Employee Plans Compliance Unit (EPCU) - Current Projects - End of Year/Beginning of Year Asset Mismatch


Why did I receive an EPCU Compliance Check Letter?

You filed a Form 5500 series return which reflected a “beginning of year” asset amount which is different from the prior year “end of year” asset amount. In general, the dollar amount of assets on the first day of a plan year and the last day of the prior plan year should be the same dollar amount.

What is the EPCU attempting to determine?

We want to make sure the Form 5500 series returns you filed reflect accurate asset information. We also want to determine common reasons why this error may have occurred.

What actions do I need to take?

Review your Form 5500 series returns filed at www.efast.dol.gov. If you are a one-participant plan and did not file a Form 5500-SF on www.efast.dol.gov, then review your copy of Form 5500-EZ filed with the Internal Revenue Service. Review your financial statements for the plan years shown on the compliance contact letter. Amend any Form 5500 series return that reflects inaccurate information. Complete the Information Request and return it by fax or postal mail to the person listed on the compliance contact letter. You may also furnish any other documents or clarifying material that you believe will be helpful for us to review. Please make every effort to provide a complete, accurate and timely response.

If You Have Questions

Please contact the person listed on the cover letter with questions about this project.

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