Audits of 401(k) Plans

 

Exhibit A-1 Examples of Form 5500 Schedules Required by the Regulations [Not Permitted If Filing By the Statutory Method]

Form 5500 requires that certain supplemental schedules be attached to the annual Form 5500 filing using Form 5500 series and not Form 5500-SF or 5500-EZ.

Information on all delinquent participant contributions should be reported on line 4a of either Schedule H or Schedule I of Form 5500, and should not be reported on line 4d of Schedule H or I or on Schedule G. Beginning for 2009 plan years, large plans with delinquent participant contributions should attach a schedule clearly labeled, “Schedule H, line 4a—Schedule of Delinquent Participant Contributions,” using the following format.

Participant Contributions Transferred Late to Plan	Total That Constitute Nonexempt Prohibited Transactions			Total Fully Corrected Under Voluntary Fiduciary Correction Program (VFCP) and Prohibited Transaction Exemption 2002-51
Check Here If Late Participant Loan Repayments Are Included	Contributions Not Corrected	Contributions Corrected Outside VFCP	Contributions Pending Correction in VFCP

Participant loan repayments paid to or withheld by an employer for purposes of transmittal to the plan that were not transmitted to the plan in a timely fashion must be reported either on line 4a in accordance with the reporting requirements that apply to delinquent participant ...