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SUMMIT FINANCIAL GROUP, LLC 401(K) PLAN 401k Plan overview

Plan NameSUMMIT FINANCIAL GROUP, LLC 401(K) PLAN
Plan identification number 001

SUMMIT FINANCIAL GROUP, LLC 401(K) PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Age/Service Weighted or new comparability or similar plan - Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New comparability or similar plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the theshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of section 401(l).
  • Profit-sharing
  • ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
  • Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
  • Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
  • Code section 401(m) arrangement - Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contribtions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
  • Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
  • Master plan - A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion letter; and for which a single funding medium (for example, a trust or custodial account) is established for the joint use of all adopting employers.

401k Sponsoring company profile

SUMMIT FINANCIAL GROUP, LLC has sponsored the creation of one or more 401k plans.

Company Name:SUMMIT FINANCIAL GROUP, LLC
Employer identification number (EIN):204194051
NAIC Classification:523900

Additional information about SUMMIT FINANCIAL GROUP, LLC

Jurisdiction of Incorporation: California Secretary of State
Incorporation Date: 2006-01-27
Company Identification Number: 200602810239
Legal Registered Office Address: 2000 CROW CANYON PL STE 450

SAN RAMON
United States of America (USA)
94583

More information about SUMMIT FINANCIAL GROUP, LLC

Form 5500 Filing Information

Submission information for form 5500 for 401k plan SUMMIT FINANCIAL GROUP, LLC 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01
0012022-01-01
0012021-01-01
0012020-01-01
0012019-01-01
0012018-01-01
0012017-01-01
0012016-01-01
0012015-01-01
0012014-01-01STEVE WILCOX
0012013-01-01STEVE WILCOX
0012012-01-01STEVE WILCOX
0012011-01-01STEVE WILCOX
0012010-01-01STEVE WILCOX
0012009-01-01STEVE WILCOX
0012009-01-01STEVE WILCOX

