Reporting

The Internal Revenue Service audits all types of qualified plans. Employers should maintain policies and information to demonstrate compliance, if an audit occurs.

Employers should maintain plan documents and operational procedures and information. For a detailed list of documents to maintain, visit our Regulations and Compliance page.

Activity Reports

We provide activity reports to the employer as requested and or in the event of an audit. These reports include:

Year-to-Date

• Contributions – Total amount of all contributions made by participants of the Plan to respective approved providers in a given calendar year.
• Distribution information – Total amount of distributions made to Plan participants from providers during a given calendar year.
• Hardship – Total amount of hardship distributions made to 403(b) Plan participants from providers during a given calendar year.
• Loans – Total amount of loans taken by all Plan participants during a given calendar year.

Asset Account Balance

• By provider – Total of all account balances, by provider, of all Plan participants.
• By participant – Total of all account balances, by participant, of all providers of the Plan.