5 Common DOL Audit Mistakes

The U.S. Department of Labor has been increasing audits of welfare benefit plans sponsored by companies of all sizes.  The following is common list of some of the mistakes employers/plan sponsors make in preparing for and during the audit process.

Mistake #1 - No summary plan description or plan document

Mistake #2 - Not communicating changes to plan participants

Mistake #3 - Not informing plan participants of special enrollment rights

Mistake #4 - Submitting required documentation in a disorganized way

Mistake #5 - Providing too much documentation