Need a Recordkeeper for your 401k Plan?

401(k) is a new and exciting venture for the IRA Financial Group that focuses on all your 401(k) Plan record keeping and administration.

401k RecordkeeperMost small retirement plans appoint the employer as plan administrator. Management of the entity may designate an individual or an entity to perform these functions. Due to the complexity and timing involved, most small employers appoint an independent third-party to assist with the plan administration and record keeping services.

Our IRS approved 401(k) plan and bundled record keeping services are specifically customized to small businesses with less than 50 employees, which allows us to better understand their specific needs and concerns.

The 401k recordkeeper is the person or entity responsible for the general day-to-day plan operations and administration. Record keeping services include the following:

  • Determining when an employee becomes eligible to participate in the plan
  • Providing complete, accurate and timely information and approvals in the manner and within the time frames reasonably requested by the Company
  • Providing all necessary employee census information for new employees and census updates for existing employees
  • Computing plan contribution amounts
  • Maintaining plan records
  • Preparing and filing plan tax forms
  • Preparing IRS Form 5500
  • Performing actual deferral percentage (ADP) test (IRC Sec 401(k)(3) )
  • Performing actual contribution percentage (ACP) (IRC Sec. 401(m) quarterly), if applicable
  • Performing minimum coverage test (URC Sec. 410(b)(1)(A) and (B)) annually, if applicable
  • Performing top-heavy test (IRC Sec. 416) annually, if applicable
  • Monitoring elective deferrals limit (IRC Sec. 401(g)), if applicable
  • Providing employee notices, information, and reports

401(k) Administration Services is pleased to offer services in partnership with several providers who consistently meet and exceed these standards. Additionally, we continually actively observe the quality of services and their ability to meet plan sponsor needs and expectations. We have a very close working relationship with Fidelity, TD Ameritrade and Scottrade who have provided our clients with an individualized well balanced and diversified investment platform.

Let us take care of your Retirement Plan so that you can take care of your business!

Contact one of our Retirement Experts today at 1(800) 401-5762 to learn more or let us contact you.

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