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CITIZENS TELEPHONE COMPANY EMPLOYEE STOCK OWNERSHIP PLAN 401k Plan overview

Plan NameCITIZENS TELEPHONE COMPANY EMPLOYEE STOCK OWNERSHIP PLAN
Plan identification number 001

CITIZENS TELEPHONE COMPANY EMPLOYEE STOCK OWNERSHIP PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Profit-sharing
  • Stock bonus
  • Leveraged ESOP - An ESOP that acquires employer securities with borrowed money or other debt-financing techniques. A completed Schedule E must be attached to a Form 5500 filed for an ESOP.
  • The employer maintaining this ESOP is an S Corporation

401k Sponsoring company profile

CITIZENS COMMUNICATIONS CORPORATION has sponsored the creation of one or more 401k plans.

Company Name:CITIZENS COMMUNICATIONS CORPORATION
Employer identification number (EIN):431694120
NAIC Classification:517000

Form 5500 Filing Information

Submission information for form 5500 for 401k plan CITIZENS TELEPHONE COMPANY EMPLOYEE STOCK OWNERSHIP PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01BRIAN L. CORNELIUS2023-03-31
0012021-01-01BRIAN L. CORNELIUS2022-07-25
0012020-01-01BRIAN L. CORNELIUS2021-10-13
0012019-01-01BRIAN L. CORNELIUS2020-07-21

Financial Data on CITIZENS TELEPHONE COMPANY EMPLOYEE STOCK OWNERSHIP PLAN

Measure Date Value
2022 : CITIZENS TELEPHONE COMPANY EMPLOYEE STOCK OWNERSHIP PLAN 2022 401k financial data
Total plan liabilities at end of year2022-12-31$0
Total plan liabilities at beginning of year2022-12-31$0
Total income from all sources2022-12-31$-9,049
Expenses. Total of all expenses incurred2022-12-31$188,448
Benefits paid (including direct rollovers)2022-12-31$186,337
Total plan assets at end of year2022-12-31$0
Total plan assets at beginning of year2022-12-31$197,497
Value of fidelity bond covering the plan2022-12-31$1,000,000
Expenses. Other expenses not covered elsewhere2022-12-31$2,111
Other income received2022-12-31$-9,049
Net income (gross income less expenses)2022-12-31$-197,497
Net plan assets at end of year (total assets less liabilities)2022-12-31$0
Net plan assets at beginning of year (total assets less liabilities)2022-12-31$197,497
2021 : CITIZENS TELEPHONE COMPANY EMPLOYEE STOCK OWNERSHIP PLAN 2021 401k financial data
Total plan liabilities at end of year2021-12-31$0
Total plan liabilities at beginning of year2021-12-31$1,686,674
Total income from all sources2021-12-31$1,811,573
Expenses. Total of all expenses incurred2021-12-31$5,666,797
Benefits paid (including direct rollovers)2021-12-31$5,666,797
Total plan assets at end of year2021-12-31$197,497
Total plan assets at beginning of year2021-12-31$5,739,395
Value of fidelity bond covering the plan2021-12-31$1,000,000
Other income received2021-12-31$1,811,573
Net income (gross income less expenses)2021-12-31$-3,855,224
Net plan assets at end of year (total assets less liabilities)2021-12-31$197,497
Net plan assets at beginning of year (total assets less liabilities)2021-12-31$4,052,721
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2021-12-31$0
2020 : CITIZENS TELEPHONE COMPANY EMPLOYEE STOCK OWNERSHIP PLAN 2020 401k financial data
Total plan liabilities at end of year2020-12-31$1,686,674
Total plan liabilities at beginning of year2020-12-31$1,686,674
Total income from all sources2020-12-31$3,349,886
Expenses. Total of all expenses incurred2020-12-31$40,486,766
Benefits paid (including direct rollovers)2020-12-31$40,486,766
Total plan assets at end of year2020-12-31$5,739,395
Total plan assets at beginning of year2020-12-31$42,876,275
Value of fidelity bond covering the plan2020-12-31$1,000,000
Other income received2020-12-31$3,349,886
Net income (gross income less expenses)2020-12-31$-37,136,880
Net plan assets at end of year (total assets less liabilities)2020-12-31$4,052,721
Net plan assets at beginning of year (total assets less liabilities)2020-12-31$41,189,601
Assets. Value of employer securities2020-12-31$2,568,007
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2020-12-31$0
2019 : CITIZENS TELEPHONE COMPANY EMPLOYEE STOCK OWNERSHIP PLAN 2019 401k financial data
Total plan liabilities at end of year2019-12-31$1,686,674
Total plan liabilities at beginning of year2019-12-31$1,771,008
Total income from all sources2019-12-31$15,886,072
Expenses. Total of all expenses incurred2019-12-31$440,807
Benefits paid (including direct rollovers)2019-12-31$440,807
Total plan assets at end of year2019-12-31$42,876,275
Total plan assets at beginning of year2019-12-31$27,515,344
Value of fidelity bond covering the plan2019-12-31$1,000,000
Other income received2019-12-31$14,748,389
Net income (gross income less expenses)2019-12-31$15,445,265
Net plan assets at end of year (total assets less liabilities)2019-12-31$41,189,601
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$25,744,336
Assets. Value of employer securities2019-12-31$25,587,305
Total contributions received or receivable from employer(s)2019-12-31$1,137,683
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2019-12-31$0

Form 5500 Responses for CITIZENS TELEPHONE COMPANY EMPLOYEE STOCK OWNERSHIP PLAN

2022: CITIZENS TELEPHONE COMPANY EMPLOYEE STOCK OWNERSHIP PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01Submission has been amendedNo
2022-01-01This submission is the final filingYes
2022-01-01This return/report is a short plan year return/report (less than 12 months)No
2022-01-01Plan is a collectively bargained planNo
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement - TrustYes
2021: CITIZENS TELEPHONE COMPANY EMPLOYEE STOCK OWNERSHIP PLAN 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01Submission has been amendedNo
2021-01-01This submission is the final filingNo
2021-01-01This return/report is a short plan year return/report (less than 12 months)No
2021-01-01Plan is a collectively bargained planNo
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement - TrustYes
2020: CITIZENS TELEPHONE COMPANY EMPLOYEE STOCK OWNERSHIP PLAN 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
2020-01-01Submission has been amendedNo
2020-01-01This submission is the final filingNo
2020-01-01This return/report is a short plan year return/report (less than 12 months)No
2020-01-01Plan is a collectively bargained planNo
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement - TrustYes
2019: CITIZENS TELEPHONE COMPANY EMPLOYEE STOCK OWNERSHIP PLAN 2019 form 5500 responses
2019-01-01Type of plan entitySingle employer plan
2019-01-01Submission has been amendedNo
2019-01-01This submission is the final filingNo
2019-01-01This return/report is a short plan year return/report (less than 12 months)No
2019-01-01Plan is a collectively bargained planNo
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement - TrustYes

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