Large Plan Audit

[KateSmithPA]

Employer has 2 plans; a profit sharing plan and a separate 401(k) plan. The plans are aggregated for testing.

There are more than 100 participants in the 401(k) plan but fewer than 100 participants in the profit sharing plan.

We know the 401(k) plan must include an audit with the 5500. Because the plans are aggregated for testing, does the profit sharing plan also require an audit?

Thank you.

[WDIK]

If the profit sharing plan is filing Schedule I, follow the audit rules for small plans (i.e. exempt if sufficient qualifying assets or appropriately bonded, etc.)