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What Does the Audit Encompass ?
- Review of tax-preferred account files
- Verbal overview of audit findings on the day of the audit
- Written comprehensive report dealing with any deficiencies and recommended procedure changes.
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Reasons to Consider a Compliance Audit
- IRS rules are constantly changing
- Governmental reporting procedures have changed, and continue to change
- One financial institution purchasing another financial institution
- Changes in IRA personnel
- Inexpensive preventive medicine versus govenmental penalties
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CWF Will Review
- Plan Agreements
- Disclosure Statements
- Contribution Forms
- Beneficiary Designations
- Amendments
- Required Minimum Distributions
- Death Distributions
- 1099-Rs and 5498s
- Transfer & Rollover Procedures
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Compliance Review Audits
Make the various tax-preferred accounts work for you, worry-free. Before you find yourself standing face-to-face with a governmental representative, or an unhappy customer, you should make every effort to improve compliance procedures.
Our experienced auditing staff will directly review your IRA, QP, SIMPLE and/or SEP files for compliance in the areas of:
- IRS and customer reporting
- Documentation
- Amending in accordance with all IRS regulations
- Rollovers, direct rollovers and transfers
- Deposits and distributions (especially RMDs)
When your Audit is Completed
- You will receive a comprehensive written report (additional $200.00)
- We will specifically inform you of what must be done to bring your accounts into compliance
- We will recommend procedures that will help KEEP your accounts in compliance.
Fee Plus Expenses
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