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THE BANKS LAW FIRM 401(K) PLAN 401k Plan overview

Plan NameTHE BANKS LAW FIRM 401(K) PLAN
Plan identification number 001

THE BANKS LAW FIRM 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

THE BANKS LAW FIRM, P.A. has sponsored the creation of one or more 401k plans.

Company Name:THE BANKS LAW FIRM, P.A.
Employer identification number (EIN):631109198
NAIC Classification:541110
NAIC Description:Offices of Lawyers

Form 5500 Filing Information

Submission information for form 5500 for 401k plan THE BANKS LAW FIRM 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01ASHLEA THOMSEN2024-05-06
0012022-01-01ASHLEA THOMSEN2023-07-13
0012021-01-01ASHLEA THOMSEN2022-07-05
0012020-01-01THERESA POOLE2021-08-24 THERESA POOLE2021-08-24
0012019-01-01THERESA POOLE2020-10-06 THERESA POOLE2020-10-06
0012018-01-01THERESA POOLE2019-10-09
0012017-01-01THERESA POOLE2018-07-19 THERESA POOLE2018-07-19
0012016-01-01THERESA POOLE2017-06-09 THERESA POOLE2017-06-09
0012015-01-01THERESA POOLE2016-06-15 THERESA POOLE2016-06-15
0012014-01-01THERESA POOLE2015-07-24 THERESA POOLE2015-07-24
0012013-01-01THERESA POOLE2014-07-24 THERESA POOLE2014-07-24
0012012-01-01THERESA POOLE2013-05-28 THERESA POOLE2013-05-28
0012011-01-01THERESA POOLE2012-07-24
0012010-01-01THERESA POOLE2011-06-24

Financial Data on THE BANKS LAW FIRM 401(K) PLAN

Measure Date Value
2025 : THE BANKS LAW FIRM 401(K) PLAN 2025 401k financial data
Total expenses incurred by plan in this plan year2025-09-2410689
Net assets as of the end of the plan year2025-09-243664419
Total assets as of the beginning of the plan year2025-09-242952758
Value of plan covered by a fidelity bond2025-09-24295275
Value of participant loans at end of plan year2025-09-2441178
Other contributions to plan in this plan year2025-09-24107363
Other income to plan in this plan year2025-09-24197357
Plan net income in this plan year2025-09-24711661
Net assets as of the end of the plan year2025-09-243664419
Net assets as of the beginning of the plan year2025-09-242952758
Employer contributions to plan in this plan year2025-09-24417630
Expensese paid to adminstrative service provicers from plan in this plan year2025-09-2410689
2024 : THE BANKS LAW FIRM 401(K) PLAN 2024 401k financial data
Total liabilities as of the beginning of the plan year2024-05-060
Total expenses incurred by plan in this plan year2024-05-06113292
Net assets as of the end of the plan year2024-05-063017384
Total assets as of the beginning of the plan year2024-05-062438573
Value of plan covered by a fidelity bond2024-05-06340000
Participant contributions to plan in this plan year2024-05-06135299
Value of participant loans at end of plan year2024-05-0664626
Other expenses paid from plan in this plan year2024-05-060
Other contributions to plan in this plan year2024-05-0668564
Other income to plan in this plan year2024-05-06402456
Plan net income in this plan year2024-05-06578811
Net assets as of the end of the plan year2024-05-063017384
Net assets as of the beginning of the plan year2024-05-062438573
Employer contributions to plan in this plan year2024-05-0685784
Fees paid to broker by Benefit Provider2024-05-0612705
Expensese paid to adminstrative service provicers from plan in this plan year2024-05-0610497
2022 : THE BANKS LAW FIRM 401(K) PLAN 2022 401k financial data
Total expenses incurred by plan in this plan year2022-07-05236118
Net assets as of the end of the plan year2022-07-052904731
Total assets as of the beginning of the plan year2022-07-052525089
Value of plan covered by a fidelity bond2022-07-05340000
Participant contributions to plan in this plan year2022-07-05181448
Other income to plan in this plan year2022-07-05353903
Plan net income in this plan year2022-07-05379642
Net assets as of the end of the plan year2022-07-052904731
Net assets as of the beginning of the plan year2022-07-052525089
Employer contributions to plan in this plan year2022-07-0580409
Fees paid to broker by Benefit Provider2022-07-0512901
Expensese paid to adminstrative service provicers from plan in this plan year2022-07-059977

Potentially related plans

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