Salt Lake City Employee Benefits Plans

Trusted Employee Benefit Plan Audits in Salt Lake City, UT

Name: Haynie
Address: 1785 W 2300, S Salt Lake City, UT, 84119, US
Telephone: (801) 972-4800

Your employees’ benefits are one of the most important parts of their compensation, which is why the audit behind them needs to be accurate, reliable, and efficient. Haynie’s Salt Lake City team has spent decades building the accreditations and industry recognition to back that up. We’ll work closely with you to:

Build Trust: Assure your employees that their benefits are secure and well-managed.
Minimize Risk: Identify and address potential compliance issues and errors.
Streamline Processes: Simplify your benefit plan administration.

As members of the AICPA’s Employee Benefit Plan Audit Quality Center (EBPAQC), our CPAs stay ahead of industry trends and regulations. We’re here to help you meet your financial goals and protect your business.

Two women in an office reviewing documents together, one holding a folder.

Audit Services for Employee Benefit Plans

Ensuring the accuracy and compliance of your employee benefit plans is crucial. Our team offers a comprehensive range of audit services to meet your specific needs. Browse our service offerings below:

401(k) Plans

Ensure compliance with ERISA and IRS regulations for retirement savings plans, including contributions, distributions, and investment options.

Defined Benefit Plans

Verify the accuracy of pension plan valuations and funding obligations, as well as compliance with ERISA and IRS rules.

Defined Contribution Plans

Validate the administration and investment performance of these plans, including participant contributions, employer matching contributions, and investment choices.

Health & Welfare Plans

Assess the financial health and compliance of health insurance and other welfare benefit plans, including COBRA, HIPAA, and Affordable Care Act requirements.

Taft-Hartley Collectively Bargained Plans

Conduct audits of union-negotiated benefit plans, ensuring compliance with ERISA and IRS regulations.

Apprenticeship Programs

Verify the proper administration of apprenticeship training programs, including participant eligibility, training hours, and wage requirements.

Vacation and Savings Plans

Ensure compliance with federal and state regulations for these plans, including accrual, payout, and tax implications.

Scholarship Programs

Validate the eligibility and disbursement of scholarship funds, ensuring compliance with IRS rules and program guidelines.

Cafeteria Plans

Assess the administration and tax implications of flexible spending arrangements, including eligibility, contribution limits, and reimbursement procedures.

ERISA Consulting Services

Provide expert advice on ERISA compliance and fiduciary responsibilities, including plan design, document preparation, and ongoing compliance monitoring.

Full Scope Audits

Comprehensive audits covering all aspects of a plan, including financial statements, participant data, and plan operations.

ERISA Section 103(a)(3)(C) Audits

Focused audits on specific areas of a plan, such as participant contributions, investment performance, or plan administration.

Plan Termination Assistance

Guide you through the complex process of terminating a plan, including distribution of plan assets, filing required forms, and meeting IRS deadlines.

Payroll Audit Services

Verify the accuracy of payroll calculations and tax withholdings, ensuring compliance with federal, state, and local tax laws.

Haynie can also help your human resources department comply with any audit requirements. Our consistency in satisfying client businesses throughout the greater Salt Lake City area and beyond speaks for itself. Don’t let complex regulations and compliance burdens hinder your business. Reach out to us today to learn how we can help you navigate employee benefit plan audits.

Employee Benefits Plan Audit FAQs

Why are employee benefit plan audits important?

Regular audits help ensure compliance with federal regulations, such as ERISA, and protect your organization from potential penalties. By identifying and correcting errors early on, we can help safeguard your plan’s assets and maintain its integrity.

How often should I have my employee benefit plan audited?

This depends on specific plan requirements and regulatory changes. However, annual audits are often recommended to maintain compliance and identify potential issues promptly. Our team at Haynie & Company can assess your specific needs and recommend an appropriate audit schedule.

What can I expect during an employee benefit plan audit?

During an employee benefit plan audit, our CPAs will conduct a thorough review of your plan’s documentation, financial records, and participant data. We will also assess your plan’s compliance with applicable laws and regulations. Our goal is to identify any potential issues and provide recommendations to improve your plan’s administration.

Contact Haynie for an Employee Benefits Package Consultation

A company’s employee benefits plan is one of the most critical factors in attracting top-tier talent. Haynie’s expert CPAs help you maintain your plan’s qualified status. Contact our firm in Salt Lake City today at (801) 972-4800 or through our online form to schedule an initial consultation.