401(k) plan audits in Charlotte, NC
Charlotte sponsors filed 3,057 401(k) plans for the 2024 plan year, the 19th most of any US city and 16% of all 401(k) plans in North Carolina. 316 of them started the year with 100 or more participants with an account balance, which means their Form 5500 needed an independent audit.
How many Charlotte 401(k) plans need an audit?
316 of 3,057. 47% of those have fewer than 250 participants with a balance:
| Participants with a balance | Charlotte plans |
|---|---|
| 100 to 249 | 147 |
| 250 to 499 | 63 |
| 500 to 999 | 37 |
| 1,000 or more | 69 |
Another 19 Charlotte plans filed as small plans but ended 2024 with 100 or more participants with a balance, so their next filing is likely to need a first audit. Check your own plan’s filing, or read how the count works.
What do audited Charlotte plans report?
27% of the 288 audited Charlotte 401(k) plans that answered the question reported employee contributions reaching the plan late on Schedule H. Late deposits are one of the things an auditor tests; what else a first auditor looks at.
On fees: North Carolina plans that paid their audit from plan assets reported a median of $15,500 in 2024, and half paid between $10,150 and $27,000, across 157 filings. Plans that pay from company funds report no fee, so this is the going rate among plans that pay from the plan. The full fee index.
Which Department of Labor office oversees Charlotte plans?
The Employee Benefits Security Administration’s Atlanta Regional Office lists North Carolina among the states it serves: 61 Forsyth St. SW, Suite 7B54, Atlanta, GA 30303, (404) 302-3900.
Can a CPA firm from outside North Carolina audit your plan?
Yes. ERISA accepts an auditor licensed as a certified public accountant by any state, and most states let CPAs licensed elsewhere practice there under mobility rules.
To check a CPA or firm, use the directory of state boards of accountancy.
Working with Ledgerline from Charlotte
Ledgerline audits 401(k) and 403(b) plans and is booking engagements for the coming season, starting December 2026. The work runs through a secure portal, so your team, your TPA and your recordkeeper each upload only their own items. We have CPAs across the US, so if you would rather meet in person in Charlotte, or need any part of the work done on site, we can do that.
Frequently asked questions
Does my Charlotte 401(k) plan need an audit?
It does if it had 100 or more participants with an account balance on the first day of the plan year. For the 2024 plan year, 316 of the 3,057 401(k) plans sponsored from a Charlotte address were over that line.
How much does a 401(k) audit cost in North Carolina?
In 2024 Form 5500 filings, the median audit fee paid by North Carolina plans from plan assets was $15,500, and half paid between $10,150 and $27,000. Many sponsors pay their auditor from company funds instead, and those fees do not appear in the filings.
Can a CPA firm from outside North Carolina audit a Charlotte 401(k) plan?
ERISA accepts an auditor licensed by any state, and most states let CPAs licensed elsewhere practice under mobility rules. North Carolina's board of accountancy sets any conditions for out-of-state firms.
See where your plan stands from its own filing, or book a short call to talk through what an audit would involve.
Other cities
- DOL: Form 5500 datasets, 2024 plan year (Form 5500, Form 5500-SF and Schedule H). 401(k) plans (feature code 2J) in the DOL's 2024 Form 5500 and 5500-SF datasets, one record per plan, grouped by the sponsor's mailing city as filed.
- DOL: Atlanta Regional Office
- ERISA section 103(a)(3)(D), definition of qualified public accountant