10 mistakes that could trigger a 401(k) plan audit

Benefit professionals, at a minimum, should take the time now to sit down with outside ERISA counsel and plan an internal audit to ensure that their plans are in compliance, says Heidi L. Lamarca, a principal and practice leader for Windham Brannon, a chartered professional accounting firm. She outlines 10 red-flag risk areas that often draw the DOL’s attention and could trigger an audit of your 401(k) plan.

Some employees may be enrolled too early or too late — or forgotten altogether, which can be the case with employees working at another corporate affiliate or division.