Financial Data on SUMMIT FINANCIAL GROUP, LLC 401(K) PLAN

Measure Date Value
2025 : SUMMIT FINANCIAL GROUP, LLC 401(K) PLAN 2025 401k financial data
Total liabilities as of the end of the plan year2025-05-050
Total liabilities as of the beginning of the plan year2025-05-050
Total expenses incurred by plan in this plan year2025-05-05208074
Net assets as of the end of the plan year2025-05-059498505
Total assets as of the beginning of the plan year2025-05-057685135
Value of plan covered by a fidelity bond2025-05-05500000
Participant contributions to plan in this plan year2025-05-05321792
Other expenses paid from plan in this plan year2025-05-050
Other contributions to plan in this plan year2025-05-05144124
Other income to plan in this plan year2025-05-051294346
Plan net income in this plan year2025-05-051813370
Net assets as of the end of the plan year2025-05-059498505
Net assets as of the beginning of the plan year2025-05-057685135
Employer contributions to plan in this plan year2025-05-05261182
Fees paid to broker by Benefit Provider2025-05-059479
Expensese paid to adminstrative service provicers from plan in this plan year2025-05-059837
2024 : SUMMIT FINANCIAL GROUP, LLC 401(K) PLAN 2024 401k financial data
Total liabilities as of the end of the plan year2024-06-030
Total liabilities as of the beginning of the plan year2024-06-030
Total expenses incurred by plan in this plan year2024-06-031473034
Net assets as of the end of the plan year2024-06-037685135
Total assets as of the beginning of the plan year2024-06-037166678
Value of plan covered by a fidelity bond2024-06-03500000
Participant contributions to plan in this plan year2024-06-03290566
Other expenses paid from plan in this plan year2024-06-030
Other contributions to plan in this plan year2024-06-030
Other income to plan in this plan year2024-06-031442527
Plan net income in this plan year2024-06-03518457
Net assets as of the end of the plan year2024-06-037685135
Net assets as of the beginning of the plan year2024-06-037166678
Employer contributions to plan in this plan year2024-06-03258398
Fees paid to broker by Benefit Provider2024-06-038076
Expensese paid to adminstrative service provicers from plan in this plan year2024-06-030
2022 : SUMMIT FINANCIAL GROUP, LLC 401(K) PLAN 2022 401k financial data
Total liabilities as of the end of the plan year2022-05-190
Total liabilities as of the beginning of the plan year2022-05-190
Total expenses incurred by plan in this plan year2022-05-19200086
Net assets as of the end of the plan year2022-05-198380033
Total assets as of the beginning of the plan year2022-05-197036237
Value of plan covered by a fidelity bond2022-05-19500000
Participant contributions to plan in this plan year2022-05-19349343
Other expenses paid from plan in this plan year2022-05-190
Other contributions to plan in this plan year2022-05-19357
Other income to plan in this plan year2022-05-19986009
Plan net income in this plan year2022-05-191343796
Net assets as of the end of the plan year2022-05-198380033
Net assets as of the beginning of the plan year2022-05-197036237
Employer contributions to plan in this plan year2022-05-19208173
Fees paid to broker by Benefit Provider2022-05-197855
Expensese paid to adminstrative service provicers from plan in this plan year2022-05-194174
2017 : SUMMIT FINANCIAL GROUP, LLC 401(K) PLAN 2017 401k financial data
Total plan liabilities at end of year2017-12-31$0
Total plan liabilities at beginning of year2017-12-31$0
Total income from all sources2017-12-31$894,855
Expenses. Total of all expenses incurred2017-12-31$497,988
Benefits paid (including direct rollovers)2017-12-31$494,827
Total plan assets at end of year2017-12-31$3,621,464
Total plan assets at beginning of year2017-12-31$3,224,597
Value of fidelity bond covering the plan2017-12-31$500,000
Total contributions received or receivable from participants2017-12-31$163,128
Expenses. Other expenses not covered elsewhere2017-12-31$2,882
Contributions received from other sources (not participants or employers)2017-12-31$0
Other income received2017-12-31$599,253
Noncash contributions received2017-12-31$0
Net income (gross income less expenses)2017-12-31$396,867
Net plan assets at end of year (total assets less liabilities)2017-12-31$3,621,464
Net plan assets at beginning of year (total assets less liabilities)2017-12-31$3,224,597
Assets. Value of participant loans2017-12-31$66,597
Total contributions received or receivable from employer(s)2017-12-31$132,474
Expenses. Administrative service providers (salaries,fees and commissions)2017-12-31$279
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2017-12-31$0
2016 : SUMMIT FINANCIAL GROUP, LLC 401(K) PLAN 2016 401k financial data
