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?
- Were hardship distributions made properly?"
