What information is missing from the Ascensus workpapers?

This article summarizes information that is missing from each of the Ascensus workpapers in detail.

  • Contribution Allocation Testing
    • The input report does not include the investment option name, ticker symbols or percent elected.
  • Distribution Package
    • Gross Distribution amounts in the Distribution Package are net of fees, except for Hardship Distribution Types.
    • AuditMiner combined participants with multiple 1099r codes with the same distribution date.
    • AuditMiner has included forfeitures from the Plan Administration Report (Participant Detail) in the Distribution by Money Source amounts on the Testing tab.
    • The input report does include the payee information so this column has been left blank for the auditor to populate if deemed necessary.
    • The input report does not capture distributions from Roth money sources. Therefore, there may be Roth distributions in the Ascensus Trust Statement that are not reflected in the AuditMiner population.
  • Investment Disclosure Support
    • The input report doesn’t include ticker symbol, current year shares, current year price, or current year cost.
  • Investment Income Allocation
    • The input reports don’t include investment information at the participant level that is required to generate the investment income allocation report.
  • Loan Package
    • The input report does not include unpaid accrued interest therefore the column has been left blank for the auditor to populate if deemed necessary.
    • Principal Repaid amount includes distributed loans.
  • Participant Activity Detail Package
    • The input report does not include participant activity detail by investment, so this tab has been excluded from the output.
  • Rollovers Package
    • The input report does not include the rollover date, qualified institution, investment name and allocation percent and are therefore left blank on the output for the auditor to populate if deemed necessary.