got them into a nice 401K plan with only an $850 annual cost (thanks empower ) And I appreciate all the help from everyone that contributed in my first post. After doing some research we got our answer - we can defer the audit to next year phew... Thanks All!

Hello, I'm new here and was hoping to get some clarification on a question regarding 401K and deferring the Audit. From 2016-2017 we had 3 401K plans with common ownership... starting September 2018 we merged all the assets from those 3 prior plans into a new plan with new plan number. For the three prior plans the group has always filed a 5500SF... Now that we have merged those assets into an entirely new plan with new plan number on September 2018 our eligibility has climbed we think to more than 100 eligible....My question is since the plan is a new plan starting on 09/2018 -12/2018 can we defer the audit to the next year? I keep getting mixed answers on this with some CPA's saying that it isn't a new plan it is an offspring of the 3 prior plans so it wouldn't qualify to defer the audit the following year. Any input is appreciated as I keep getting answers saying we can and some saying we can't defer the audit... Thank you all!