DOL AUDIT

Are You Prepared For a DOL Audit of your company benefit plans? Has the Internal Revenue Service contacted you for a review? The Department of Labor (DOL) has significantly increased their resources and staffing for performing additional investigations and audits. Here’s why you might be singled out for an audit:

• A participant complained about possible ERISA violations.
• The IRS or SEC referred a case to the DOL.
• The DOL used its National Enforcement Project to pick low-hanging fruit regarding audits.
• Form 5500 filings were incorrect or incomplete.

Navigate the complexities of DOL audits and IRS examinations with our expert guidance—partner with us to safeguard your business from future audits and ensure compliance with confidence.

We can help with your DOL audit and IRS examination or work with us to help keep your business from being the target of future audits.

Our audit services offer a wide range of help that includes:

• Comprehensive compliance review and report.
• Benefit plan compliance audits and reviews.
• Review of your current plans filings.
• Thorough analysis and explanation of the government’s data request letter.
• Negotiation of the scope of the information requested.
• Assistance in gathering all relevant information.
• Preparation of the material for the audit.
• Onsite interview preparation, if necessary.
• Presentation of the material to the auditor.
• Follow up and remediation of your case file.
• Ongoing services, education, and training.

A typical DOL audit can take up to two years and usually begins with a letter requesting an enormous amount of information and supporting documentation related to the Plan(s).

• Plan Document, Adoption Agreement, and any amendments.
• Summary Plan Description (SPD), including any changes in Plan benefits and entitlement to benefits.
• Summary of Material Modifications (SMM)
• All contracts with insurance companies for all health and welfare benefits.
• All records related to the Health Insurance Portability and Accountability Act of 1996.
• A copy of the Plan’s rules for eligibility.
• A sample of the certification provided to those employees who have just health care coverage or to be provided to those who may lose health care coverage under this plan in the future, which certifies creditable coverage earned under this plan.
• A copy of the written procedure for individuals to request and receive certificates.
• A copy of the Plan’s rules regarding medical/surgical and mental health benefits coverage, including information as to any aggregate lifetime and annual dollar limits.
• The Plan’s Newborns’ Act notice, including lists or logs of notices an administrator may keep of issued notices.
• A sample general notice of preexisting condition informing individuals of the exclusion period, the terms of the exclusion period, and the right of individuals to demonstrate creditable coverage (and any applicable waiting or affiliation periods) to reduce the preexisting condition exclusion period, or proof that the plan does not impose a preexisting condition exclusion.
• A copy of the written appeal procedures the Plan(s) established.
• Copies of the Plan’s three most recent health insurance billing invoices for each of the Plan’s service providers.
• Current participant census data.
• Information provided to employees to comply with the Genetic Information Non Discrimination Act (GINA).
• A multitude of other information depending upon the scope of the audit.

ERISA compliance is the law, and Benefits Compliance Consultants, Inc. is an ERISA expert. You can’t know everything there is to know about ERISA services. Let our highly skilled professionals help ensure your Plan complies with the law.

Don’t let the complexities of DOL audits overwhelm you. Our experienced team is here to guide you through every step of the process, ensuring peace of mind and compliance with all relevant regulations.