Audit Readiness Checklist for Retirement Plan Sponsors

This resource helps plan sponsors understand the importance of maintaining complete and organized 401(k) plan records in preparation for a potential audit. It outlines the types of documents that should be retained—such as plan documents, amendments, payroll records, and contribution reports—and offers tips for staying audit-ready throughout the year. Being prepared not only ensures smoother audits but also helps demonstrate compliance with ERISA and IRS regulations. Keeping well-documented files can significantly reduce stress and the risk of penalties during an audit process.