Have you documented the hiring process?

Are you prepared to monitor your plan’s service providers?

Have you identified parties-in-interest to the plan and taken steps to monitor transactions with them?

Are you aware of the major exemptions under ERISA that permit transactions with parties-in-interest, especially those key for plan operations (such as hiring service providers and making plan loans to participants)?

Have you reviewed your plan document in light of current plan operations and made necessary updates? After amending the plan, have you provided participants with an updated SPD or SMM?

Do those individuals handling plan funds or other plan property have a fidelity bond?