Retirement Plan Compliance

We are here to review, discover and resolve any compliance issues you may face with your qualified retirement plan.

We understand it can be difficult to interpret a plan document’s language and you want to ensure that it is followed accurately. We provide ongoing consulting to help explain the various nondiscrimination tests required to maintain the compliance of your plan.

5500 Issues

We can help if your Form 5500 is either not filed or is filed late using the available regulatory correction programs.  We work with you to ensure that your annual filings are timely submitted in the most efficient manner possible.

ERISA Consulting and Compliance

We understand how hard it can be to keep abreast of regulatory and legislative developments related to your qualified retirement plan. As ERISA consultants, we are dedicated to keeping you informed and will: 

• Update plan documents in accordance with regulation changes
• Provide consulting and support during and after plan establishment
• Perform compliance and nondiscrimination testing
• Assist with employee participation determination
• Provide representation on your behalf with the IRS and DOL
• Prepare and file Form 5500 and other regulatory filing requirements

IRS and DOL Compliance

Although Falcone & Associates is not a law firm, we can guide you through the IRS and DOL requirements and correction programs. Our job is to help bring your plan back into compliance should something ever need to be corrected.

In the event you have a need for legal assistance we can help you find support from our network of trusted firms.

Maintaining the “qualified” status of your plan is critical to its value to both your business and your employees by allowing for tax deductible contributions that can grow account values over time. Distributions from a “qualified” plan can be rolled over to an IRA or another “qualified” retirement plan, enabling them to continue to grow tax deferred.

IRS Audit

Nobody likes being audited, however there may come a time when your plan is randomly selected for one by the IRS. We will work with you to ensure you are in compliance with the Internal Revenue Code and assist with the preparation for your audit. Further, we will represent you on behalf of the work that we have performed for your plan so that you do not need to engage another professional.

Employee Education

Helping your employees understand the benefits of participating in your qualified retirement plan is not only beneficial to you but to them as well. We provide resources and in-person meetings and ongoing support to help explain how plan participation is vital to their future in retirement.

We provide your employees with the following:

• Summaries that explain how your plan operates
• Communications regarding the importance of participation
• Easy to understand regulatory information
• Statements presenting the activity in their accounts