Total plan liabilities at end of year2016-12-31$0
Total plan liabilities at beginning of year2016-12-31$0
Total income from all sources2016-12-31$598,227
Expenses. Total of all expenses incurred2016-12-31$91,999
Benefits paid (including direct rollovers)2016-12-31$91,833
Total plan assets at end of year2016-12-31$3,224,597
Total plan assets at beginning of year2016-12-31$2,718,369
Value of fidelity bond covering the plan2016-12-31$300,000
Total contributions received or receivable from participants2016-12-31$167,655
Expenses. Other expenses not covered elsewhere2016-12-31$0
Contributions received from other sources (not participants or employers)2016-12-31$1,510
Other income received2016-12-31$268,781
Noncash contributions received2016-12-31$0
Net income (gross income less expenses)2016-12-31$506,228
Net plan assets at end of year (total assets less liabilities)2016-12-31$3,224,597
Net plan assets at beginning of year (total assets less liabilities)2016-12-31$2,718,369
Assets. Value of participant loans2016-12-31$80,499
Total contributions received or receivable from employer(s)2016-12-31$160,281
Value of certain deemed distributions of participant loans2016-12-31$0
Value of corrective distributions2016-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2016-12-31$166
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2016-12-31$0
2015 : SUMMIT FINANCIAL GROUP, LLC 401(K) PLAN 2015 401k financial data
Total plan liabilities at end of year2015-12-31$0
Total income from all sources2015-12-31$319,917
Expenses. Total of all expenses incurred2015-12-31$18,632
Benefits paid (including direct rollovers)2015-12-31$16,885
Total plan assets at end of year2015-12-31$2,718,369
Total plan assets at beginning of year2015-12-31$2,417,084
Value of fidelity bond covering the plan2015-12-31$300,000
Total contributions received or receivable from participants2015-12-31$147,304
Expenses. Other expenses not covered elsewhere2015-12-31$0
Contributions received from other sources (not participants or employers)2015-12-31$80,631
Other income received2015-12-31$-59,119
Noncash contributions received2015-12-31$0
Net income (gross income less expenses)2015-12-31$301,285
Net plan assets at end of year (total assets less liabilities)2015-12-31$2,718,369
Net plan assets at beginning of year (total assets less liabilities)2015-12-31$2,417,084
Assets. Value of participant loans2015-12-31$85,140
Total contributions received or receivable from employer(s)2015-12-31$151,101
Value of certain deemed distributions of participant loans2015-12-31$0
Value of corrective distributions2015-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2015-12-31$1,747
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2015-12-31$0
2014 : SUMMIT FINANCIAL GROUP, LLC 401(K) PLAN 2014 401k financial data
Total income from all sources2014-12-31$350,931
Expenses. Total of all expenses incurred2014-12-31$61,948
Benefits paid (including direct rollovers)2014-12-31$60,838
Total plan assets at end of year2014-12-31$2,417,084
Total plan assets at beginning of year2014-12-31$2,128,101
Value of fidelity bond covering the plan2014-12-31$300,000
Total contributions received or receivable from participants2014-12-31$151,292
Expenses. Other expenses not covered elsewhere2014-12-31$963
Contributions received from other sources (not participants or employers)2014-12-31$0
Other income received2014-12-31$56,829
Noncash contributions received2014-12-31$0
Net income (gross income less expenses)2014-12-31$288,983
Net plan assets at end of year (total assets less liabilities)2014-12-31$2,417,084
Net plan assets at beginning of year (total assets less liabilities)2014-12-31$2,128,101
Assets. Value of participant loans2014-12-31$56,009
Total contributions received or receivable from employer(s)2014-12-31$142,810
Value of certain deemed distributions of participant loans2014-12-31$0
Value of corrective distributions2014-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2014-12-31$147
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2014-12-31$0
2013 : SUMMIT FINANCIAL GROUP, LLC 401(K) PLAN 2013 401k financial data
Total plan liabilities at beginning of year2013-12-31$0
Total income from all sources2013-12-31$657,993
Expenses. Total of all expenses incurred2013-12-31$79
Total plan assets at end of year2013-12-31$2,128,101
Total plan assets at beginning of year2013-12-31$1,470,187
Value of fidelity bond covering the plan2013-12-31$3,000,000
Total contributions received or receivable from participants2013-12-31$110,241
Contributions received from other sources (not participants or employers)2013-12-31$76,257
Other income received2013-12-31$346,490
Net income (gross income less expenses)2013-12-31$657,914
