S E R V I C E S

Employee Benefit Plans

Our Employee Benefit Plan team provides timely, knowledgeable insights to help mitigate risks while also adhering to DOL audit regulations.

The Department of Labor (DOL) Employee Retirement Income Security Act (ERISA) regulations require an annual audit of certain employee benefit plans. The audit report is then filed with Form 5500 and submitted to the DOL.

Employee Benefit Plan audits have become increasingly complex due to changing regulations and financial reporting requirements. Your Employee Benefit Plan needs an audit team that has a thorough understanding of these filing requirements and complexities.

The BSB Employee Benefit Plan team is that team.

Employee Benefit Plan Audit Services
  • 401(k) plans
  • 403(b) plans
  • Profit sharing plans
  • Pension Plans
  • Safe Harbor 401(k) Plans
  • Multiple – Employer Plans
  • Prevailing Wage (Davis-Bacon) Plans
Additional Services
  • Documentation and explanation of operational compliance issues
  • Consultation on Correcting Identified Noncompliance Issues
  • DOL representation
  • AICPA Employee Benefit Plan Audit Guide-Based Work
  • Form 5500 filing
  • 401(k) CPE Opportunities

Leadership

Led by BSB Partner, Kevin Hamaker, our knowledge of generally accepted accounting principles combined with current ERISA requirements enables us to provide educated insights, to help mitigate risks while adhering to regulatory requirements. Our careful approach results in a timely audit and filing of Form 5500s with minimum stress.

BSB_2023 Year End Tax Planning for Businesses

2023 Year End Tax Planning For Businesses

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It is important that businesses and business owners review your tax and financial plans at year end. While there has been minimal tax legislation passed, the potential for change is…
BSB_2023 Year End Tax Planning for Individuals

2023 Year End Tax Planning for Individuals

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As we wrap up 2023, it’s important to take a closer look at your tax and financial plans and discuss steps to reduce taxes and help you save for your…
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Latest Tax Changes from Virginia Department of Taxation’s September Special Session

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The Virginia Department of Taxation recently released their updated 2023 Legislative Summary, which details the state and local tax legislation enacted during the 2023 Special Session held on September 6,…

Virginia Switches to Rolling Conformity Beginning With Tax Year 2023

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On April 12, following a special one-day reconvene session of the Virginia General Assembly, Gov. Glenn Youngkin signed S.B. 1405 to change Virginia’s method of conformity with the Internal Revenue…