401k Plan data: FORBES ENERGY SERVICES, LLC 401(K) PLAN plan

FORBES ENERGY SERVICES, LLC 401(K) PLAN 401k Plan overview

Plan Name	FORBES ENERGY SERVICES, LLC 401(K) PLAN
Plan identification number	002

FORBES ENERGY SERVICES, LLC 401(K) PLAN Benefits

401k Plan Type

Defined Contribution Pension

Plan Features/Benefits

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.
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

FORBES ENERGY SERVICES, LLC has sponsored the creation of one or more 401k plans.

Company Name: FORBES ENERGY SERVICES, LLC

Employer identification number (EIN): 261686176

NAIC Classification: 324190

Form 5500 Filing Information

Submission information for form 5500 for 401k plan FORBES ENERGY SERVICES, LLC 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator Signed Name of Company Sponsor Date Sponsor Signed
002 2021-01-01 MICHELLE WHITE 2022-07-20
002 2020-01-01
002 2019-01-01
002 2019-01-01

Plan Statistics for FORBES ENERGY SERVICES, LLC 401(K) PLAN

401k plan membership statisitcs for FORBES ENERGY SERVICES, LLC 401(K) PLAN

Measure Date Value
2021: FORBES ENERGY SERVICES, LLC 401(K) PLAN 2021 401k membership
Total participants, beginning-of-year 2021-01-01 100
Total number of active participants reported on line 7a of the Form 5500 2021-01-01 0
Total of all active and inactive participants 2021-01-01 0
Total participants 2021-01-01 0
2020: FORBES ENERGY SERVICES, LLC 401(K) PLAN 2020 401k membership
Total participants, beginning-of-year 2020-01-01 826
Total number of active participants reported on line 7a of the Form 5500 2020-01-01 315
Number of retired or separated participants receiving benefits 2020-01-01 0
Number of other retired or separated participants entitled to future benefits 2020-01-01 41
Total of all active and inactive participants 2020-01-01 356
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2020-01-01 0
Total participants 2020-01-01 356
Number of participants with account balances 2020-01-01 148
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2020-01-01 0
2019: FORBES ENERGY SERVICES, LLC 401(K) PLAN 2019 401k membership
Total participants, beginning-of-year 2019-01-01 1,173
Total number of active participants reported on line 7a of the Form 5500 2019-01-01 837
Number of retired or separated participants receiving benefits 2019-01-01 0
Number of other retired or separated participants entitled to future benefits 2019-01-01 27
Total of all active and inactive participants 2019-01-01 864
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2019-01-01 0
Total participants 2019-01-01 864
Number of participants with account balances 2019-01-01 165
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2019-01-01 0

Measure	Date	Value
2021: FORBES ENERGY SERVICES, LLC 401(K) PLAN 2021 401k membership
Total participants, beginning-of-year	2021-01-01	100
Total number of active participants reported on line 7a of the Form 5500	2021-01-01	0
Total of all active and inactive participants	2021-01-01	0
Total participants	2021-01-01	0
2020: FORBES ENERGY SERVICES, LLC 401(K) PLAN 2020 401k membership
Total participants, beginning-of-year	2020-01-01	826
Total number of active participants reported on line 7a of the Form 5500	2020-01-01	315
Number of retired or separated participants receiving benefits	2020-01-01	0
Number of other retired or separated participants entitled to future benefits	2020-01-01	41
Total of all active and inactive participants	2020-01-01	356
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2020-01-01	0
Total participants	2020-01-01	356
Number of participants with account balances	2020-01-01	148
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2020-01-01	0
2019: FORBES ENERGY SERVICES, LLC 401(K) PLAN 2019 401k membership
Total participants, beginning-of-year	2019-01-01	1,173
Total number of active participants reported on line 7a of the Form 5500	2019-01-01	837
Number of retired or separated participants receiving benefits	2019-01-01	0
Number of other retired or separated participants entitled to future benefits	2019-01-01	27
Total of all active and inactive participants	2019-01-01	864
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2019-01-01	0
Total participants	2019-01-01	864
Number of participants with account balances	2019-01-01	165
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2019-01-01	0

