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There are few things that will give a person that sinking feeling in the pit of their stomach like opening the mailbox and seeing an envelope with the words “Internal Revenue Service” (or Department of Labor) in the return address. It is similar to seeing that police car as you drive down the highway; you might not even be speeding, but you immediately slow down and wonder how you will look in stripes.

The IRS and DOL both have jurisdiction over qualified retirement plans, and between the two agencies, they generally audit more than 20,000 plans each year. And, if recent speeches and articles are any indication, both agencies will be visiting even more plan sponsors in the months ahead.

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