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A Step-By-Step Guide to 401(k) Plan Compliance Testing

Betterment for Business is your partner throughout your 401(k) plan’s compliance testing.

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We’re excited to work with you and provide resources to keep you informed along the way. We encourage you to review this series of tutorial videos that will help guide you through the milestones of the testing process.

Introduction to Compliance

Start here. This brief overview walks through the types of compliance tests and how they can impact a 401(k) plan.

Your Betterment for Business Compliance Hub

This guide shows how to go through your compliance hub, fill out the annual questionnaire, download your plan’s census file, and then re-upload it after you’ve reviewed the file.

Annual Census Review

This introduction to the census file highlights the key fields to review. Specifically, it covers who should be included within the census, and how to account for employees’ hours worked, compensation, 401(k) contributions and employer contributions.

Request Census Information

Hours and Compensation

Employee and Employer Contributions

Action Notifications

If your plan has any year-end action items to address, you’ll receive a notification from Betterment. This video covers the types of action items and how to complete them.

About Betterment

401(k) plan administration services provided by Betterment for Business LLC. Investment advice to plans and plan participants provided by Betterment LLC, an SEC registered investment adviser. Brokerage services provided to clients of Betterment LLC by Betterment Securities, an SEC registered broker-dealer and member FINRA/SIPC. Betterment LLC and Betterment Securities are affiliates of Betterment for Business LLC.

Betterment for Business is an award-winning turnkey 401(k) service that includes plan administration for employers, and personalized, unconflicted investment advice for all plan participants. Powered by Betterment’s smart investment technology, Betterment for Business is one of the most efficient and cost-effective providers in the space, and offers a globally diversified portfolio of ETFs, tax-efficient portfolio management, smart rebalancing, automated investing, fee analysis on synced external accounts, and our retirement planning advice tool. Learn more.