PARALLEL TECHNOLOGIES INC has sponsored the creation of one or more 401k plans.
Submission information for form 5500 for 401k plan PARALLEL TECHNOLOGIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN
401k plan membership statisitcs for PARALLEL TECHNOLOGIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN
| Measure | Date | Value |
|---|
| 2021: PARALLEL TECHNOLOGIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2021 401k membership |
|---|
| Total participants, beginning-of-year | 2021-01-01 | 37 |
| Total number of active participants reported on line 7a of the Form 5500 | 2021-01-01 | 0 |
| Number of retired or separated participants receiving benefits | 2021-01-01 | 0 |
| Number of other retired or separated participants entitled to future benefits | 2021-01-01 | 0 |
| Total of all active and inactive participants | 2021-01-01 | 0 |
| Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits | 2021-01-01 | 0 |
| Total participants | 2021-01-01 | 0 |
| Number of participants with account balances | 2021-01-01 | 0 |
| Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested | 2021-01-01 | 0 |
| 2020: PARALLEL TECHNOLOGIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2020 401k membership |
|---|
| Total participants, beginning-of-year | 2020-07-01 | 38 |
| Total number of active participants reported on line 7a of the Form 5500 | 2020-07-01 | 37 |
| Number of retired or separated participants receiving benefits | 2020-07-01 | 0 |
| Number of other retired or separated participants entitled to future benefits | 2020-07-01 | 0 |
| Total of all active and inactive participants | 2020-07-01 | 37 |
| Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits | 2020-07-01 | 0 |
| Total participants | 2020-07-01 | 37 |
| Number of participants with account balances | 2020-07-01 | 37 |
| Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested | 2020-07-01 | 0 |
| Measure | Date | Value |
|---|
| 2021 : PARALLEL TECHNOLOGIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2021 401k financial data |
|---|
| Transfers to/from the plan | 2021-12-31 | $9,846,287 |
| Total plan liabilities at end of year | 2021-12-31 | $0 |
| Total plan liabilities at beginning of year | 2021-12-31 | $12,531,507 |
| Total income from all sources | 2021-12-31 | $0 |
| Expenses. Total of all expenses incurred | 2021-12-31 | $0 |
| Total plan assets at end of year | 2021-12-31 | $0 |
| Total plan assets at beginning of year | 2021-12-31 | $2,685,220 |
| Value of fidelity bond covering the plan | 2021-12-31 | $2,000,000 |
| Net income (gross income less expenses) | 2021-12-31 | $0 |
| Net plan assets at end of year (total assets less liabilities) | 2021-12-31 | $0 |
| Net plan assets at beginning of year (total assets less liabilities) | 2021-12-31 | $-9,846,287 |
| Assets. Value of employer securities | 2021-12-31 | $0 |
| Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities | 2021-12-31 | $0 |
| 2020 : PARALLEL TECHNOLOGIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2020 401k financial data |
|---|
| Total plan liabilities at end of year | 2020-12-31 | $12,531,507 |
| Total plan liabilities at beginning of year | 2020-12-31 | $0 |
| Total income from all sources | 2020-12-31 | $-9,814,780 |
| Expenses. Total of all expenses incurred | 2020-12-31 | $31,507 |
| Total plan assets at end of year | 2020-12-31 | $2,685,220 |
| Total plan assets at beginning of year | 2020-12-31 | $0 |
| Value of fidelity bond covering the plan | 2020-12-31 | $2,000,000 |
| Expenses. Other expenses not covered elsewhere | 2020-12-31 | $31,507 |
| Other income received | 2020-12-31 | $-10,346,287 |
| Net income (gross income less expenses) | 2020-12-31 | $-9,846,287 |
| Net plan assets at end of year (total assets less liabilities) | 2020-12-31 | $-9,846,287 |
| Net plan assets at beginning of year (total assets less liabilities) | 2020-12-31 | $0 |
| Assets. Value of employer securities | 2020-12-31 | $2,153,713 |
| Total contributions received or receivable from employer(s) | 2020-12-31 | $531,507 |
| Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities | 2020-12-31 | $0 |
| 2021: PARALLEL TECHNOLOGIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2021 form 5500 responses |
|---|
| 2021-01-01 | Type of plan entity | Single employer plan |
| 2021-01-01 | Submission has been amended | No |
| 2021-01-01 | This submission is the final filing | Yes |
| 2021-01-01 | This return/report is a short plan year return/report (less than 12 months) | No |
| 2021-01-01 | Plan is a collectively bargained plan | No |
| 2021-01-01 | Plan funding arrangement – Trust | Yes |
| 2021-01-01 | Plan benefit arrangement - Trust | Yes |
| 2020: PARALLEL TECHNOLOGIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2020 form 5500 responses |
|---|
| 2020-07-01 | Type of plan entity | Single employer plan |
| 2020-07-01 | First time form 5500 has been submitted | Yes |
| 2020-07-01 | Submission has been amended | No |
| 2020-07-01 | This submission is the final filing | No |
| 2020-07-01 | This return/report is a short plan year return/report (less than 12 months) | Yes |
| 2020-07-01 | Plan is a collectively bargained plan | No |
| 2020-07-01 | Plan funding arrangement – Trust | Yes |
| 2020-07-01 | Plan benefit arrangement - Trust | Yes |
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