Compliance Request FAQ
- General
- Census and Payroll Summary
- Non-Discrimination Testing vs. Audit Testing
- Annual Questionnaire and Fee Schedules
For more answers with examples, download a copy of our example help file for help with Censuses, Annual Questionnaires, or Payroll Reports.
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Why is compliance testing required?
Every year, the Employee Retirement Income Security Act (ERISA) requires employers to undergo non-discrimination (aka compliance) testing to ensure that retirement plans benefit all the employees, not just business owners or highly-compensated employees. These tests measure the participation levels of both of these groups to make sure all employees have equal access to and awareness of a company’s retirement plan.
Failing to meet IRS standards can mean fines and penalties and plans that do not remedy testing failures may lose their qualified plan status.
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Who can I contact for further assistance?
Any concerns can be emailed to plansupport@tagresources.com. Our team dedicated to data collection and reconciliation issues will reach out and ensure the problem is properly addressed.