What if a document is unavailable?

Note the missing item with a clear explanation and the anticipated delivery date. Include alternative evidence where possible and request an attestation from the provider about efforts to locate or reconstruct the record.

Is an electronic signature valid?

Yes, in most cases electronic signatures meet legal standards under the ESIGN Act (15 U.S.C. ch. 96) and UETA, provided intent, consent, attribution, and record retention are satisfied.

When is notarization required?

Notaries are required only when a specific document or state law demands it. Confirm state-specific requirements for witness or notary presence and use RON where permissible.

How long should I retain responses?

Follow federal minimums—IRS records generally three years (IRC §6501(a)) and HIPAA records six years (45 CFR §164.530(j))—and extend retention where state or industry rules require longer.

Can third parties redact sensitive data?

Yes; allow redactions for PHI or confidential SSNs but require an unredacted certified copy to be available to authorized reviewers under appropriate controls.

Who signs the certification?

An authorized plan official or delegated representative should sign and date the certification. Maintain documentation of the signer’s authority, such as board minutes or an authorization letter.

Electronic Signature
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Employee Benefits Due Diligence Request

Employee Benefits Due Diligence Request

This template is fully customizable. Edit the text, fill out the fields, and send it for signature. Give it a try!

11.05 Employee Benefit Plan Document Checklist

The following document checklist is designed to assist the reviewing attorney and others involved in the employee benefit due diligence effort to ensure that all relevant plans, programs, agreements and other material documents have been identified and reviewed in the context of a corporate finance or merger/acquisition transaction. Please keep in mind that no checklist, no matter how detailed, can ensure a perfect review. Accordingly, it is important that each reviewer use his or her best professional judgment in using this checklist, and be alert to the possibility that documents, agreements or plans may exist beyond those suggested below.

All current and terminated ERISA plans and amendments or modifications thereto

All current and terminated non-ERISA plans and amendments and modifications thereto

All current and terminated multi-employer plans and related data

All deferred compensation arrangements, procedures or policies

All employment contracts (or written summaries of any oral employment contracts), golden parachutes, silver parachutes, tin parachutes, etc.

All securities options, awards, warrants, etc. agreements or programs

List of current employees and plans in which they participate

List of all former employees and retirees and plans in which they participate

Summary description of all perquisites and other non-plan benefits applicable to groups or categories of employees

All medical benefit or other similar programs or plans, including but not limited to physician care, dental, ophthalmological, and pharmaceutical

Summary description of sick pay, family leave, vacation, holiday, tuition reimbursement, continuing education, matching charitable contributions, and related policies or programs

Audited, reviewed or compiled financial statements and the notes thereto

All actuarial reports and analyses, including a certificate from the responsible officer that all such reports and analyses have been produced for review

All information relating to funding vehicles such as Voluntary Employee Benefit Associations (VEBAs), trusts, letter of credit arrangements, etc.

Confirmations of lien status for purposes of IRC ¤ 412 and ERISA ¤ 4068

All loan documents evidencing transactions involving plans, trusts, funding vehicles, etc.

All special plans or programs such as those relating to Employee Stock Plans (ESOPs)

Detailed listing of all assets held in, by or for the benefit of any plan, program, trust, etc.

All investment advisor, fiduciary, consultant, actuary and other third party engagement agreements and correspondence

All written, electronic or other communication with employees, former or retired employees and other plan or program participants including but not limited to policy statements, memoranda, Consolidated Omnibus Budget Reconciliation Act (COBRA) disclosures/records, Internal Revenue Code ¤ 402 notices and individual account statements

All governmental or regulatory filings, notifications and communications including but not limited to Forms 5550, Forms 5310, Securities and Exchange Commission forms, Pension Benefit Guaranty Corporation filings, etc.

All applications and correspondence relating to (and copies of) each "determination" letter for each qualified plan

All petitions, filings, notices, correspondence and other documentation relating to any litigation arbitration or mediation involving any current or terminated plans, programs or policies

All correspondence among the plan sponsor and any third parties (including but not limited to governmental authorities, trustees, actuaries, attorneys, accountants, etc.) relating to or involving employee plans or benefits generally

All corporate or other legal entities records relating to the adoption, modification, qualification or other aspects of employee plans, programs or policies.

