Employee Benefit Plan Audit Services

Employee Benefit Plan Audits That Help You Stay Compliant

Employee benefit plan audits are more than an annual requirement. They’re an opportunity to identify compliance issues early, reduce administrative burden, and keep your plan on track.

Payne Nickles provides ERISA employee benefit plan audit services for organizations that sponsor qualified retirement plans. We work proactively with plan sponsors and third-party administrators (TPAs) to streamline the audit process and help you meet Department of Labor (DOL) requirements with greater clarity.

Talk With Our Employee Benefit Plan Team

Employee Benefit Plan Challenges We Help Solve

Managing an employee benefit plan becomes more complex as your organization grows.

We help organizations navigate:

  • Required ERISA audits
  • Form 5500 filing deadlines
  • Plan document compliance
  • TPA coordination
  • HR and payroll administrative burden
  • Operational errors and voluntary corrections
  • Evolving retirement plan regulations

Plans We Audit

Payne Nickles provides audit services for a variety of ERISA-qualified employee benefit plans, including:

  • 401(k) Plans
  • Employee Stock Ownership Plans (ESOPs)
  • Pension Plans
  • Profit Sharing Plans
  • Health & Welfare Plans
  • Safe Harbor Plans

How We Help Plan Sponsors

Employee Benefit Plan Audits

Independent ERISA audits performed in accordance with DOL and AICPA standards.

TPA Coordination

We work directly with your third-party administrator to gather documentation and minimize requests to your internal team.

Compliance Review & Operational Guidance

We identify operational issues, discuss potential correction options for management’s consideration, and help ensure your plan is administered according to its governing documents.

Regulatory Guidance

We help you understand new retirement plan requirements and prepare for regulatory changes.

Why Organizations Choose Payne Nickles

A Proactive Audit Process

We begin planning early to reduce last-minute requests and help clients avoid filing deadline stress

Reduced Administrative Burden

By coordinating directly with your TPA, we simplify the audit process and reduce demands on your HR and payroll teams.

Compliance-Focused Guidance

Our team helps identify operational issues early and works with you to resolve them before they become larger compliance concerns.

AICPA Employee Benefit Plan Audit Quality Center Member

Payne Nickles is a member of the AICPA Employee Benefit Plan Audit Quality Center, giving our team access to specialized resources, training, and the latest audit guidance.

Let’s Talk About Your Employee Benefit Plan

Whether you’re preparing for your first required audit or looking for a more proactive audit partner, Payne Nickles can help simplify the process while supporting your long-term compliance goals.

Contact Our Employee Benefit Plan Team

When is an employee benefit plan audit required?

Generally, employee benefit plans with 100 or more participants with account balances (subject to the 80-120 rule) are required under ERISA to obtain an independent audit as part of the annual Form 5500 filing. Payne Nickles can assist with determining whether your plan meets the audit requirement criteria.

What information will you need from our company?

We work directly with your third-party administrator whenever possible to gather much of the required audit documentation. Typically, we only need payroll and employee information directly from your internal team.

What happens if compliance issues are identified?

If operational errors or compliance issues are discovered, we work with you and your TPA to discuss appropriate corrective actions for management’s consideration. In many cases, voluntary correction programs allow issues to be resolved before they become more significant regulatory concerns.

Can you help if we’re approaching the 100-participant threshold?

Yes. Organizations nearing the audit threshold often benefit from planning ahead. We can help you understand upcoming audit requirements, if any, and prepare your processes before an audit becomes mandatory.

Do you only perform employee benefit plan audits?

No. Many of our employee benefit plan audit clients also rely on Payne Nickles for financial statement audits, tax services, and advisory support, allowing us to provide coordinated guidance across multiple aspects of their business.

Frequently Asked Questions

When is an employee benefit plan audit required?
Generally, employee benefit plans with 100 or more participants with account balances (subject to the 80-120 rule) are required under ERISA to obtain an independent audit as part of the annual Form 5500 filing. Payne Nickles can assist with determining whether your plan meets the audit requirement criteria.
What information will you need from our company?
We work directly with your third-party administrator whenever possible to gather much of the required audit documentation. Typically, we only need payroll and employee information directly from your internal team.
What happens if compliance issues are identified?
If operational errors or compliance issues are discovered, we work with you and your TPA to discuss appropriate corrective actions for management’s consideration. In many cases, voluntary correction programs allow issues to be resolved before they become more significant regulatory concerns.
Can you help if we're approaching the 100-participant threshold?
Yes. Organizations nearing the audit threshold often benefit from planning ahead. We can help you understand upcoming audit requirements, if any, and prepare your processes before an audit becomes mandatory.
Do you only perform employee benefit plan audits?
No. Many of our employee benefit plan audit clients also rely on Payne Nickles for financial statement audits, tax services, and advisory support, allowing us to provide coordinated guidance across multiple aspects of their business.
Get updates sent to your inbox.
Sign up today to receive a free consultation or sign up for our editor's newsletter.
Subscribe
Back to Top   back to top icon