Citing what it calls a “historical pattern of non-compliance,” the Internal Revenue Service has said it will intensify compliance reviews of most classifications of employer-sponsored retirement plans.
Specifically, the Employee Plans Team Audit, or EPTA division, will focus reviews of internal compliance controls for large plans, which the IRS defines as having at least 2,500 participants.
But it won’t just be larger sponsors that will be subject to increased scrutiny.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
