Short Plan Year, Deferral of Accountant's Report

[Guest mtrice]

A single employer 401(k) plan is changing its plan year end from 11/30/XX to 12/31/XX. I was wondering if there was any guidance or examples of financial statements in conformity with the provisions DOL regulations 29 CFR 2520.104-50 for short plan years, deferral of accountant's examination and report.

These are some variables to keep in mind.

• Prior year required an audit & current year will as well.
• Audit is a DOL Limited Scope Audit.
• Prior years Financial Statements were dual year
• Plan's trustee & Administrator will remain the same

[Flyboyjohn]

No benefit from delaying the audit for the 1 month short year until the next 12 month full year audit (in fact you may pay more since the pesky accountants may increase their fees).

I would recommend engaging the CPA to do both the 11/30/XX full year and 12/31/xx short year audits at the same time and get them both out of the way at the same time.