AICPA Helps 403(b) Sponsors with Plan Reporting

June 24, 2008 ( - The American Institute of Certified Public Accountants (AICPA) 403(b) Task Force recently issued tools to help with the new reporting and audit requirements for Employee Retirement Income Security Act (ERISA)-covered 403(b) plans.

According to an announcement from the AICPA’s Employee Benefit Plan Audit Quality Center (EBPAQC), the new tools include:

  • 403(b) Plans Primer – The primer provides a general understanding of 403(b) plans;
  • 403(b) Filing and Audit Requirements – A summary of 403(b) retirement plan filing and audit requirements, including an analysis of ERISA-covered 403(b) plans, DOL “safe harbor” rules, and a Form 5500 filing calendar; and
  • 403(b) Getting Started: Meeting the New Form 5500 Reporting and Audit Requirements – Suggests steps that plan sponsors and administrators can take now to help their plan meet the new filing and audit requirements.

In addition, Center members can use the EBPAQC Discussion Forum to share their 403(b) experiences with other Center members.

The 403(b) tools are publicly available at .

Beginning with 2009 Form 5500 filings, ERISA-covered 403(b) plans that are sponsored by charitable organizations will be subject to the same Form 5500 reporting and audit requirements that currently exist for section 401(k) plans (See New Form 5500 Regs Mean “Scary” 2009 Plan Year for 403(b) Sponsors ).

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