Any "qualified employer securities" acquisition-related memoranda or files

All material internal memoranda related to any of the above

Reviewer Notes

Reviewed By

Date

What an Employee Benefits Due Diligence Request Is

An Employee Benefits Due Diligence Request is a formal checklist or questionnaire sent to plan administrators, brokers, vendors, or acquiring employers to collect documentation and confirmations about employee benefit plans. It typically covers plan governance, plan documents, financial and claims information, compliance records, participant communications, and vendor agreements. Employers use the request during audits, mergers and acquisitions, vendor transitions, or periodic compliance reviews to verify ERISA, tax, and regulatory compliance and to identify liabilities or gaps that could affect plan sponsors or participants.

Why a Due Diligence Request Matters for Benefits

A structured request reduces business and legal risk by assembling documents needed to evaluate plan obligations, fiduciary compliance, and exposure. It helps identify missing filings, vendor dependencies, and potential indemnity needs.

Who Typically Prepares and Responds to This Request

Responses are consolidated by the requesting party to assess compliance, quantify liabilities, and plan remediation or negotiation steps ahead of audits or transactions.

In-house HR: coordinates responses, provides employee communications, enrollment files, and census data.
Plan administrators / TPA: supply plan documents, Form 5500 copies, claims runout data, and service agreements.
Brokers / insurers: provide policy certificates, rate history, and stop-loss or network agreements.

How to Complete the Request, Step by Step

Work through the request in order to collect documents and secure attestations efficiently.

01

Assemble Team: Identify HR, legal, finance, and the plan administrator who will supply documents.
02

Map Documents: Match each checklist item to a document or report and note any gaps explicitly.
03

Collect Evidence: Gather plan documents, Form 5500s, SPD, claims reports, and vendor contracts.
04

Certify & Sign: Have an authorized representative review responses and sign the completed request.

Essential Components of a Professional Request

A complete Employee Benefits Due Diligence Request groups requests by legal, financial, and operational categories so reviewers can find evidence and attestations quickly.

Plan Governance

Request plan document, amendments, summary plan description (SPD), adoption agreements, and evidence of trustee or committee minutes showing approvals and fiduciary actions.

Compliance Filings

Collect recent Form 5500 filings, applicable schedules, DOL audit letters, and any voluntary compliance submissions to document regulatory standing.

Financial Metrics

Ask for audited statements, actuarial valuations (pension plans), claim-run reports, stop-loss statements, and reserve calculations to quantify liabilities.

Participant Data

Request census files, contribution history, participant counts by benefit type, and eligibility rules to verify benefit exposure and back liabilities.

Vendor Contracts

Require TPAs, recordkeepers, insurers, and stop-loss agreements, including service-level metrics, indemnities, and termination terms that affect post-transaction costs.

Privacy & Security

Obtain privacy notices, data-sharing agreements, breach history, and HIPAA business associate agreements where PHI is exchanged or stored.

Key Data Elements to Provide

Plan Documents: SPD, plan text

Form 5500: Last three years

Claims Reports: 12–36 months

Vendor Contracts: All active agreements

Participant Census: Current snapshot

HIPAA BAA: If PHI exchanged

Principal Risks and Consequences

Penalties for Late Filings: IRC §6721

I-9 Violations: Civil fines possible

ERISA Exposure: Fiduciary liability

HIPAA Breach: 45 CFR §164.530(j)

Vendor Gaps: Operational disruption

Data Inaccuracy: Tax withholding errors

Common Preparation Pitfalls to Avoid

Incomplete time ranges: requesting partial claims data without clear start and end dates prevents accurate liability estimation and slows review.
Mismatched party names or EINs: inconsistent legal entity names or EINs between documents can trigger tax reporting issues and require re-certification.
Missing attestations: failing to obtain signed attestations from an authorized plan representative leaves uncertainty about the document's accuracy.
Insufficient vendor detail: providing a contract without service level metrics, fee schedules, or termination clauses limits the ability to price transition and indemnity risk.

Typical Request and Response Flow

A clear workflow reduces back-and-forth and establishes timelines for deliverables and verification.

Request Issued: Requestor lists items, deadline and preferred format.
Acknowledgment: Recipient confirms receipt and scope of responsibility.
Document Delivery: Respondent uploads documents and flags redactions.
Certification: Authorized signer reviews and certifies completeness.

Configuring an Electronic Workflow for Responses

Set up an eSubmission flow that assigns tasks, enforces deadlines, and captures an audit trail for each document and signer.

Field	Configuration
Access Controls	Role-based viewer and editor permissions
Deadlines	Auto-reminders and escalation rules
Accepted Formats	PDF/A, DOCX, XLSX preferred
Audit Capture	Timestamp, IP, signer identity

Technical Considerations for eSubmission

Choose a platform that supports secure uploads, access controls, audit trails, and the document formats your vendors will provide.

