Читать книгу Auditing Employee Benefit Plans - Josie Hammond - Страница 44

The benefit and plan structure intended by the plan sponsor must be practiced in form. If more than one type of benefit is offered under the same plan, then the plan should be written accordingly. If benefits are to be offered under separate plans, it should be remembered that the reporting and filing requirements apply to each plan. Benefits do not stand-alone. They must be contained within a plan. The audit requirement, like the Form 5500 filing, is based on plan definition, with some exceptions, covered in the following exhibit under plan entities. Generally, only one plan at a time, pension or welfare, can be covered by a Form 5500. Proper reporting requires a complete understanding of the plan and benefit structure.

The following 3 exhibits outline unique audit considerations by plan type, tax considerations in an employee benefit plan audit and provide a quick reference chart for Form 5500.