Net plan assets at end of year (total assets less liabilities)2013-12-31$2,128,101
Net plan assets at beginning of year (total assets less liabilities)2013-12-31$1,470,187
Assets. Value of participant loans2013-12-31$23,986
Total contributions received or receivable from employer(s)2013-12-31$125,005
Expenses. Administrative service providers (salaries,fees and commissions)2013-12-31$79
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2013-12-31$0
2012 : SUMMIT FINANCIAL GROUP, LLC 401(K) PLAN 2012 401k financial data
Total plan liabilities at end of year2012-12-31$0
Total plan liabilities at beginning of year2012-12-31$0
Total income from all sources2012-12-31$342,673
Expenses. Total of all expenses incurred2012-12-31$3,448
Benefits paid (including direct rollovers)2012-12-31$1,402
Total plan assets at end of year2012-12-31$1,470,187
Total plan assets at beginning of year2012-12-31$1,130,962
Value of fidelity bond covering the plan2012-12-31$100,000
Total contributions received or receivable from participants2012-12-31$85,343
Expenses. Other expenses not covered elsewhere2012-12-31$0
Contributions received from other sources (not participants or employers)2012-12-31$1,481
Other income received2012-12-31$127,541
Noncash contributions received2012-12-31$0
Net income (gross income less expenses)2012-12-31$339,225
Net plan assets at end of year (total assets less liabilities)2012-12-31$1,470,187
Net plan assets at beginning of year (total assets less liabilities)2012-12-31$1,130,962
Assets. Value of participant loans2012-12-31$11,419
Total contributions received or receivable from employer(s)2012-12-31$128,308
Value of certain deemed distributions of participant loans2012-12-31$0
Value of corrective distributions2012-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2012-12-31$2,046
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2012-12-31$0
2011 : SUMMIT FINANCIAL GROUP, LLC 401(K) PLAN 2011 401k financial data
Transfers to/from the plan2011-12-31$0
Total plan liabilities at end of year2011-12-31$0
Total plan liabilities at beginning of year2011-12-31$0
Total income from all sources2011-12-31$48,103
Expenses. Total of all expenses incurred2011-12-31$16,128
Benefits paid (including direct rollovers)2011-12-31$15,282
Total plan assets at end of year2011-12-31$1,130,962
Total plan assets at beginning of year2011-12-31$1,098,987
Value of fidelity bond covering the plan2011-12-31$100,000
Total contributions received or receivable from participants2011-12-31$65,146
Expenses. Other expenses not covered elsewhere2011-12-31$846
Contributions received from other sources (not participants or employers)2011-12-31$0
Other income received2011-12-31$-90,518
Noncash contributions received2011-12-31$0
Net income (gross income less expenses)2011-12-31$31,975
Net plan assets at end of year (total assets less liabilities)2011-12-31$1,130,962
Net plan assets at beginning of year (total assets less liabilities)2011-12-31$1,098,987
Assets. Value of participant loans2011-12-31$26,626
Total contributions received or receivable from employer(s)2011-12-31$73,475
Value of certain deemed distributions of participant loans2011-12-31$0
Value of corrective distributions2011-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2011-12-31$0
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2011-12-31$0
2010 : SUMMIT FINANCIAL GROUP, LLC 401(K) PLAN 2010 401k financial data
Transfers to/from the plan2010-12-31$0
Total plan liabilities at end of year2010-12-31$0
Total plan liabilities at beginning of year2010-12-31$0
Total income from all sources2010-12-31$358,948
Expenses. Total of all expenses incurred2010-12-31$587
Benefits paid (including direct rollovers)2010-12-31$0
Total plan assets at end of year2010-12-31$1,098,987
Total plan assets at beginning of year2010-12-31$740,626
Value of fidelity bond covering the plan2010-12-31$100,000
Total contributions received or receivable from participants2010-12-31$59,045
Expenses. Other expenses not covered elsewhere2010-12-31$587
Contributions received from other sources (not participants or employers)2010-12-31$115,934
Other income received2010-12-31$109,589
Noncash contributions received2010-12-31$0
Net income (gross income less expenses)2010-12-31$358,361
Net plan assets at end of year (total assets less liabilities)2010-12-31$1,098,987
Net plan assets at beginning of year (total assets less liabilities)2010-12-31$740,626
Assets. Value of participant loans2010-12-31$31,423
Total contributions received or receivable from employer(s)2010-12-31$74,380
Value of certain deemed distributions of participant loans2010-12-31$0
Value of corrective distributions2010-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2010-12-31$0