Integrations: Salesforce, NetSuite, Google Workspace, and Microsoft 365 integrations
File Formats: PDF, DOCX, XLSX supported
Authentication: Email, SMS, or advanced signer verification

Timing and Typical Deadlines

Establish clear deadlines based on the plan year, regulatory filing schedules, and transaction timelines to avoid late penalties or incomplete reviews.

Initial Response Window:

10–30 business days depending on scope

Follow-up Documents:

Add 5–10 business days for supplemental requests

Form 5500 Lookback:

Request at least the prior three plan years

Certification Deadline:

Align with closing date for transactions

Audit Hold:

Preserve documents until statutory retention period ends

Key Milestones from Request to Certification

A milestone timeline helps track progress and flags items needing escalation during reviews or deals.

01

Issue Request

Requestor issues checklist and sets initial due date for primary documents.

02

Document Collection

Respondent uploads available materials and lists outstanding items.

03

Review & Exception Logging

Requestor reviews materials, documents exceptions, and requests clarifications.

04

Final Certification

Authorized signer certifies accuracy and completeness for closing or audit use.

eSignature Vendor Pricing and Feature Snapshot

Compare common pricing and capability criteria for handling document collection and signatures. signNow is listed first per comparison rules; verify vendor details with each provider.

	signNow	DocuSign	Adobe Sign	PandaDoc	HelloSign
Starting Price	$8/user/mo	$15/user/mo	$14/user/mo	$19/user/mo	$15/user/mo
Free Trial	7-day free trial	Varies by vendor	Varies by vendor	Varies by vendor	Varies by vendor
Bulk Send	Yes	Yes	Yes	Yes	No
Audit Trail	Yes	Yes	Yes	Yes	Yes
HIPAA Compliant	Yes	Yes	Yes	No	No

Real-World Examples of Document Use

These case notes illustrate how organizations use digital signing and centralized requests in practice.

Optica Ventures (COO)

Optica centralized benefits paperwork for transactions and vendor handoffs to reduce delays and confusion.

The interface was easy to use for internal teams.
Brian Fitzgibbons, COO, reports the approach improved customer interactions and speed while simplifying the participant documentation process.

Xerox (Director of NetSuite Ops)

Xerox integrated signing into its ERP to automate benefit elections and vendor contracts.

Integration with back-end systems kept data consistent.
Kodi-Marie Evans noted the flexibility to obtain signatures in required formats and the ability to align documents with NetSuite records for reconciliation.

Practical Tips for Accurate and Efficient Completion

Adopt repeatable templates and clear ownership to reduce errors and accelerate review timelines.

Standardized Checklist

Use a consistent itemized checklist that defines acceptable file types, date ranges, and naming conventions to make review predictable and reduce back-and-forth.

One Point of Contact

Designate a single coordinator to collect materials, answer clarifying questions, and reconcile items to avoid duplicate or missing submissions.

Use eSignatures

Where allowed by law, accept electronic signatures and maintain an audit trail to speed certification and create reproducible records for audits.

Verify Signers

Require an authorized signer with title and contact details; retain proof of authorization (board resolution or delegation) to support attestations.

Frequently Asked Questions and Troubleshooting

Answers to common questions about preparing, submitting, and certifying an Employee Benefits Due Diligence Request.

Need help? Contact support

What if a document is unavailable?
Note the missing item with a clear explanation and the anticipated delivery date. Include alternative evidence where possible and request an attestation from the provider about efforts to locate or reconstruct the record.
Is an electronic signature valid?
Yes, in most cases electronic signatures meet legal standards under the ESIGN Act (15 U.S.C. ch. 96) and UETA, provided intent, consent, attribution, and record retention are satisfied.
When is notarization required?
Notaries are required only when a specific document or state law demands it. Confirm state-specific requirements for witness or notary presence and use RON where permissible.
How long should I retain responses?
Follow federal minimums—IRS records generally three years (IRC §6501(a)) and HIPAA records six years (45 CFR §164.530(j))—and extend retention where state or industry rules require longer.
Can third parties redact sensitive data?
Yes; allow redactions for PHI or confidential SSNs but require an unredacted certified copy to be available to authorized reviewers under appropriate controls.
Who signs the certification?
An authorized plan official or delegated representative should sign and date the certification. Maintain documentation of the signer’s authority, such as board minutes or an authorization letter.

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