You May be Receiving a 401k Compliance Questionnaire

The IRS has been sending out questionnaires to randomly selected 401 (k) plan sponsors across the country. If you have received one of these letters you have 90 days to complete the online questionnaire.

The IRS has stated that any answers given are for informational purposes only and will not trigger any sort of action or audit.  But they have also stated that if selected, participation is mandatory and failure to respond will trigger further action.  What that action will be goes unstated, but sounds rather ominous.

If you have received a letter from the IRS, we strongly urge you to contact your third party administrator before responding.  Almost all will be willing to assist you with completing the questionnaire. For more information visit this IRS webpage.

For more information about 401 (k) audit compliance or if you have received a IRS questionnaire please call Maria Arriola at 714.569.1000.