Form 5500 Responses for SUMMIT FINANCIAL GROUP, LLC 401(K) PLAN

2017: SUMMIT FINANCIAL GROUP, LLC 401(K) PLAN 2017 form 5500 responses
2017-01-01Type of plan entitySingle employer plan
2017-01-01Submission has been amendedNo
2017-01-01This submission is the final filingNo
2017-01-01This return/report is a short plan year return/report (less than 12 months)No
2017-01-01Plan is a collectively bargained planNo
2017-01-01Plan funding arrangement – InsuranceYes
2017-01-01Plan funding arrangement – TrustYes
2017-01-01Plan benefit arrangement – InsuranceYes
2017-01-01Plan benefit arrangement - TrustYes
2016: SUMMIT FINANCIAL GROUP, LLC 401(K) PLAN 2016 form 5500 responses
2016-01-01Type of plan entitySingle employer plan
2016-01-01Submission has been amendedNo
2016-01-01This submission is the final filingNo
2016-01-01This return/report is a short plan year return/report (less than 12 months)No
2016-01-01Plan is a collectively bargained planNo
2016-01-01Plan funding arrangement – InsuranceYes
2016-01-01Plan funding arrangement – TrustYes
2016-01-01Plan benefit arrangement – InsuranceYes
2016-01-01Plan benefit arrangement - TrustYes
2015: SUMMIT FINANCIAL GROUP, LLC 401(K) PLAN 2015 form 5500 responses
2015-01-01Type of plan entitySingle employer plan
2015-01-01Submission has been amendedNo
2015-01-01This submission is the final filingNo
2015-01-01This return/report is a short plan year return/report (less than 12 months)No
2015-01-01Plan is a collectively bargained planNo
2015-01-01Plan funding arrangement – InsuranceYes
2015-01-01Plan funding arrangement – TrustYes
2015-01-01Plan benefit arrangement – InsuranceYes
2015-01-01Plan benefit arrangement - TrustYes
2014: SUMMIT FINANCIAL GROUP, LLC 401(K) PLAN 2014 form 5500 responses
2014-01-01Type of plan entitySingle employer plan
2014-01-01Submission has been amendedNo
2014-01-01This submission is the final filingNo
2014-01-01This return/report is a short plan year return/report (less than 12 months)No
2014-01-01Plan is a collectively bargained planNo
2014-01-01Plan funding arrangement – InsuranceYes
2014-01-01Plan funding arrangement – TrustYes
2014-01-01Plan benefit arrangement – InsuranceYes
2014-01-01Plan benefit arrangement - TrustYes
2013: SUMMIT FINANCIAL GROUP, LLC 401(K) PLAN 2013 form 5500 responses
2013-01-01Type of plan entitySingle employer plan
2013-01-01Submission has been amendedNo
2013-01-01This submission is the final filingNo
2013-01-01This return/report is a short plan year return/report (less than 12 months)No
2013-01-01Plan is a collectively bargained planNo
2013-01-01Plan funding arrangement – InsuranceYes
2013-01-01Plan funding arrangement – TrustYes
2013-01-01Plan benefit arrangement – InsuranceYes
2013-01-01Plan benefit arrangement - TrustYes
2012: SUMMIT FINANCIAL GROUP, LLC 401(K) PLAN 2012 form 5500 responses
2012-01-01Type of plan entitySingle employer plan
2012-01-01Submission has been amendedNo
2012-01-01This submission is the final filingNo
2012-01-01This return/report is a short plan year return/report (less than 12 months)No
2012-01-01Plan is a collectively bargained planNo
2012-01-01Plan funding arrangement – InsuranceYes
2012-01-01Plan funding arrangement – TrustYes
2012-01-01Plan benefit arrangement – InsuranceYes
2012-01-01Plan benefit arrangement - TrustYes
2011: SUMMIT FINANCIAL GROUP, LLC 401(K) PLAN 2011 form 5500 responses
2011-01-01Type of plan entitySingle employer plan
2011-01-01Submission has been amendedNo
2011-01-01This submission is the final filingNo
2011-01-01This return/report is a short plan year return/report (less than 12 months)No
2011-01-01Plan is a collectively bargained planNo
2011-01-01Plan funding arrangement – InsuranceYes
2011-01-01Plan funding arrangement – TrustYes
2011-01-01Plan benefit arrangement – InsuranceYes
2011-01-01Plan benefit arrangement - TrustYes
2010: SUMMIT FINANCIAL GROUP, LLC 401(K) PLAN 2010 form 5500 responses
2010-01-01Type of plan entitySingle employer plan
2010-01-01Submission has been amendedNo
2010-01-01This submission is the final filingNo
2010-01-01This return/report is a short plan year return/report (less than 12 months)No
2010-01-01Plan is a collectively bargained planNo
2010-01-01Plan funding arrangement – InsuranceYes
2010-01-01Plan funding arrangement – TrustYes
2010-01-01Plan benefit arrangement – InsuranceYes
2010-01-01Plan benefit arrangement - TrustYes
2009: SUMMIT FINANCIAL GROUP, LLC 401(K) PLAN 2009 form 5500 responses
2009-01-01Type of plan entitySingle employer plan
2009-01-01Submission has been amendedYes
2009-01-01This submission is the final filingNo
2009-01-01This return/report is a short plan year return/report (less than 12 months)No
2009-01-01Plan is a collectively bargained planNo
2009-01-01Plan funding arrangement – InsuranceYes
2009-01-01Plan funding arrangement – TrustYes
2009-01-01Plan benefit arrangement – InsuranceYes
2009-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )
Policy contract number106372
Policy instance 1

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