Cynchbeast Posted January 16, 2020 Posted January 16, 2020 We had a large plan client that stopped communicating with us and stopped filing 5500s several years ago. Now they have contacted us to bring the plan up to date. This will mean DFVC filing for 7 years (thru 2019) - all large plan 5500. Q: Do they need a separate audit for each year or can they use one comprehensive audit for 01/01/13 through 12/31/19?
ESOP Guy Posted January 16, 2020 Posted January 16, 2020 Every time we have something like this it was an audit per year. I doubt a CPA would issue a 12/31/13- 12/31/2019 report anyway. Bill Presson 1
Bill Presson Posted January 16, 2020 Posted January 16, 2020 It's an audit per year. William C. Presson, ERPA, QPA, QKA bill.presson@gmail.com C 205.994.4070
James M. Moyna Posted January 22, 2020 Posted January 22, 2020 A separate audit is required for each year. As a specialty CPA firm (performing plan audits only) we have dealt with this issue in the past. Happy to help if there is interest. James.moyna@jmoynacpa.com
david rigby Posted January 22, 2020 Posted January 22, 2020 On 1/16/2020 at 2:49 PM, Cynchbeast said: We had a large plan client that stopped communicating with us and stopped filing 5500s several years ago. Now they have contacted us to bring the plan up to date. Get paid in advance! Belgarath and Bill Presson 2 I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.
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