Audit or no audit

[JKW]

I am questionning whether or not a 401l plan still needs an audit.

I have a plan who had an audit in 2008 and previous years, for the 2009 plan year they have only 93 participants at the beginning of the year. The plan merged with another plan in 2009 so all that assets were transferred out by 12/31/09. So 2009 would be their Final 5500. Should this plan still have an audit for 09?

[Mike Preston]

I'm not sure so don't take this for gospel, but doesn't it depend on what form is filed? And I'm not sure how to interpret the word "should". Do you mean in the context of if they don't they have a definitive problem? Or do you mean in the context of since it had an audit the last few years would it be a "good thing" for them to continue even if they don't have to?

If the plan is eligible to file the form that doesn't require the audit, I would think there is no audit required.