401 K Audit Flat Fee (Not an Estimate)
| |
|
|
|
|
Plan Size
(Participants)
|
(Fixed Fee)
|
(Discounted Fee)*
|
What the National
Firms are Charging
(Estimate)
|
| 100 - 299 |
$6,500 |
$5,850 |
$10,000+ |
| 300 - 499 |
$7,500 |
$6,750 |
$12,500+ |
| 500 - 749 |
$8,500 |
$7,650 |
$15,000+ |
| 750 - 1,500 |
$9,500 |
$8,550 |
$20,000+ |
| 1,500 - 2,000 |
$10,500 |
$9,450 |
$25,000+ |
*To Qualify for Discounted Pricing, the audit fee is required to be paid in full anytime prior to the commencement of the audit.
**A 10% refundable security deposit is required upon the signing of the engagement letter.
For instance, if your company had 175 plan participants, a December 31st fiscal year end, and you wanted to take advantage of the the Discounted Fee pricing according to the chart above, you would qualify for the Discounted fee of $5,850. You would be required to put down a $585 ($5,850 x 10%) Refundable deposit upon signing the engagement letter. The remaining balance of $5,265 ($5,850 - $585) would be due prior to the audit commencing (i.e., from now until approximately June of next year). That's it! No additional Fees! No hidden Charges!