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Providing retirement plan solutions to employers nationwide

Our innovative 4-step audit process makes it easy to satisfy your plan’s form 5500 audit requirements.

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AICPA Employee Benefit Plan Audit Quality Center (EBPAQC) member

Minimize your time and maximize your experience

Combining expertise, innovation, and technology to provide unparalleled customer service and audit quality without interfering in your day to day responsibilities.

Our Commitment

ERISA CPA was founded in 2011 to better satisfy service and compliance needs of employers sponsoring retirement plans. Our time and resources are dedicated year-round to providing quality retirement plan services.

Your Benefit

Working with experienced plan auditors assures the most efficient use of your time while receiving quality independent plan audit services.

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Retirement plan solutions we provide

ERISA CPA provides professional retirement plan solutions helping employers nationwide satisfy employee benefit plan requirements. ERISA CPA combines expertise, innovation, and technology to deliver unparalleled quality customer service.

Audits

401(k), 403(b), Multiple Employer Plans, Pooled Employer Plans, Defined Contribution Group of Plans, Profit-sharing, Money Purchase, Employee Stock Ownership, Cash Balance, and Traditional Defined Benefit plans.

Tax Prep

Form 5500 and Related Schedules for Retirement and Health & Welfare Plans.

Consulting

Plan design analysis, Correcting plan operational issues (e.g., late/delinquent contributions, incorrect plan compensation, participant eligibility/missed opportunities, etc.), Delinquent filings, IRS and DOL notices, Plan service provider analysis, Plan operation analysis, and more.

Committed to deliver

Retirement plan solutions

Expertise

CPAs with over 30 years of combined experience, 100’s of plan audits performed, Employee Benefit Plan Audit Quality Center membership, and Advanced Plan Audit certification.

Technology

Secure plan audit process, industry leading dynamic audit software, proprietary tools, and more.

Innovative Audit Process

Efficient and effective 4-step audit process, 100% remote work environment, automation, and more.

What our clients are saying

We appreciate and value a CPA firm focused only on providing quality retirement plan audit services. Jason Underwood and ERISA CPA provide the level of retirement plan expertise and client service all employers need.
CPA, CHFP, Chief Financial Officer
ERISA CPA came highly recommended by another CPA firm when we found ourselves and third party administrator needing help reconciling our plan’s activity in order to meet our Form 5500 deadline. Thankfully, we were not disappointed. Jason and his team jumped right in during the middle of busy season and with their expertise helped correct a prior year Form 5500 and met the current Form 5500 deadline.
Exec. VP, Operations
The first year we engaged ERISA CPA, our recordkeeper was able to brag on things having gone so smoothly and our being able to be ahead of schedule. ERISA CPA is great to work with, very efficient, and cost effective. I’m happy to recommend them to other employers.
Sr. VP, Human Resources

Our innovative 4-step audit process makes it easy to satisfy your plan’s form 5500 audit requirements.

The Tennessee State Board of Accountancy (TSBA) does not certify individual CPAs or CPA firms as specialists in any area of accounting, likewise Jason Underwood CPA, PLLC, (Tennessee Permit No. 3918) is not certified as an ERISA specialist by the TSBA.

Frequently Asked Questions

What is an ERISA audit?
An ERISA audit is an independent examination of an employer-sponsored retirement plan's financial statements. It is required for most plans with 100 or more eligible participants and is filed with the plan's annual Form 5500 to satisfy U.S. Department of Labor requirements.
Does my 401(k) or 403(b) plan need an audit?
Generally, your plan needs an independent audit once it reaches 100 or more participants with account balances at the beginning of the plan year. Plans below that threshold usually qualify as small plans and are exempt.
How many participants require a retirement plan audit?
The threshold is 100 participants with account balances at the start of the plan year. The 80-120 rule can delay a first audit for plans hovering near that number.
What is the 80-120 participant rule?
If your plan has between 80 and 120 participants at the start of the plan year, you may file in the same category (large or small) as the prior year. This lets growing plans postpone a first audit until they consistently exceed 120.
What is Form 5500?
Form 5500 is the annual return/report employers file for their retirement and health and welfare plans. Plans required to be audited must attach the independent auditor's report to the filing.
When is the Form 5500 deadline?
Form 5500 is due the last day of the seventh month after your plan year ends, which is July 31 for a calendar-year plan. A two-and-a-half-month extension to October 15 is available by filing Form 5558.
Can I get an extension to file Form 5500?
Yes. Filing Form 5558 before your original deadline grants an automatic two-and-a-half-month extension, moving a calendar-year plan's deadline from July 31 to October 15.
What is the difference between a large plan and a small plan filer?
A large plan filer generally has 100 or more participants and must include an independent audit with Form 5500. A small plan filer has fewer than 100 participants and is typically exempt from the audit requirement.
What is an ERISA Section 103(a)(3)(C) audit?
It is the current term (under SAS 136) for what used to be called a limited-scope audit. Plan management elects it when a qualified institution certifies certain investment information, which the auditor then does not audit.
What happens if my plan audit is late or missing?
An incomplete Form 5500, including a missing required audit, can be rejected and expose the plan to Department of Labor penalties. The DOL's Delinquent Filer Voluntary Compliance Program (DFVCP) can reduce penalties for late filers.
Which retirement plans are subject to ERISA?
Most private-sector employer-sponsored plans, including 401(k), 403(b), profit-sharing, ESOP, and defined benefit plans, are subject to ERISA. Governmental and most church plans are generally exempt.
Do small plans ever need an audit?
Sometimes. A small plan can lose its audit waiver if it does not meet conditions such as adequate fidelity bonding and proper disclosure of certain investments. Review the DOL's small-plan audit waiver rules if you are unsure.
Who can perform an employee benefit plan audit?
Only a licensed, independent CPA or CPA firm may perform an ERISA plan audit. Choosing an auditor experienced specifically in employee benefit plans helps ensure quality and compliance.
What is the AICPA Employee Benefit Plan Audit Quality Center?
The EBPAQC is an AICPA membership center for firms committed to quality in employee benefit plan audits. ERISA CPA is a member, reflecting its focus and expertise in this specialized area.
Does ERISA CPA work with employers nationwide?
Yes. ERISA CPA serves employers across the United States and performs audits 100% remotely, so your location does not affect our ability to complete your plan audit on time.
How do I request a plan audit proposal?
Use the Request Plan Audit Proposal form on our site or call (423) 799-0822. Share a few details about your plan and we will follow up promptly.

Address

Jason Underwood CPA PLLC
PO Box 4735
Chattanooga, TN 37405
(423) 799-0822

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