Financial Data on FORBES ENERGY SERVICES, LLC 401(K) PLAN

Measure	Date	Value
2021 : FORBES ENERGY SERVICES, LLC 401(K) PLAN 2021 401k financial data
Total income from all sources	2021-12-31	$448,255
Expenses. Total of all expenses incurred	2021-12-31	$4,256,437
Benefits paid (including direct rollovers)	2021-12-31	$4,154,349
Total plan assets at beginning of year	2021-12-31	$3,808,182
Value of fidelity bond covering the plan	2021-12-31	$381,000
Total contributions received or receivable from participants	2021-12-31	$102,657
Expenses. Other expenses not covered elsewhere	2021-12-31	$51,687
Other income received	2021-12-31	$345,598
Net income (gross income less expenses)	2021-12-31	$-3,808,182
Net plan assets at beginning of year (total assets less liabilities)	2021-12-31	$3,808,182
Value of certain deemed distributions of participant loans	2021-12-31	$11,348
Value of corrective distributions	2021-12-31	$39,053
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2021-12-31	$0
2020 : FORBES ENERGY SERVICES, LLC 401(K) PLAN 2020 401k financial data
Total unrealized appreciation/depreciation of assets	2020-12-31	$0
Total transfer of assets to this plan	2020-12-31	$0
Total transfer of assets from this plan	2020-12-31	$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2020-12-31	$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2020-12-31	$0
Total income from all sources (including contributions)	2020-12-31	$816,608
Total loss/gain on sale of assets	2020-12-31	$0
Total of all expenses incurred	2020-12-31	$2,079,016
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2020-12-31	$1,913,995
Expenses. Certain deemed distributions of participant loans	2020-12-31	$34,658
Value of total corrective distributions	2020-12-31	$86,344
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2020-12-31	$362,490
Value of total assets at end of year	2020-12-31	$3,808,182
Value of total assets at beginning of year	2020-12-31	$5,070,590
Total of administrative expenses incurred including professional, contract, advisory and management fees	2020-12-31	$44,019
Total interest from all sources	2020-12-31	$6,908
Total dividends received (eg from common stock, registered investment company shares)	2020-12-31	$140,625
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2020-12-31	No
Total dividends received from registered investment company shares (eg mutual funds)	2020-12-31	$140,625
Was this plan covered by a fidelity bond	2020-12-31	Yes
Value of fidelity bond cover	2020-12-31	$500,000
If this is an individual account plan, was there a blackout period	2020-12-31	No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2020-12-31	$0
Were there any nonexempt tranactions with any party-in-interest	2020-12-31	No
Contributions received from participants	2020-12-31	$362,490
Participant contributions at end of year	2020-12-31	$85,327
Participant contributions at beginning of year	2020-12-31	$216,106
Other income not declared elsewhere	2020-12-31	$383
Administrative expenses (other) incurred	2020-12-31	$44,019
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2020-12-31	No
Value of net income/loss	2020-12-31	$-1,262,408
Value of net assets at end of year (total assets less liabilities)	2020-12-31	$3,808,182
Value of net assets at beginning of year (total assets less liabilities)	2020-12-31	$5,070,590
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2020-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2020-12-31	No
Were any leases to which the plan was party in default or uncollectible	2020-12-31	No
Value of interest in registered invesment companies (eg mutual funds) at end of year	2020-12-31	$3,722,855
Value of interest in registered invesment companies (eg mutual funds) at beginning of year	2020-12-31	$4,854,484
Interest on participant loans	2020-12-31	$6,908
Net investment gain/loss from registered investment companies (e.g. mutual funds)	2020-12-31	$306,202
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2020-12-31	No
Was there a failure to transmit to the plan any participant contributions	2020-12-31	No
Has the plan failed to provide any benefit when due under the plan	2020-12-31	No
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2020-12-31	$1,913,995
Did the plan have assets held for investment	2020-12-31	Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser	2020-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2020-12-31	No
Opinion of an independent qualified public accountant for this plan	2020-12-31	Unqualified
Accountancy firm name	2020-12-31	HAM, LANGSTON, & BREZINA, LLP
Accountancy firm EIN	2020-12-31	760448495
2019 : FORBES ENERGY SERVICES, LLC 401(K) PLAN 2019 401k financial data
Total unrealized appreciation/depreciation of assets	2019-12-31	$0
Total transfer of assets from this plan	2019-12-31	$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2019-12-31	$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2019-12-31	$0
Total income from all sources (including contributions)	2019-12-31	$1,494,893
Total loss/gain on sale of assets	2019-12-31	$0
Total of all expenses incurred	2019-12-31	$1,069,623
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2019-12-31	$1,029,134
Expenses. Certain deemed distributions of participant loans	2019-12-31	$8
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2019-12-31	$657,371
Value of total assets at end of year	2019-12-31	$5,070,590
Value of total assets at beginning of year	2019-12-31	$4,645,320
Total of administrative expenses incurred including professional, contract, advisory and management fees	2019-12-31	$40,481
Total interest from all sources	2019-12-31	$389
Total dividends received (eg from common stock, registered investment company shares)	2019-12-31	$132,992
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2019-12-31	No
Total dividends received from registered investment company shares (eg mutual funds)	2019-12-31	$132,992
Was this plan covered by a fidelity bond	2019-12-31	Yes
Value of fidelity bond cover	2019-12-31	$400,000
If this is an individual account plan, was there a blackout period	2019-12-31	Yes
Were there any nonexempt tranactions with any party-in-interest	2019-12-31	No
Contributions received from participants	2019-12-31	$657,371
Participant contributions at end of year	2019-12-31	$216,106
Participant contributions at beginning of year	2019-12-31	$165,083
Administrative expenses (other) incurred	2019-12-31	$40,481
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2019-12-31	No
Value of net income/loss	2019-12-31	$425,270
Value of net assets at end of year (total assets less liabilities)	2019-12-31	$5,070,590
Value of net assets at beginning of year (total assets less liabilities)	2019-12-31	$4,645,320
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2019-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2019-12-31	No
Were any leases to which the plan was party in default or uncollectible	2019-12-31	No
Value of interest in registered invesment companies (eg mutual funds) at end of year	2019-12-31	$4,854,484
Value of interest in registered invesment companies (eg mutual funds) at beginning of year	2019-12-31	$4,475,124
Interest on participant loans	2019-12-31	$389
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year	2019-12-31	$5,113
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year	2019-12-31	$5,113
Net investment gain/loss from registered investment companies (e.g. mutual funds)	2019-12-31	$704,141
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2019-12-31	No
Was there a failure to transmit to the plan any participant contributions	2019-12-31	No
Has the plan failed to provide any benefit when due under the plan	2019-12-31	No
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2019-12-31	$1,029,134
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-3	2019-12-31	Yes
Did the plan have assets held for investment	2019-12-31	Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser	2019-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2019-12-31	No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)	2019-12-31	Yes
Opinion of an independent qualified public accountant for this plan	2019-12-31	Disclaimer
Accountancy firm name	2019-12-31	HAM, LANGSTON, & BREZINA, LLP
Accountancy firm EIN	2019-12-31	760448495

