The 401K Census Report provides detailed employee information required for annual compliance testing and reporting to the 401K plan provider. It includes demographic data, employment details, and contribution information for all active participants during the selected year. This report ensures compliance with IRS regulations and supports accurate plan administration.
When to Use It
- Year-End Compliance Testing: To prepare census data for nondiscrimination testing and IRS reporting.
- Provider Submission: To supply complete employee census details to the 401K plan provider.
- Audit Preparation: To provide detailed 401K participation records for internal or external audits.
Who Uses the 401K Census Report, How Often, and Why
