Employee benefit plan financial and tax reporting is special to our professionals who specialize in it.
Employee benefit plans remain an important part of most companies’ total employee compensation package. Complying with the federal rules issued by the IRS and the Department of Labor related to these plans is key as noncompliance can expose the company plan sponsor and its fiduciaries to significant fines and penalties. With that in mind, many companies turn to GH&I’s knowledgeable accounting professionals to assist them with their benefit plan’s financial and tax reporting needs.
Considered a specialized area of practice, accounting professionals keep current with the latest rules and regulations guiding plans as well as hot button issues of the Employee Benefits Security Administration (EBSA), the Internal Revenue Service (IRS) and those of other regulatory agencies. GH&I is further a member of the American Institute of Certified Public Accountants Employee Benefit Plan Audit Quality Center (EBPAQC), a firm-based voluntary membership resource center for eligible CPA firms that audit employee benefit plans.
Services
- Attestation, including audits and reviews
- Accounting assistance
- Form 5500 preparation
Comprehensive audit approach of high-risk areas
- Eligibility
- Participation
- Distributions
- Vesting
- Compliance
Plans
- Profit sharing
- Employee stock ownership
- Defined benefit
- 401(k)