Idon’t like surprises and when a 401(k) plan gets a notice about an impending Internal Revenue Service (IRS) audit, the best thing to do is not sit back and do nothing. In addition to collating all the ma- terials that the IRS asks for, there are cer- tain points within your 401(k) plan to make sure you can spot and correct the errors be- fore they do. If you get a notification from the IRS that there will be a plan audit, it makes perfect to go through a mock audit with an ERISA attor- ney (cough, cough) and your Third Party Administrator (TPA) to make sure that there are no glaring mistakes and prob- lems that an auditor could detect.
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