Not quite two years ago, I blogged 1,200 employers to receive IRS 401(k) Compliance Check Questionnaire. My post discussed the letter and instructions that the IRS would be sending to 1,200 employers sponsoring 401(k) plans asking them to complete a 46-page 401(k) Compliance Check Questionnaire.

According to the IRS, the purpose of the survey was to:

  • Measure the health of section 401(k) plans in terms of compliance levels and risk factors
  • Better understand compliance issues related to section 401(k) plans
  • Evaluate the effectiveness of voluntary compliance programs and tools
  • Determine how the IRS can best foster compliance

Today, the IRS announced the results of that questionnaire in its Final Report generalized to the 401(k) plan population that filed Form 5500 for the 2008 Plan Year, and stratified to highlight the differences in the results by plan size stratified as follows:

  • Small Plans: 0-5 participants
  • Medium Plans: 6-100 participants
  • Large Plans: 101-2,500 participants
  • Very Large Plans: more than 2,500 participants

You can find the highlights of the Questionnaire’s findings here for the requested information in the following areas:

  • Demographics
  • Plan participation
  • Contributions
  • Designated Roth features
  • Distributions
  • Top-heavy and nondiscrimination testing
  • IRS correction programs
  • Plan administration