Employee Benefit Plan Audit Resources for Plan Sponsors
Employee benefit plan audits can create real pressure for plan sponsors, especially when participant counts, Form 5500 deadlines, documentation requests, payroll data, recordkeepers, TPAs, and regulatory expectations all converge at once.
LBMC created this resource library to help plan sponsors, finance leaders, HR teams, and plan administrators better understand employee benefit plan audit requirements, prepare for audit season, evaluate audit firms, and reduce compliance risk.
Whether you are approaching your first audit, managing a 401(k) or 403(b) plan, reviewing Form 5500 filing requirements, or evaluating a new audit provider, these resources are designed to help you make informed decisions before deadlines become urgent.
Featured Employee Benefit Plan Audit Guides and Checklists
Start with these practical resources if your organization sponsors a retirement plan, is approaching an audit threshold, or wants to strengthen audit readiness before the Form 5500 filing deadline.
Preparing for an employee benefit plan audit is easier when the process starts before audit season. This guide helps plan sponsors understand what to expect, which documents are commonly requested, how to coordinate with payroll providers, recordkeepers, TPAs, and advisors, and how to reduce last-minute audit disruption.
Use this guide if your plan is approaching its first audit, your team is unsure what documentation will be needed, or you want to create a more predictable annual audit process.
Best for
First-time audits, growing plans, HR leaders, finance teams, and plan administrators.
Not every CPA firm is built to perform employee benefit plan audits at a high level. This resource helps plan sponsors evaluate audit quality, industry specialization, responsiveness, technology, regulatory experience, and the risks of working with firms that treat EBP audits as a side service.
Use this guide when comparing audit firms, replacing an underperforming auditor, or reviewing whether your current audit process is creating unnecessary risk or administrative burden.
Best for
CFOs, controllers, HR executives, benefits leaders, and plan committees.
401(k) compliance issues often surface during the audit process, but many can be identified earlier with a structured review. This checklist helps plan sponsors assess common risk areas, including participant counts, eligibility, contribution timing, loan activity, Form 5500 readiness, internal controls, and correction considerations.
Use this checklist before audit season, before filing Form 5500, or when reviewing whether plan operations match the plan document.
Best for
401(k) plan sponsors, HR teams, finance teams, and plan administrators.
Audit Guidance by Plan Type
Different employee benefit plans create different audit and compliance considerations. LBMC’s employee benefit plan audit team works with plan sponsors across 401(k), 403(b), defined benefit, ESOP, health and welfare, and other benefit plan structures. The existing EBPA service page already positions LBMC around 401(k), 403(b), defined benefit, ESOP, health and welfare plans, Form 5500 support, and related filings.
Use the resources below to understand the issues most relevant to your plan type.
Resource links
401(k) Compliance & Audit Guide
A practical guide for plan sponsors managing contribution activity, participant counts, Form 5500 requirements, and audit preparation.
403(b) Plan Compliance & Audit Guide
Guidance for nonprofit, healthcare, education, and other sponsors managing 403(b) plan audit and compliance requirements.
Defined Benefit & Pension Plan Audit Guide
Guidance for sponsors managing defined benefit or pension plan audits, including actuarial coordination, funding considerations, and audit complexity.
Employee Benefit Plan Audit Requirements and Form 5500 Filing Resources
Many plan sponsors first look for help when they are unsure whether an audit is required or when the Form 5500 filing deadline is approaching. The challenge is that audit readiness is not only about the filing date. It also depends on participant counts, plan type, documentation quality, recordkeeper coordination, and whether the plan has operational issues that need to be addressed before fieldwork begins.
Use these resources to understand when an audit may be required and how to prepare for annual reporting.
- When Is an Employee Benefit Plan Audit Required?
Understand audit triggers, participant count considerations, and when a plan may need audited financial statements. - Form 5500 Filing & Audit Requirements Guide
Review filing expectations, timing, audit attachments, and common issues that affect plan sponsors. - 2026 Employee Benefit Plan Regulatory Updates
Review current regulatory changes that may affect plan governance, audit preparation, and compliance planning. - SECURE Act & SECURE 2.0 Implementation Guide
Understand implementation considerations for retirement plan sponsors. - Correction Programs Guide for Retirement Plan Sponsors
Learn how plan sponsors can address common retirement plan errors and correction considerations.
Why Plan Sponsors Use LBMC for Employee Benefit Plan Audit Support
Employee benefit plan audits require more than general audit experience. Plan sponsors need a team that understands ERISA reporting, DOL expectations, IRS requirements, Form 5500 deadlines, plan operations, recordkeeper coordination, and the practical documentation issues that can slow down an audit.
LBMC maintains a dedicated employee benefit plan audit practice and performs approximately 600 employee benefit plan audits annually. That scale gives LBMC the pattern recognition to identify common issues early, keep timelines moving, and help sponsors reduce last-minute surprises.
LBMC’s employee benefit plan audit team supports plan sponsors with:
- Structured audit timelines built around filing deadlines
- Clear documentation requests and organized follow-up
- Coordination with payroll, TPAs, recordkeepers, trustees, and advisors
- Practical findings plan sponsors can act on
- Dedicated EBP audit specialists who work with plans every day
- Big firm expertise with responsive, relationship-driven service
Not Sure Where to Start?
If your organization is preparing for an employee benefit plan audit, start with the resource that best matches your current situation.
If you are approaching your first audit:
Start with the Employee Benefit Plan Audit Planning Guide.
If you are reviewing your current auditor:
Start with How to Choose an Employee Benefit Plan Auditor.
If you sponsor a 401(k) plan:
Start with the 401(k) Compliance Checklist.
If you are unsure whether an audit is required:
Read When Is an Employee Benefit Plan Audit Required?
If Form 5500 timing is the main concern:
Read the Form 5500 Filing & Audit Requirements Guide.
Employee Benefit Plan Audit Resource FAQs
What is an employee benefit plan audit?
An employee benefit plan audit is an independent audit of a benefit plan’s financial statements and related plan operations. For many large plans, audited financial statements are required as part of the annual Form 5500 filing. LBMC’s EBPA service page explains that these audits help plan sponsors meet ERISA reporting requirements and reduce compliance risk.
When should a plan sponsor start preparing for an employee benefit plan audit?
Plan sponsors should begin preparing before audit season, especially if participant counts are approaching audit thresholds, Form 5500 deadlines are coming up, or documentation is spread across payroll providers, recordkeepers, TPAs, and internal teams.
What resources should first-time plan sponsors review?
First-time plan sponsors should start with the Employee Benefit Plan Audit Planning Guide, then review the audit requirement and Form 5500 resources. If the plan is a 401(k), the 401(k) Compliance Checklist should also be reviewed before audit fieldwork begins.
Can LBMC help if we already have an auditor?
Yes. Plan sponsors often review audit providers when they experience delays, poor communication, inconsistent documentation requests, limited EBP specialization, or concerns about audit quality. The “How to Choose an Employee Benefit Plan Auditor” resource should be positioned for that audience.
Need Help Preparing for an Employee Benefit Plan Audit?
Audit readiness is easier when the process starts early. If your organization is approaching an audit requirement, preparing Form 5500, evaluating your current auditor, or trying to reduce recurring compliance issues, LBMC’s employee benefit plan audit specialists can help you understand what needs to happen next.