Summary
This document is a sample 401(k) fiduciary checklist designed for plan sponsors to ensure compliance with fiduciary responsibilities. It outlines best practices for reviewing 401(k) plans, particularly at year-end, to confirm that all fiduciary tasks have been completed and that the plan adheres to legislative and regulatory requirements. The checklist includes two main sections: deadline tasks, which must be completed by specified dates, and periodic tasks, which should be reviewed throughout the year. Each task is accompanied by notes explaining the requirements and timelines for completion. The document emphasizes the importance of maintaining accurate records of fiduciary activities and provides guidance on various compliance aspects, including amendments, participant notifications, and audits. It serves as a practical tool for plan sponsors to track their fiduciary duties effectively.
