Once you’re set up you’ll generally have little or no ongoing expenses. You are required to file a form 5500 with the IRS if you plan has $250,000 in assets or more. If you have less then $250,000 and less then 100 employees you’re exempt from filing this form. You can file the form yourself online or you can have an advisor file the form.
Any asset like real estate or precious metals requires a statement of value or appraisal at least once a year to be used for compliance with plan asset value reporting.