401k audit - Detailed sample selections

A typical 401k audit consists of sampling transactions flowing through the Plan.  For each transaction stream, you will be provided with specific information (such as exact participants) where you will be asked to gather the following information:


  • Hire date
  • Birth date
  • Term date (if applicable)
  • Enrollment form (if applicable)
  • Opt out form (if applicable)


  • Final payroll register(s) of year showing YTD information (gross pay, total deferral, etc)
  • Payroll register for one payroll period that will allow us to recalculate various items (may be same register as noted above)
  • W-2's
  • Something outside of the payroll system documenting the participant's current pay rate
    • Example would be a written notice, etc.
  • Signed enrollment forms

Benefit testing:

  • Request for distribution form
  • Reason for distribution (i.e., termination, retirement, hardship, death benefit, etc.)
  • Hire date (N/A if all contributions are always 100% vested)
  • Termination date (N/A if all contributions are always 100% vested)
  • Copies of canceled check (both sides)
  • W-4 (or alternative documentation) - something documenting the person was employed
  • Spousal consent (if applicable)

Rollover testing (if applicable):

  • Signed enrollment form
    • Something showing participants investment allocations (by fund) if enrollment form is electronic
  • Copy of cancelled check (record keeper should retain to prove transfer is coming from another qualified plan)

Remittance testing (to show deferrals being remitted timely):

  • Access to the following payroll registers (or copies of final pages of payroll that show these deferral amounts):

Loan testing (if applicable):

  • Signed loan request form (showing spousal consent if applicable)
  • Amortization schedule
  • Copy of canceled check (both sides)
  • Value of vested account balance at inception of loan

Investment Allocation Testing:

  • Election forms (or change logs) that show how the participant's chose to have their deferral allocated (i.e., the % going into each mutual fund) as of the payroll date indicated


  • Copy of invoice, agreement, etc.

This sample request should be all-inclusive - meaning you can cross off the items as you give them to us.  When you have given us all of these items, your remaining time commitment on the audit is minimal.

Click to request a no obligation quote today that may save you thousands of dollars on your next employee benefit plan audit! 


Tax Due Dates