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B & B COLLISION REPAIR 401(K) PLAN 401k Plan overview

Plan NameB & B COLLISION REPAIR 401(K) PLAN
Plan identification number 001

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

401k Sponsoring company profile

B & B COLLISION REPAIR has sponsored the creation of one or more 401k plans.

Company Name:B & B COLLISION REPAIR
Employer identification number (EIN):461638027
NAIC Classification:811120
NAIC Description: Automotive Body, Paint, Interior, and Glass Repair

Form 5500 Filing Information

Submission information for form 5500 for 401k plan B & B COLLISION REPAIR 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01
0012021-01-01
0012020-01-01ANDY ANDERSON2021-06-08
0012019-01-01ANDY ANDERSON2020-03-24
0012018-01-01ANDY ANDERSON2019-09-23
0012017-01-01ANDY ANDERSON2018-07-18 ANDY ANDERSON2018-07-18
0012016-01-01ANDY ANDERSON2017-05-12 ANDY ANDERSON2017-05-12
0012015-01-01ANDY ANDERSON2016-05-25
0012014-01-01ANDY ANDERSON2015-07-15
0012013-01-01ANDY ANDERSON2014-09-04
0012012-06-01ANDY ANDERSON2013-07-25

Plan Statistics for B & B COLLISION REPAIR 401(K) PLAN

401k plan membership statisitcs for B & B COLLISION REPAIR 401(K) PLAN

Measure Date Value
2022: B & B COLLISION REPAIR 401(K) PLAN 2022 401k membership
Total participants, beginning-of-year2022-01-0125
Total number of active participants reported on line 7a of the Form 55002022-01-0118
Number of retired or separated participants receiving benefits2022-01-016
Number of other retired or separated participants entitled to future benefits2022-01-010
Total of all active and inactive participants2022-01-0124
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-0124
Number of participants with account balances2022-01-0120
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-010
2021: B & B COLLISION REPAIR 401(K) PLAN 2021 401k membership
Total participants, beginning-of-year2021-01-0122
Total number of active participants reported on line 7a of the Form 55002021-01-0117
Number of retired or separated participants receiving benefits2021-01-010
Number of other retired or separated participants entitled to future benefits2021-01-018
Total of all active and inactive participants2021-01-0125
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-010
Total participants2021-01-0125
Number of participants with account balances2021-01-0123
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-010

Financial Data on B & B COLLISION REPAIR 401(K) PLAN

Measure Date Value
2022 : B & B COLLISION REPAIR 401(K) PLAN 2022 401k financial data
Transfers to/from the plan2022-12-31$0
Total plan liabilities at end of year2022-12-31$0
Total plan liabilities at beginning of year2022-12-31$0
Total income from all sources2022-12-31$-103,337
Expenses. Total of all expenses incurred2022-12-31$583,506
Benefits paid (including direct rollovers)2022-12-31$574,861
Total plan assets at end of year2022-12-31$1,088,411
Total plan assets at beginning of year2022-12-31$1,775,254
Value of fidelity bond covering the plan2022-12-31$170,000
Total contributions received or receivable from participants2022-12-31$132,326
Expenses. Other expenses not covered elsewhere2022-12-31$1,235
Contributions received from other sources (not participants or employers)2022-12-31$0
Other income received2022-12-31$-288,668
Noncash contributions received2022-12-31$0
Net income (gross income less expenses)2022-12-31$-686,843
Net plan assets at end of year (total assets less liabilities)2022-12-31$1,088,411
Net plan assets at beginning of year (total assets less liabilities)2022-12-31$1,775,254
Assets. Value of participant loans2022-12-31$37,027
Total contributions received or receivable from employer(s)2022-12-31$53,005
Value of certain deemed distributions of participant loans2022-12-31$0
Value of corrective distributions2022-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2022-12-31$7,410
2021 : B & B COLLISION REPAIR 401(K) PLAN 2021 401k financial data
Total income from all sources2021-12-31$403,095
Expenses. Total of all expenses incurred2021-12-31$41,845
Benefits paid (including direct rollovers)2021-12-31$33,386
Total plan assets at end of year2021-12-31$1,775,254
Total plan assets at beginning of year2021-12-31$1,414,004
Value of fidelity bond covering the plan2021-12-31$75,000
Total contributions received or receivable from participants2021-12-31$121,113
Expenses. Other expenses not covered elsewhere2021-12-31$1,778
Other income received2021-12-31$233,661
Net income (gross income less expenses)2021-12-31$361,250
Net plan assets at end of year (total assets less liabilities)2021-12-31$1,775,254
Net plan assets at beginning of year (total assets less liabilities)2021-12-31$1,414,004
Assets. Value of participant loans2021-12-31$3,777
Total contributions received or receivable from employer(s)2021-12-31$48,321
Expenses. Administrative service providers (salaries,fees and commissions)2021-12-31$6,681

Form 5500 Responses for B & B COLLISION REPAIR 401(K) PLAN

2022: B & B COLLISION REPAIR 401(K) PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement - TrustYes
2021: B & B COLLISION REPAIR 401(K) PLAN 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01Plan funding arrangement – InsuranceYes
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement – InsuranceYes
2021-01-01Plan benefit arrangement - TrustYes

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