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Avoiding the Plan Audit Requirement During a Short Plan Year
BenefitsLink Message BoardsLink to more items from this source
Apr. 20, 2021

"401(k) plan with over 100 participants was audited by a CPA firm for the 12-month plan year ending on 3/31/2020. Plan sponsor then changed the year end to September, creating a short plan year that began 4/1/2020 and ended 9/30/2020. Can that short year's audit be put delayed, per 29 CFR 2520.104-50, and be included with the audit for the 12-month plan year beginning on 10/1/2020 that ends on 9/30/2021? I think so. Agree?"

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