Run Your EBP Plan Audit with Confidence

Preparing for a plan audit can place heavy demands on your HR, finance, and payroll teams. From coordinating with TPAs to meeting Form 5500 deadlines, the process requires careful planning and the right audit partner.

Sensiba helps plan sponsors navigate 401(k), 403(b), ESOP, pension, and 11-K audits with a structured approach that reduces disruption and keeps your audit on track.

Industry-Focused Insights and Expertise

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Employee benefit audits performed annually

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Years’ experience

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High star-rating from verified clients

Why Plan Sponsors Choose Sensiba

Reduce Audit Burden on Your Team

Employee benefit plan audits often create unnecessary strain on internal teams when processes are unclear or poorly coordinated.

Sensiba works closely with HR, finance, payroll, and plan administrators to help organize documentation, coordinate with TPAs and recordkeepers, and keep the audit moving forward.

Our approach helps plan sponsors stay focused on running their plans while we manage the audit process.

Specialized EBP Audit Expertise

Employee benefit plan audits require deep knowledge of ERISA regulations, plan operations, and Form 5500 requirements.

Our team performs audits for a wide range of plans, including:

401(k) plans
403(b) plans
ESOPs
Defined benefit (pension) plans
11-K filings for SEC-registered plans

As members of the AICPA Employee Benefit Plan Audit Quality Center, Sensiba maintains rigorous technical standards and up-to-date regulatory expertise.

A Structured Process Designed for Plan Sponsors

A successful plan audit depends on preparation, communication, and clear expectations.

Sensiba uses a structured three-phase approach to help plan sponsors stay organized and minimize disruption to daily operations. Our process focuses on:

Clear Prepared-By-Client (PBC) request lists
Coordination with TPAs, recordkeepers, and payroll providers
Early identification of operational issues
Efficient fieldwork and reporting timelines

The result is a more predictable audit experience for your team.

The Sensiba audit team was very knowledgeable and professional. The audit timeline and PBC list were communicated well in advance. The team was mindful of our time and avoided duplicate requests. The recommendations in the audit report were very helpful.

Ivan Stanchev

VP Finance
Aeris Communications, Inc.

The team is always a pleasure to work with. Very professional and communicative on expectations, needs, and deadlines.

Hayley Frankel

People Operations Generalist
Attn: Inc.

FAQs

Who is required to have an EBP audit?

Generally, any ERISA-covered plan with 100 or more participants and account balances at the start of the plan year is considered a "large plan" and is subject to an audit. This applies to 401(k), 403(b), ESOP, and Defined Benefit (Pension) plans.

Note: Under the "80-120 Rule," if you had fewer than 100 participants with account balances last year and filed as a "small plan," you may be able to skip the audit this year as long as your participant count remains under 120.

What are the deadlines for completing an EBP audit?

The audit must be attached to your Form 5500 and filed electronically with the Department of Labor. For calendar-year plans, the deadline is July 31st. If you file for a 2½-month extension (Form 5558), your final deadline is October 15th.

What types of benefit plans require an audit?

We perform specialized audits for a wide range of plans, including:

Defined Contribution Plans: 401(k), 403(b), ESOP, and Profit-Sharing plans.
Defined Benefit Plans: Traditional pension plans and cash balance plans.
11-K Filings: For SEC-registered employee stock purchase plans.

How long does an EBP audit take?

The timeline depends on the complexity of your plan and the responsiveness of your service providers (recordkeepers/custodians). Typically, the process spans a few weeks, but our 3-phase approach is designed to minimize the time your internal HR and Finance teams spend on the project.

How should we prepare for our EBP audit?

Preparation is key to smooth filing. We recommend:

Organizing your Plan Documents and latest amendments.
Ensuring plan operations (like contribution timing) match your written policies.
Reconciling participant data with your payroll records.

Working with an AICPA-member auditor who specializes in EBP to identify potential issues before the filing deadline.

Let’s talk about your project.

Join 140+ plan sponsors who trust our 3-phase approach for on-time, stress-free EBP filings. Get expert guidance for your 401(k), 403(b), ESOP or pension plan audit today.

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