BenefitsLink Message Boards > 1st plan year, Only asset is Contr. Rec'v. Audit required?

Full Version: 1st plan year, Only asset is Contr. Rec'v. Audit required?

BenefitsLink Message Boards > Employee Benefits in General > Form 5500

Richard Anderson

Nov 8 2004, 07:54 PM

This is a new plan with over 100 participants. At the end of the first plan year (12/31/04) the only plan asset will be the employer contribution receivable.

Will an audit be required? This first plan year is not a short year.

Thanks.

Archimage

Nov 9 2004, 08:44 AM

There is no exception that I am aware of for a full plan year. Have to get an audit.

Katherine

Nov 9 2004, 05:00 PM

That is also my understanding -- even if the receivable did not exist.

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