Fiduciary Administration

QBI Fiduciary Administration is an ERISA 3(16) administrative fiduciary and affiliate of QBI, LLC, a leading third party administrator for retirement plans. Under a contractual agreement, QBI Fiduciary Administration will become the Responsible Plan Fiduciary to oversee most plan operations on behalf of the plan sponsor, working with ERISA SMART Plan Manager, a propriety software platform designed by former DOL investigators.

QBI Fiduciary Administration has a business model designed to provide our clients peace of mind in fulfilling their duties as fiduciaries for plan administration. Our expertise delivers the services that enable the client to be administered at the highest level while reducing exposure to errors and omissions. We invite you to learn about our Fiduciary Administration services. Responsibilities eliminated from the Plan Sponsor include:

  • Plan Operation
    Fiduciary Administration

    Plan Operation

    • Interpretation of the plan document
    • Timely and accurate reporting and disclosure (e.g., Form 5500, distribution of SPD/SMM, participant fee disclosure, benefit statements, QDIA notices and other required participant disclosures)
    • Distribution of benefits
    • Provide Enrollment Information to new participants
    • Administration of QDRO’s (develop procedures and process)
    • Administration of Loans (develop and process)
  • Verify
    Fiduciary Administration


    • Document compliance with ERISA
    • Required plan updates
    • Plan audit requirements are met
    • Corrective distributions
    • Coverage testing and corrections
    • Nondiscrimination testing
    • Top heavy minimum benefit if necessary
  • Document Distribution
    Fiduciary Administration

    Document Distribution of Required Information to Participants

    • ERISA Section 105 employee benefit statement distribution
    • Safe Harbor Notices
    • Summary Plan Description
    • Summary Material Modification
    • Blackout notices
    • Summary Annual Report (SAR)
    • ERISA 404a5 Disclosures
    • ERISA 404c Compliance Notice
    • Episodic notices
    • IRS Form 1099-R
  • Respond/Resolve
    Fiduciary Administration


    • Participant inquiries
    • Participant benefit disputes
  • Review, Approve and Execute
    Fiduciary Administration

    Review, Approve and Execute

    • Form 5500
    • Participant rollover or transfers
    • Participant Cash Outs/Distributions
    • Participant Loans
    • Qualified Domestic Relations Orders (QDRO)
  • Sample for Compliance
    Fiduciary Administration

    Sample for Compliance

    • Auto enrollments
    • Automatic contribution increase administration
    • Hardship distributions
  • Other
    Fiduciary Administration


    • Maintain/retain plan records as required by ERISA
    • Interface with Government regulators DOL/IRS
    • Administer beneficiary instructions
    • Oversee operational corrections
    • Provide required ERISA bond If requested
    • Handle lost/missing participants and unclaimed benefits per DOL guidance
    • Monitor grandfathered plan provisions
    • Allocation of forfeitures or other unallocated monies by plan year-end
    • Monitor for partial plan termination
    • Oversee plan termination process

3(16) Fiduciary vs. TPA

A third party administrator (‘TPA’) may be retained by the plan or the plan administrator, but a TPA is typically neither the 3(16) administrator nor a

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Are you an Investment advisor?

Fiduciary Administration, LLC is the perfect fit for your practice.

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What is 3(16) Fiduciary?

ERISA Section 3(16) provides for a fiduciary* who is appointed and accepts fiduciary responsibility for certain otherwise administrative functions for the Plan.

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