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Showing results for tags 'Failed Audits'.
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Received a call from CFO of a client with 300 employees, 260 eligible,40 deferring...CFO filed 5500's 2009-2014 -- thought that plan did not need an audit. Hired a new CPA who asked about copies of audits. Nada! Frankly, I've never had anything but late audits...with no meaningful consequences. 4 questions: Is this similar to a DFVC event [since I was always told that the DOL considers a failure to attach the audit as a non-filing]? Can they get just one massive audit that covers all years and just refile the 2014 5500 + 2009-2014 audit attached, as an amended 2014 return, with DFVC and amended return boxes checked? -- or-- Must they refile every separate 5500 and have separate audits, year by year? Does the CFO need to commit hari-kari, kamikaze or "It's a Good Life" type action??? Thanks in advance.