Common remitter service is one of the specialized functions Goldleaf Partners provides for retirement and employee benefit plans.
Streamlining payroll processes with multiple vendors
Our common remitter service includes consolidating payroll contributions from various locations, depositing the payroll proceeds, and forwarding those proceeds to the investment provider. Best candidates for this service include:
When the IRS performs an audit, they find the answers to these questions for many businesses are “NO”. By simply letting Goldleaf Partners handle retirement and payroll plans, clients can rest easy knowing their answers are “YES”.
Is the plan definition of compensation for all deferrals and allocations used correctly?
Were employer matching contributions made to appropriate employees under the plan terms?
Were all eligible employees identified and given the opportunity to make an elective deferral?
Do participant loans meet the plan document and IRC Section 72(p) requirements?
Are elective deferrals limited to the IRC Section 402(g) limits for the calendar year?
Were employee elective deferrals deposited in a timely manner?