401k audit - Initial request list

Listed below (sorted by priority) is a preliminary 401k audit request list of items necessary to select samples for your upcoming employee benefit plan audit.  Later, detailed samples will be provided with detailed instructions on the documents necessary for each of our testing areas (i.e., eligibility, contributions, distributions, etc.).  Where possible, please have the following delivered in an electronic format:

  • Please request a certified copy of the year-end reporting package to be sent directly to:

Dufek & Company, LLC

55 E. Monroe, Suite 3800 - Chicago, Illinois  60603
or...  200 South Executive Drive, Suite 101 - Brookfield, Wisconsin 53005

  • Copy of Participant statements as of 12/31 (detail of activity for the year in each participant's account).
  • Copy of year end non-discrimination compliance testing results.
  • Reconciliation of contributions (deferrals) from the year-end payroll to the year-end reporting package.    This is showing that all amounts withheld were remitted to the trust.
  • Schedule of employee deferrals (employee contributions) showing each payroll date and date the deferrals were remitted to trust.
  • SSAE 16 Internal Control Reports for the following service providers:  (1) record keeper, (2) payroll provider.

The SSAE 16 report (formally known as a SAS 70 )is an audit report on the effectiveness of internal controls in place. 

  • Copy of current year's Form 5500. 
  • Copy of fidelity bond insuring plan assets (a/k/a fiduciary insurance or crime policy).

1st year requests:

  • Copy of Official Plan Document.
  • Copy of any Plan Amendments and any pending changes to the Plan.
  • Copy of most recent IRS Determination Letter.
  • Copy of Agreement with Service providers (i.e., record keeper, custodian, investment advisor, etc.).
  • Copies of any correspondence from the IRS or DOL (past or present).
  • Copies of minutes from Board of Director or Committee meetings that relate to the Plan.

Using the information above, sample selections are selected for the detailed testing that takes place at your office.



Tax Due Dates