Pinnacle Plan Design is a third party administrator (TPA) of employer-sponsored qualified retirement plans. We are proud to offer retirement plan administration services in Cleveland, OH (Ohio), as well as nationally. Pinnacle specializes in retirement plan design, administration and actuarial consulting.
Retirement Plan Audits
Generally, federal law requires employee benefit plans with 100 or more participants to have a retirement plan audit as part of their obligation to file an annual return. (Click here to learn about the DOL small plan audit waiver.)
If your plan requires an audit, do not panic! Being prepared and knowledgeable will help you throughout the audit process.
Finding an auditor:
If the employee benefit plan is required to have an audit, the Plan Administrator must hire an independent qualified public accountant to perform the retirement plan audit. The plan auditor must be independent and should not have any financial interests in the plan (or the plan sponsor) that would affect their ability to render an objective, unbiased opinion.
The American Institute of CPAs (AICPA) has an Employee Benefit Plan Audit Quality Center (EBPAQC), which is a national voluntary membership center for CPA firms that audit employee benefit plans.
Click here to find firms that belong to the EBPAQC. This is a great place to start if you are looking for a qualified audit firm. Consider the firm’s experience, the expertise of their audit professionals and peer reviews before you make a final auditor selection.
Contact: Third Party Administrator Cleveland
At Pinnacle Plan Design, we strive to ensure that all of our clients’ plans are audit-ready.
Pinnacle Plan Design is proud to offer retirement plan administration services in Cleveland, OH (Ohio), and surrounding areas including Avon Lake, Bay Village, Beachwood, Brunswick, Chagrin Falls, Cleveland Heights, Euclid, Fairview Park, Garfield Heights, Independence, Lakewood, Maple Heights, Mayfield Heights, Mentor, Middleburg Heights, North Olmsted, North Royalton, Parma, Rocky River, Strongsville, Shaker Heights, Solon, Twinsburg, and Westlake.