Employee Benefit Plans
Employment benefit plans (EBP) have been a key focus area of our practice for many years. In this industry we provide EBP audit services for a wide range of plans sponsors, including country clubs, non-profit organizations, medical practices, real estate/construction companies, and other enterprises that need to comply with the reporting requirements of the Employee Retirement Income Security Act of 1974 (ERISA), the Department of Labor (responsible for enforcing the provisions of ERISA), and the Internal Revenue Service (IRS).
Through years of experience Holyfield & Thomas, LLC has developed an efficient methodology for working through the testing and compliance requirements related to EBP engagements.
If your organization’s employee benefit plan is required to have an audit, one of the most important duties of the plan administrator is to hire an independent certified public accountant that possesses the requisite knowledge and expertise necessary to perform the audit in accordance with professional standards. As a long standing and active member of the Employee Benefit Plan Audit Quality Center (EPBAQC) of the AICPA, Holyfield & Thomas, LLC maintains all licensing and educational credentials needed to address the unique aspects of EBP audits such as 401(k), 403(b), and defined benefit plans.
As an organization grows, so does its reporting requirements. If your organization has grown and now meets the reporting threshold, allow us to help guide you through the process. We have worked with many custodians and third party administrators and will help you gather the correct information to ensure that all reporting is filed timely and accurately.