Recently, the IRS conducted audits of employers to confirm that the proper documentation for written benefit plans existed in accordance with the Internal Revenue Code. Proper documentation is necessary to receive the tax benefits for providing health and welfare benefits to employees.

 

Below is a refresher on why compliance with this requirement is important – and how to ensure you continue to stay compliant!

 

Why does this IRS requirement matter to my organization?

 

For cafeteria plans, what parts of the code matter to me?

 

What should I do to stay compliant?

 

What should I be looking for?

 

What are the potential penalties?

 

Interested in learning more? Full details on the Code here!

Want more articles like this? Reach out to sales@121benefits.com