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Showing results for tags 'audited financial statements'.
Found 2 results
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Hi all! first time posting here. I have a 401k plan where in 2019 plan year a excess SH contribution was identified, the auditors made us move the excess match to "Excess contribution payable" as a liability and reduce the SH contribution line on the financial statements. Nothing was done to schedule H. The excess SH from 2019 was put into the employer's forfeiture account. How do I fix the reconciling payable in the 2020 plan year financial statements? Should that SH excess been a payable at all if the amount was going to go into forfeiture and not paid out by the plan? Any insight is appreciated.
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I was just made aware that the 2016 5500 filings for our plans failed to include the audited financial reports. The reports were done on time but the wrong attachments were uploaded to EFAST. No notice was received from the DOL, as of yet, but I would like to get this corrected as soon as possible. Do I amend the filings via EFAST or is there another more efficient way?
