GMN International | International Accounting Association | Does my employee benefit plan require an audit?

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Does my employee benefit plan require an audit?

It is always exciting when your company is quickly growing and hiring new employees.  However, if you have an employee benefit plan, this increase in employees can result in your plan requiring audited financial statements.  If your employee benefit plan has 100 or more participants, it is considered a "large" plan, which requires an annual audit (performed by an independent qualified public accountant) as part of the Employee Retirement Income Security Act (ERISA), through the filing of the annual report Form 5500.  There are certain exceptions to these rules that will need to be considered.



Click here to download and read this Silver Advantage Accounting Alert from our member firm in Chicago, Michael Silver & Co.


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