Employee Benefit Plan Audits
Davide Villani Promoted to Managing Director
AAFCPAs is pleased to announce that Davide Villani, CPA, CGMA has been promoted to Managing Director in recognition of his technical leadership in the employee benefit plan practice and his service excellence to the firm’s clients. Many of you know and have experienced Dave’s significant contributions to AAF clients since joining the firm in 2002. […]
DOL Urges Businesses to Select a Qualified Benefit Plan Auditor, Such As AAFCPAs
The US Department of Labor reminds businesses who filed a Form 5500 with audited financial statements of the importance of selecting a qualified CPA firm with expertise in ERISA standards. This email is in response to results published in a recent DOL audit quality study, which found “serious problems with nearly 40% of employee benefit […]
AAFCPAs Manager, Davide Villani, CPA named co-chair of MSCPA ERISA Committee
AAFCPAs is excited to announce that Davide Villani, CPA has been nominated to serve as co-chair of the MSCPA ERISA Accounting & Auditing Committee. The ERISA Accounting & Auditing Committee is a forum for ERISA professionals to share best practices relating to improving the overall quality of ERISA/DOL audits including: 401K, 403B and Health & […]
Watch out for letters from the IRS if you have a 457(b) plan
The IRS plans to send letters out over the next year to seek compliance information about 457(b) plans sponsored by nonprofits. Nonresponse to these letters may be inviting an audit by the IRS. 457(b) plans are often referred to as “top hats” due to the fact that they may only be offered to high-wage earners, […]
Do you have a Pension Plan? If so, you may need to file an IRS Form 8955-SSA
If you file a Form 5500, you should be aware of the following regulations Separated participants with deferred vested benefits are required to be reported on Form 8955-SSA The IRS filing is due 7 months after the plan year-end. For example, if you have a 12/31/11 year end, it will be due by 7/31/12 Should […]
Update to IRS Form 8955-SSA
If you file a Form 5500 for a retirement plan, you should be aware of changes to the old SSA schedule to report participants who have separated from service covered by the plan, and who retain a deferred vested benefit in a retirement plan. Since the 2009 tax year, IRS Form 5500 was required to […]