Archimage Posted June 2, 2003 Posted June 2, 2003 A plan failed to get a required audit performed for the 2000 and 2001 plan years. Due to sales of certain divisions of the company, adequate records do not exist to audit the financial statements for the related periods. What are their options, if any?
E as in ERISA Posted June 2, 2003 Posted June 2, 2003 File the 5500 without an audit. When a notice is received, send a response telling the DOL very, very nicely that the information necessary to complete the audit is not available and describe the circumstances.
Guest b2kates Posted June 2, 2003 Posted June 2, 2003 I suggest someone start aggressively trying to recompile the information. Seems like a fiduciary breach of duty not to maintain the information or records.
E as in ERISA Posted June 3, 2003 Posted June 3, 2003 I don't disagree with b2kates. I'm assuming that you have already done that and failed? If so, then you're stuck with my suggestion. (I believe that it has worked before -- although I don't have firsthand knowledge of that).
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