401k Plan data: CAROLINA FINANCIAL, INC. DEFINED BENEFIT PLAN plan

CAROLINA FINANCIAL, INC. DEFINED BENEFIT PLAN 401k Plan overview

Plan Name	CAROLINA FINANCIAL, INC. DEFINED BENEFIT PLAN
Plan identification number	002

CAROLINA FINANCIAL, INC. DEFINED BENEFIT PLAN Benefits

401k Plan Type

Defined Benefit Pension

Plan Features/Benefits

Benefits are primarily pay related
Covered by PBGC - Plan is covered under the PBGC insurance program (see ERISA section 4021).
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

CAROLINA FINANCIAL INCORPORATED has sponsored the creation of one or more 401k plans.

Company Name: CAROLINA FINANCIAL INCORPORATED

Employer identification number (EIN): 561914874

NAIC Classification: 523120
NAIC Description: Securities Brokerage

Form 5500 Filing Information

Submission information for form 5500 for 401k plan CAROLINA FINANCIAL, INC. DEFINED BENEFIT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator Signed Name of Company Sponsor Date Sponsor Signed
002 2018-01-01
002 2016-01-01
002 2015-01-01
002 2014-01-01
002 2013-01-01
002 2012-01-01 WILLIAM F. BOUNDS, JR. 2013-10-15 WILLIAM F. BOUNDS, JR. 2013-10-15
002 2011-01-01 WILLIAM F. BOUNDS, JR. 2012-07-03 WILLIAM F. BOUNDS, JR. 2012-07-03
002 2010-01-01 WILLIAM F. BOUNDS, JR. 2011-07-08 WILLIAM F. BOUNDS, JR. 2011-07-08

Plan id#	Filing Submission Date	Name of Administrator	Date Administrator Signed	Name of Company Sponsor	Date Sponsor Signed
002	2018-01-01
002	2016-01-01
002	2015-01-01
002	2014-01-01
002	2013-01-01
002	2012-01-01	WILLIAM F. BOUNDS, JR.	2013-10-15	WILLIAM F. BOUNDS, JR.	2013-10-15
002	2011-01-01	WILLIAM F. BOUNDS, JR.	2012-07-03	WILLIAM F. BOUNDS, JR.	2012-07-03
002	2010-01-01	WILLIAM F. BOUNDS, JR.	2011-07-08	WILLIAM F. BOUNDS, JR.	2011-07-08

Plan Statistics for CAROLINA FINANCIAL, INC. DEFINED BENEFIT PLAN

401k plan membership statisitcs for CAROLINA FINANCIAL, INC. DEFINED BENEFIT PLAN

