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Writer's pictureMainstreet RIA LLC

What should employers save into a 401(k) Fiduciary File?

Below is a list of items that employers should consider saving into their fiduciary file. If there was ever an audit or litigation, a comprehensive fiduciary file will be key in demonstrating the activity that has been done on the plan.

A best practice is to save all incoming correspondence, including any reports or notices that are sent out on your behalf.


Fiduciaries over a retirement plan should have documentation regarding the decisions that have been made, and why those decisions were made.


Side note: A Fiduciary is anyone who exercises or has any discretionary authority over the management or administration of the plan or its assets. Fiduciary status does not go by an individual's title.


If you have questions regarding the structuring of your Fiduciary File or Plan Governance best practices, please reach out at your convenience to speak with a member.


Mainstreet RIA LLC

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