31 minutes | Oct 5th 2020

401K Related Penalties

“As the employer, you have a lot of say in what happens to your employees. You hold a lot of control over an individual, and now their retirement is entrusted in you.” - Kim Moore 

 

The finer details in this episode:

  • The difference between the sponsor, trustee, and administrator 
  • What your responsibilities are if you are a plan sponsor, trustee, or administrator 
  • The different penalties or fines you could possibly face related to your 401k plan 
  • Areas of the 401k plan where you want to pay extra attention 
  • Options you have when you are facing fines 

 

Episode resources

  • Summit CPA website - www.Summitcpa.net    
  • Email us with questions - audit@summitcpa.net