Measure Date Value
2018: CAROLINA FINANCIAL, INC. DEFINED BENEFIT PLAN 2018 401k membership
Market value of plan assets 2018-12-31 1,480,486
Acturial value of plan assets 2018-12-31 1,480,486
Funding target for retired participants and beneficiaries receiving payment 2018-12-31 0
Number of terminated vested participants 2018-12-31 0
Fundng target for terminated vested participants 2018-12-31 0
Active participant vested funding target 2018-12-31 1,284,191
Number of active participants 2018-12-31 1
Total funding liabilities for active participants 2018-12-31 1,284,191
Total participant count 2018-12-31 1
Total funding target for all participants 2018-12-31 1,284,191
Balance at beginning of prior year after applicable adjustments 2018-12-31 0
Prefunding balance at beginning of prior year after applicable adjustments 2018-12-31 31,477
Carryover balanced portion elected for use to offset prior years funding requirement 2018-12-31 0
Prefunding balanced used to offset prior years funding requirement 2018-12-31 0
Amount remaining of carryover balance 2018-12-31 0
Amount remaining of prefunding balance 2018-12-31 31,477
Present value of excess contributions 2018-12-31 104,907
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance 2018-12-31 110,971
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance 2018-12-31 0
Reductions in caryover balances due to elections or deemed elections 2018-12-31 0
Reductions in prefunding balances due to elections or deemed elections 2018-12-31 0
Balance of carryovers at beginning of current year 2018-12-31 0
Balance of prefunding at beginning of current year 2018-12-31 32,859
Total employer contributions 2018-12-31 210,000
Total employee contributions 2018-12-31 0
Contributions allocated toward unpaid minimum require contributions from prior years 2018-12-31 0
Contributions made to avoid restrictions adjusted to valuation date 2018-12-31 0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date 2018-12-31 197,346
Unpaid minimum required contributions for all prior years 2018-12-31 0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years 2018-12-31 0
Remaining amount of unpaid minimum required contributions 2018-12-31 0
Minimum required contributions for current year target normal cost 2018-12-31 142,689
Net shortfall amortization installment of oustanding balance 2018-12-31 0
Waiver amortization installment 2018-12-31 0
Total funding amount beforereflecting carryover/prefunding balances 2018-12-31 0
Carryover balance elected to use to offset funding requirement 2018-12-31 0
Prefunding balance elected to use to offset funding requirement 2018-12-31 0
Additional cash requirement 2018-12-31 0
Contributions allocatedtoward minimum required contributions for current year 2018-12-31 197,346
Unpaid minimum required contributions for current year 2018-12-31 0
Unpaid minimum required contributions for all years 2018-12-31 0
2016: CAROLINA FINANCIAL, INC. DEFINED BENEFIT PLAN 2016 401k membership
Market value of plan assets 2016-12-31 1,114,695
Acturial value of plan assets 2016-12-31 1,114,695
Funding target for retired participants and beneficiaries receiving payment 2016-12-31 0
Number of terminated vested participants 2016-12-31 0
Fundng target for terminated vested participants 2016-12-31 0
Active participant vested funding target 2016-12-31 861,375
Number of active participants 2016-12-31 1
Total funding liabilities for active participants 2016-12-31 861,375
Total participant count 2016-12-31 1
Total funding target for all participants 2016-12-31 861,375
Balance at beginning of prior year after applicable adjustments 2016-12-31 0
Prefunding balance at beginning of prior year after applicable adjustments 2016-12-31 30,771
Carryover balanced portion elected for use to offset prior years funding requirement 2016-12-31 0
Prefunding balanced used to offset prior years funding requirement 2016-12-31 0
Amount remaining of carryover balance 2016-12-31 0
Amount remaining of prefunding balance 2016-12-31 30,771
Present value of excess contributions 2016-12-31 188,178
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance 2016-12-31 199,676
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance 2016-12-31 0
Reductions in caryover balances due to elections or deemed elections 2016-12-31 0
Reductions in prefunding balances due to elections or deemed elections 2016-12-31 0
Balance of carryovers at beginning of current year 2016-12-31 0
Balance of prefunding at beginning of current year 2016-12-31 29,303
Total employer contributions 2016-12-31 115,000
Total employee contributions 2016-12-31 0
Contributions allocated toward unpaid minimum require contributions from prior years 2016-12-31 0
Contributions made to avoid restrictions adjusted to valuation date 2016-12-31 0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date 2016-12-31 108,140
Unpaid minimum required contributions for all prior years 2016-12-31 0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years 2016-12-31 0
Remaining amount of unpaid minimum required contributions 2016-12-31 0
Minimum required contributions for current year target normal cost 2016-12-31 123,053
Net shortfall amortization installment of oustanding balance 2016-12-31 0
Waiver amortization installment 2016-12-31 0
Waived amount of outstanding balance 2016-12-31 0
Total funding amount beforereflecting carryover/prefunding balances 2016-12-31 0
Carryover balance elected to use to offset funding requirement 2016-12-31 0
Prefunding balance elected to use to offset funding requirement 2016-12-31 0
Additional cash requirement 2016-12-31 0
Contributions allocatedtoward minimum required contributions for current year 2016-12-31 108,140
Unpaid minimum required contributions for current year 2016-12-31 0
Unpaid minimum required contributions for all years 2016-12-31 0

