A small plan form 5500 (exempt from audit) was filed with DOL for a newly established plan.
But later a client internal auditor found out there were misreporting on the employee/participant payroll data.
As a result, the participant count for this new plan found to be more than 100.
Can this error simply be corrected by amending & filing a large plan form 5500 with audit report?
I would like to hear the opinion of anyone who had the similar issue.