401k Annual Audits: Anticipating Serious and Costly Errors, Evaluating Alternative Solutions

Recording of a 110-minute CPE webinar with Q&A

Conducted on Tuesday, December 1, 2015

Recorded event now available

or call 1-800-926-7926

This course will provide employee benefits administrators, auditors and plan sponsors with best practices to prevent serious and costly errors in preparing for 401k audits. The panel will explain the pitfalls that practitioners often encounter in these audits and outline how to address these issues based on real-world experiences.


Proficiency in administrating and auditing 401k plans requires staying on top of a myriad of ever-changing IRS and DOL rules and regulations. A 401k plan with more than 100 eligible participants must file audited financials along with Form 5500, which are closely scrutinized during DOL audits.

Benefit audit professionals and advisors must know the red flags for the IRS and DOL in a Form 5500 before filing—and be able to identify problems in prior filings to get ahead of any issue with the IRS with appropriate amendments.

Our panel of veteran professionals, all well versed and experienced with 401k audits, will provide you a road map to avoid costly mistakes. The panel’s experiences and solutions will help you increase your accuracy in filing, take action to correct prior errors, and prepare for and get through these audits.

Listen as our panelists offer best practices and insights based on real-world experience for avoiding common high risk mistakes associated with 401k audits. The panel will also outline approaches to identify and correct plan errors before an audit or after a filing.



  1. 401k plan audit overview
    1. Relevant forms and regulations
  2. Form 5500
    1. 401k plan rule issues
  3. Challenges to anticipate
    1. Common plan operation errors
      1. Denied Form 5500
    2. Potential fixes for errors
  4. Best practices for audit preparation
    1. Benefit plan audit experiences


The panel will address these and other key issues:

  • Understanding the areas of highest risk in 401k audits
  • Identifying and avoiding the most common mistakes in 401k audits
  • Implementing expedient solutions to the most common 401k or filing mistakes after the fact
  • Pinpointing Form 5500 red flags for the IRS and DOL


Nathan Carlson
Nathan Carlson

Retirement Planning Services

Mr. Carlson has more than 30 years of experience in benefit plan administration. His company focuses on retirement...  |  Read More

David M. Kahn
David M. Kahn

Managing Member
ERISA Compliance Consulting Services

Mr. Kahn is an expert with respect to the standards that are required to be complied with by ERISA covered...  |  Read More

Joanna C. Kerpen
Joanna C. Kerpen

McDermott Will & Emery

Mrs. Kerpen focuses her practice on a variety of employee benefits tax and ERISA matters related to 401(k) plans,...  |  Read More

Brian A. Benko, Esq.
Brian A. Benko, Esq.

McDermott Will & Emery

Mr. Benko advises clients on a variety of employee benefits matters related to qualified retirement plans, executive...  |  Read More

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