Form 5500 Responses for FORBES ENERGY SERVICES, LLC 401(K) PLAN

2021: FORBES ENERGY SERVICES, LLC 401(K) PLAN 2021 form 5500 responses
2021-01-01	Type of plan entity	Single employer plan
2021-01-01	This submission is the final filing	Yes
2021-01-01	Plan funding arrangement – Trust	Yes
2021-01-01	Plan benefit arrangement - Trust	Yes
2020: FORBES ENERGY SERVICES, LLC 401(K) PLAN 2020 form 5500 responses
2020-01-01	Type of plan entity	Single employer plan
2020-01-01	Submission has been amended	No
2020-01-01	This submission is the final filing	No
2020-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2020-01-01	Plan is a collectively bargained plan	No
2020-01-01	Plan funding arrangement – Trust	Yes
2020-01-01	Plan benefit arrangement - Trust	Yes
2019: FORBES ENERGY SERVICES, LLC 401(K) PLAN 2019 form 5500 responses
2019-01-01	Type of plan entity	Single employer plan
2019-01-01	Submission has been amended	No
2019-01-01	This submission is the final filing	No
2019-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2019-01-01	Plan is a collectively bargained plan	No
2019-01-01	Plan funding arrangement – Trust	Yes
2019-01-01	Plan benefit arrangement - Trust	Yes

Potentially related plans

Was this data useful?

If you found the data here useful, PLEASE HELP US. We are a start-up and believe in making information freely available. By linking to us, posting on twitter, facebook and linkedin about us and generally spreading the word, you'll help us to grow. Our vision is to provide high quality data about the activities of all the companies in the world and where possible make it free to use and view. Finding and integrating data from thousands of data sources is time consuming and needs lots of effort. By simply spreading the word about us, you will help us. Please use the share buttons. It will only take a few seconds of your time. Thanks for helping

Information Disclaimer

The information provided on this website is not advice, endorsement or recommendation
The information published is supplied by third parties so we make no warranty on the accuracy, completeness etc. This information is provided "as-is". The information is subject to change as we obtain updates and corrections from the primary information sources.
You are free to use the information for your own personal research on the understanding to do so is at your own risk.

See full terms and conditions

Company Name:	FORBES ENERGY SERVICES, LLC
Employer identification number (EIN):	261686176
NAIC Classification:	324190

Plan id#	Filing Submission Date	Name of Administrator	Date Administrator Signed
002	2021-01-01	MICHELLE WHITE	2022-07-20
002	2020-01-01
002	2019-01-01
002	2019-01-01