You might hear and see a lot of talk about “your plan” or “the plan” while you’re working with Guidant Financial. But what plan are we talking about? It’s not your business plan or C Corporation plan – it’s your business’s 401(k) plan, which we help you to administrate.
Why does my business have a 401(k) plan?
When you funded your business with Rollovers for Business Start-ups (ROBS) using your retirement account, we helped you set up a brand new 401(k) plan for your business. This plan was able to buy stocks in your new business, which provided you with the funding to get your business started.
Your business’s 401(k) plan may have been a necessity, but it’s also an asset. Your 401(k) plan is both a way to grow your nest egg and a benefit to your employees that many other businesses don’t offer.
What am I paying Guidant Financial for?
It’s vital for your 401(k) plan to remain in compliance with the IRS and DOL, or you could risk plan disqualification. Plan disqualification has the potential to bring serious consequences to your business through taxes and penalties.
That’s why we’re here. Our 401(k) plan services keep your 401(k) plan and your business safe, secure, and compliant so that you can focus on what matters most – running your business.
Keeping in compliance with the IRS and DOL isn’t always easy. That’s why Guidant Financial offers our Third-Party Plan Administration (TPA) services for your 401(k) plan. Our in-house experts handle the checks and balances that the IRS requires for you to access retirement funds tax and penalty-free. This compliance process is complex and time-consuming – but we’re equipped with the experience and industry knowledge to get it right.
About once a year, we’ll ask you for the information we need to review, test, and report on your 401(k) plan. Then we’ll use all that information to fill out the compliance forms and help you file with the IRS and DOL. The compliance process is complicated and can take some time to complete, so we may ask you for more information throughout the year – because we’re dedicated to making sure your business is always secure, safe, and compliant.