Kyle Bonds Featured in PLANADVISER Article
Kyle Bonds, ERPA, QPA, QKA, Director of the Benefit Consultants Division in Warren Averett’s Pensacola accounting and advisory office, was recently featured in a PLANADVISER article, Nuts and Bolts: Form 5500s. The article explained what a Form 5500 is and what retirement plan advisors need to know, how the form relates to clients and businesses, the common misperceptions and mistakes, and what the form’s future could look like.
PLANADVISER is a national publication that covers pertinent topics, trends and concerns that impact retirement plan specialists and advisors. They provide resources and information on M&A, plan and participant services and practice management.
In the article, Bonds explains: “I think expansion questions might alleviate unneeded or unwarranted IRS audits on these plans. Providing additional information to these government entities could help them make a more informed decision on potential audit targets, which in turn increases the importance of partnering with an educated plan advisor.”
Kyle Bonds has more than 21 years of experience working with retirement plans. His primary responsibilities include managing the Benefit Consultants team, plan design and consulting. Warren Averett’s Benefit Consultants Division specializes in effectively navigating plan designs, administration and compliance.
Learn more about Kyle Bonds, the Benefit Consultants or our Pensacola CPAs and advisors.
Article Summary
Experts agreed that all plan advisors should be aware of the filing requirements of the Form 5500, which must be filed if the retirement plan is covered by ERISA. Retirement plans covered by ERISA include 401(k)s, pension plans, profit sharing plans and more.
In the future, Form 5500 will have additional compliance questions, along with requests for prototype and document information, which will probably be expanded over time.
For more information and to read the full article, visit PLANADVISER’s website here.