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LAKE NORMAN TIRE LLC 401k Plan overview

Plan NameLAKE NORMAN TIRE LLC
Plan identification number 001

LAKE NORMAN TIRE LLC Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • 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.

401k Sponsoring company profile

LAKE NORMAN TIRE LLC has sponsored the creation of one or more 401k plans.

Company Name:LAKE NORMAN TIRE LLC
Employer identification number (EIN):832687077
NAIC Classification:441300
NAIC Description: Automotive Parts, Accessories, and Tire Stores

Form 5500 Filing Information

Submission information for form 5500 for 401k plan LAKE NORMAN TIRE LLC

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01SHIRLEY HORNER2024-09-13
0012022-01-01KENNETH SILVERMAN2024-02-09
0012021-01-01KENNETH SILVERMAN2022-08-13

Financial Data on LAKE NORMAN TIRE LLC

Measure Date Value
2025 : LAKE NORMAN TIRE LLC 2025 401k financial data
Total expenses incurred by plan in this plan year2025-11-22128984
Net assets as of the end of the plan year2025-11-220
Total assets as of the beginning of the plan year2025-11-22127056
Value of plan covered by a fidelity bond2025-11-2213000
Other income to plan in this plan year2025-11-221928
Plan net income in this plan year2025-11-22-127056
Net assets as of the end of the plan year2025-11-220
Net assets as of the beginning of the plan year2025-11-22127056
Expensese paid to adminstrative service provicers from plan in this plan year2025-11-22339
Total expenses incurred by plan in this plan year2025-07-1822068
Net assets as of the end of the plan year2025-07-18127056
Total assets as of the beginning of the plan year2025-07-18133125
Value of plan covered by a fidelity bond2025-07-1814000
Participant contributions to plan in this plan year2025-07-183886
Value of participant loans at end of plan year2025-07-180
Other income to plan in this plan year2025-07-1812113
Plan net income in this plan year2025-07-18-6069
Net assets as of the end of the plan year2025-07-18127056
Net assets as of the beginning of the plan year2025-07-18133125
Expensese paid to adminstrative service provicers from plan in this plan year2025-07-181014
2024 : LAKE NORMAN TIRE LLC 2024 401k financial data
Total expenses incurred by plan in this plan year2024-09-1314168
Net assets as of the end of the plan year2024-09-13133125
Total assets as of the beginning of the plan year2024-09-13114122
Value of plan covered by a fidelity bond2024-09-1312000
Participant contributions to plan in this plan year2024-09-1316506
Value of participant loans at end of plan year2024-09-131500
Other income to plan in this plan year2024-09-1316665
Plan net income in this plan year2024-09-1319003
Net assets as of the end of the plan year2024-09-13133125
Net assets as of the beginning of the plan year2024-09-13114122
Expensese paid to adminstrative service provicers from plan in this plan year2024-09-13948

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