Plan Document Service to Protect Your Company

Keeping your documents updated and properly filed is very important for any company looking to maintain compliance with current employee benefit regulations. EB Compliance Strategies wants to help you ensure that you remain completely compliant by providing you with our helpful plan document service. This helps you avoid the potential penalties and fines that you might experience if you do not have your documents filled out and filed correctly.

Not staying compliant with regulations is a quick way to end up shuttering your business. With the help of our compliance strategy team, you are able to successfully avoid the potential issues that come with failing compliancy audits. Let us help you keep your business out of federal trouble.

The Failure to Have a Written Plan Document & SPD

What happens if you do not have a written plan document or fail to provide a SPD during an audit? The result could be a charge of $110.00 per day to your business. Not only that, but criminal penalties may be imposed on any individual or entity. The potential penalty could be up to 10 years of imprisonment and/or a monetary fine of $100,000 for an entity. This fine could be increased up to $500,000. This is simply something that businesses like yours cannot afford.

Failure to have proper plan documents negatively impacts employer compliance with federal regulations. This increases your risk and exposure for legal action. The solution for staying in compliancy is to work with our consulting firm’s written plan document service.

How Our Plan Document Service Helps

There are a number of different ways that our team can help you properly create and file your plan documents. The first step is to utilize our plan document development service. This is when we develop the initial plan documents and SPD for legal review. It includes support adoption agreements, amendments, and administrative forms.

The next step is the finalization of the plan document or plan documents and the preparation for participant distribution and recordkeeping. This step allows us to easily help you ensure that everyone gets the copies required of your plan document as well as that the files you need saved are properly stored. You can also work with us to have your plan document reviewed by a qualified ERISA attorney by request. The types of support documents we work with include:

• ERISA Wrap Documents
• Cafeteria Plans
• Health Reimbursement Arrangements
• Healthcare FSA
• Dependent Care FSA
• Tuition Reimbursement
• Transit & Parking Reimbursement

Contact us to receive a helpful plan document service for your business. Our consulting firm works hard to assist clients located throughout the Grand Rapids area as well as throughout the rest of Michigan.