Measure	Date	Value
2018: CAROLINA FINANCIAL, INC. DEFINED BENEFIT PLAN 2018 401k membership
Market value of plan assets	2018-12-31	1,480,486
Acturial value of plan assets	2018-12-31	1,480,486
Funding target for retired participants and beneficiaries receiving payment	2018-12-31	0
Number of terminated vested participants	2018-12-31	0
Fundng target for terminated vested participants	2018-12-31	0
Active participant vested funding target	2018-12-31	1,284,191
Number of active participants	2018-12-31	1
Total funding liabilities for active participants	2018-12-31	1,284,191
Total participant count	2018-12-31	1
Total funding target for all participants	2018-12-31	1,284,191
Balance at beginning of prior year after applicable adjustments	2018-12-31	0
Prefunding balance at beginning of prior year after applicable adjustments	2018-12-31	31,477
Carryover balanced portion elected for use to offset prior years funding requirement	2018-12-31	0
Prefunding balanced used to offset prior years funding requirement	2018-12-31	0
Amount remaining of carryover balance	2018-12-31	0
Amount remaining of prefunding balance	2018-12-31	31,477
Present value of excess contributions	2018-12-31	104,907
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2018-12-31	110,971
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance	2018-12-31	0
Reductions in caryover balances due to elections or deemed elections	2018-12-31	0
Reductions in prefunding balances due to elections or deemed elections	2018-12-31	0
Balance of carryovers at beginning of current year	2018-12-31	0
Balance of prefunding at beginning of current year	2018-12-31	32,859
Total employer contributions	2018-12-31	210,000
Total employee contributions	2018-12-31	0
Contributions allocated toward unpaid minimum require contributions from prior years	2018-12-31	0
Contributions made to avoid restrictions adjusted to valuation date	2018-12-31	0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date	2018-12-31	197,346
Unpaid minimum required contributions for all prior years	2018-12-31	0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years	2018-12-31	0
Remaining amount of unpaid minimum required contributions	2018-12-31	0
Minimum required contributions for current year target normal cost	2018-12-31	142,689
Net shortfall amortization installment of oustanding balance	2018-12-31	0
Waiver amortization installment	2018-12-31	0
Total funding amount beforereflecting carryover/prefunding balances	2018-12-31	0
Carryover balance elected to use to offset funding requirement	2018-12-31	0
Prefunding balance elected to use to offset funding requirement	2018-12-31	0
Additional cash requirement	2018-12-31	0
Contributions allocatedtoward minimum required contributions for current year	2018-12-31	197,346
Unpaid minimum required contributions for current year	2018-12-31	0
Unpaid minimum required contributions for all years	2018-12-31	0
2016: CAROLINA FINANCIAL, INC. DEFINED BENEFIT PLAN 2016 401k membership
Market value of plan assets	2016-12-31	1,114,695
Acturial value of plan assets	2016-12-31	1,114,695
Funding target for retired participants and beneficiaries receiving payment	2016-12-31	0
Number of terminated vested participants	2016-12-31	0
Fundng target for terminated vested participants	2016-12-31	0
Active participant vested funding target	2016-12-31	861,375
Number of active participants	2016-12-31	1
Total funding liabilities for active participants	2016-12-31	861,375
Total participant count	2016-12-31	1
Total funding target for all participants	2016-12-31	861,375
Balance at beginning of prior year after applicable adjustments	2016-12-31	0
Prefunding balance at beginning of prior year after applicable adjustments	2016-12-31	30,771
Carryover balanced portion elected for use to offset prior years funding requirement	2016-12-31	0
Prefunding balanced used to offset prior years funding requirement	2016-12-31	0
Amount remaining of carryover balance	2016-12-31	0
Amount remaining of prefunding balance	2016-12-31	30,771
Present value of excess contributions	2016-12-31	188,178
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2016-12-31	199,676
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance	2016-12-31	0
Reductions in caryover balances due to elections or deemed elections	2016-12-31	0
Reductions in prefunding balances due to elections or deemed elections	2016-12-31	0
Balance of carryovers at beginning of current year	2016-12-31	0
Balance of prefunding at beginning of current year	2016-12-31	29,303
Total employer contributions	2016-12-31	115,000
Total employee contributions	2016-12-31	0
Contributions allocated toward unpaid minimum require contributions from prior years	2016-12-31	0
Contributions made to avoid restrictions adjusted to valuation date	2016-12-31	0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date	2016-12-31	108,140
Unpaid minimum required contributions for all prior years	2016-12-31	0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years	2016-12-31	0
Remaining amount of unpaid minimum required contributions	2016-12-31	0
Minimum required contributions for current year target normal cost	2016-12-31	123,053
Net shortfall amortization installment of oustanding balance	2016-12-31	0
Waiver amortization installment	2016-12-31	0
Waived amount of outstanding balance	2016-12-31	0
Total funding amount beforereflecting carryover/prefunding balances	2016-12-31	0
Carryover balance elected to use to offset funding requirement	2016-12-31	0
Prefunding balance elected to use to offset funding requirement	2016-12-31	0
Additional cash requirement	2016-12-31	0
Contributions allocatedtoward minimum required contributions for current year	2016-12-31	108,140
Unpaid minimum required contributions for current year	2016-12-31	0
Unpaid minimum required contributions for all years	2016-12-31	0

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Company Name:	CAROLINA FINANCIAL INCORPORATED
Employer identification number (EIN):	561914874
NAIC Classification:	523120
NAIC Description:	Securities Brokerage