1.0 HRCI & 1.0 SHRM: Audit-Proof Your Business: Strategies to Avoid a Department of Labor Audit
The Department of Labor (DOL) is back in action and completing audits of private sector employers that are subject to ERISA regulations. They are targeting Health & Welfare Benefit Plan Compliance, especially late and non-filers for Form 5500. Employers who offer benefits are considered Plan Sponsors and must follow a strict fiduciary code of conduct. If non-compliance is found, the DOL may enforce fines and penalties.
Carolyn McNairy, Vice-President of Strategic Partnerships, will cover the following topics:
- Which employers are subject to Health & Welfare Benefit Plan Compliance
- What are the requirements
- Penalties and fines for non-compliance
- Current DOL investigations
- Why outsource and BASIC’s solution
ACA Reporting: Simplify Compliance with BASIC
Are you an applicable large employers (ALE) who employs at least 50 full-time equivalent employees in the previous calendar year (2025)? If so, you are required to comply with ACA reporting. In 2024, the Paperwork Burden Reduction Act and the Employer Reporting Improvement Act were enacted, the laws revised the requirement to supply forms to covered individuals. However, it did not remove the requirement for employers to file with the IRS. Additionally, the IRS made it mandatory to electronically file if you have 10 or more forms. This may cause issues with employers who have not established their transmitter code with the IRS's AIR System.
