36% of health and welfare plans audited received DOL fines in excess of $10,000 due to ERISA and Form 5500 violations.
71% of 2024 ERISA Plan DOL Audits Resulted in Monetary Penalties
In FY 2024, the Department of Labor’s (DOL) Employee Benefits Security Administration (EBSA) agency found 71% of employers non-compliant with ERISA.
On average, they incurred $2.7 million each in fines, penalties and plan restitution.
Regulatory Enforcement: What Employers Need to Know in 2025
Get the latest fines and penalties the government uses to enforce regulatory compliance for employers and plan sponsors.
Little Known Ways A Form 5558 Extension Could Get You in Hot Water
Form 5500 filings deadlines can receive an automatic 2 1/2 month extension with Form 5558. But is it worth the risk to your organization?
EFAST2: 4 Things To Know BEFORE Filing A Form 5500
These 4 important considerations when filing your plan’s Form 5500 via EFAST2 could prevent a DOL audit and save thousands of dollars in fines.
Can A Wrong Form 5500 Schedule Lead to A DOL Audit?
Every year, thousands of plan sponsors receive notice that they’re going to have a DOL audit. These audits are triggered for a variety of reasons, but often it’s the detection of a red flag on an incorrectly filed Form 5500 Schedule.
ERISA Compliance: Don’t Confuse Your Plans & Policies
It’s critical to understand the difference between a “Plan” and a “policy”. In this video, you’ll learn how they impact ERISA compliance efforts.
ERISA Plans: What benefits are subject to ERISA?
Learn WHO, WHY and WHEN you need to comply with ERISA law. Spoiler alert! Even small organizations need to comply!
