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WEST TEXAS HAIRCUTS, INC. 401(K) PLAN 401k Plan overview

Plan NameWEST TEXAS HAIRCUTS, INC. 401(K) PLAN
Plan identification number 001

WEST TEXAS HAIRCUTS, INC. 401(K) PLAN 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.
  • Participant-directed brokerage accounts provided as an investment option under the plan.
  • Plan covering Self-Employed individuals.
  • 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

WEST TEXAS HAIRCUTS, INC. has sponsored the creation of one or more 401k plans.

Company Name:WEST TEXAS HAIRCUTS, INC.
Employer identification number (EIN):833285366
NAIC Classification:812111
NAIC Description:Barber Shops

Additional information about WEST TEXAS HAIRCUTS, INC.

Jurisdiction of Incorporation: Texas Secretary of State
Incorporation Date: 2019-01-22
Company Identification Number: 0803216102
Legal Registered Office Address: 1900 TWO DEER TRL

AMARILLO
United States of America (USA)
79124

More information about WEST TEXAS HAIRCUTS, INC.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan WEST TEXAS HAIRCUTS, INC. 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012024-01-01MICHAEL CRAIG GRAHAM
0012023-01-01
0012023-01-01MICHAEL CRAIG GRAHAM
0012023-01-01MICHAEL CRAIG GRAHAM
0012022-01-01
0012022-01-01MICHAEL CRAIG GRAHAM
0012021-01-01
0012021-01-01MICHAEL CRAIG GRAHAM
0012020-01-01
0012019-01-23
0012019-01-23

Financial Data on WEST TEXAS HAIRCUTS, INC. 401(K) PLAN

Measure Date Value
2023 : WEST TEXAS HAIRCUTS, INC. 401(K) PLAN 2023 401k financial data
Transfers to/from the plan2023-12-31$0
Total plan liabilities at beginning of year2023-12-31$0
Total income from all sources2023-12-31$207,852
Expenses. Total of all expenses incurred2023-12-31$0
Benefits paid (including direct rollovers)2023-12-31$0
Total plan assets at end of year2023-12-31$453,510
Total plan assets at beginning of year2023-12-31$245,658
Value of fidelity bond covering the plan2023-12-31$250,000
Total contributions received or receivable from participants2023-12-31$7,958
Expenses. Other expenses not covered elsewhere2023-12-31$0
Contributions received from other sources (not participants or employers)2023-12-31$0
Other income received2023-12-31$194,383
Noncash contributions received2023-12-31$0
Net income (gross income less expenses)2023-12-31$207,852
Net plan assets at end of year (total assets less liabilities)2023-12-31$453,510
Net plan assets at beginning of year (total assets less liabilities)2023-12-31$245,658
Assets. Value of employer securities2023-12-31$437,549
Total contributions received or receivable from employer(s)2023-12-31$5,511
Value of certain deemed distributions of participant loans2023-12-31$0
Value of corrective distributions2023-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2023-12-31$0
2022 : WEST TEXAS HAIRCUTS, INC. 401(K) PLAN 2022 401k financial data
Transfers to/from the plan2022-12-31$0
Total plan liabilities at beginning of year2022-12-31$0
Total income from all sources2022-12-31$-207,320
Expenses. Total of all expenses incurred2022-12-31$440
Benefits paid (including direct rollovers)2022-12-31$440
Total plan assets at end of year2022-12-31$245,658
Total plan assets at beginning of year2022-12-31$453,418
Value of fidelity bond covering the plan2022-12-31$250,000
Total contributions received or receivable from participants2022-12-31$0
Expenses. Other expenses not covered elsewhere2022-12-31$0
Contributions received from other sources (not participants or employers)2022-12-31$0
Other income received2022-12-31$-210,764
Noncash contributions received2022-12-31$0
Net income (gross income less expenses)2022-12-31$-207,760
Net plan assets at end of year (total assets less liabilities)2022-12-31$245,658
Net plan assets at beginning of year (total assets less liabilities)2022-12-31$453,418
Assets. Value of employer securities2022-12-31$243,166
Total contributions received or receivable from employer(s)2022-12-31$3,444
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$0
2021 : WEST TEXAS HAIRCUTS, INC. 401(K) PLAN 2021 401k financial data
Transfers to/from the plan2021-12-31$0
Total plan liabilities at end of year2021-12-31$0
Total plan liabilities at beginning of year2021-12-31$0
Total income from all sources2021-12-31$-84,304
Expenses. Total of all expenses incurred2021-12-31$0
Benefits paid (including direct rollovers)2021-12-31$0
Total plan assets at end of year2021-12-31$453,418
Total plan assets at beginning of year2021-12-31$537,722
Value of fidelity bond covering the plan2021-12-31$250,000
Total contributions received or receivable from participants2021-12-31$0
Expenses. Other expenses not covered elsewhere2021-12-31$0
Contributions received from other sources (not participants or employers)2021-12-31$0
Other income received2021-12-31$-84,304
Noncash contributions received2021-12-31$0
Net income (gross income less expenses)2021-12-31$-84,304
Net plan assets at end of year (total assets less liabilities)2021-12-31$453,418
Net plan assets at beginning of year (total assets less liabilities)2021-12-31$537,722
Assets. Value of employer securities2021-12-31$453,418
Total contributions received or receivable from employer(s)2021-12-31$0
Value of certain deemed distributions of participant loans2021-12-31$0
Value of corrective distributions2021-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2021-12-31$0
2020 : WEST TEXAS HAIRCUTS, INC. 401(K) PLAN 2020 401k financial data
Transfers to/from the plan2020-12-31$0
Total plan liabilities at end of year2020-12-31$0
Total plan liabilities at beginning of year2020-12-31$0
Total income from all sources2020-12-31$369,625
Expenses. Total of all expenses incurred2020-12-31$0
Benefits paid (including direct rollovers)2020-12-31$0
Total plan assets at end of year2020-12-31$537,722
Total plan assets at beginning of year2020-12-31$168,097
Value of fidelity bond covering the plan2020-12-31$250,000
Total contributions received or receivable from participants2020-12-31$0
Expenses. Other expenses not covered elsewhere2020-12-31$0
Contributions received from other sources (not participants or employers)2020-12-31$0
Other income received2020-12-31$369,625
Noncash contributions received2020-12-31$0
Net income (gross income less expenses)2020-12-31$369,625
Net plan assets at end of year (total assets less liabilities)2020-12-31$537,722
Net plan assets at beginning of year (total assets less liabilities)2020-12-31$168,097
Assets. Value of employer securities2020-12-31$537,722
Total contributions received or receivable from employer(s)2020-12-31$0
Value of certain deemed distributions of participant loans2020-12-31$0
Value of corrective distributions2020-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2020-12-31$0
2019 : WEST TEXAS HAIRCUTS, INC. 401(K) PLAN 2019 401k financial data
Total plan liabilities at end of year2019-12-31$0
Total plan liabilities at beginning of year2019-12-31$0
Total income from all sources2019-12-31$324,065
Expenses. Total of all expenses incurred2019-12-31$0
Benefits paid (including direct rollovers)2019-12-31$0
Total plan assets at end of year2019-12-31$324,065
Total plan assets at beginning of year2019-12-31$0
Value of fidelity bond covering the plan2019-12-31$250,000
Total contributions received or receivable from participants2019-12-31$0
Expenses. Other expenses not covered elsewhere2019-12-31$0
Contributions received from other sources (not participants or employers)2019-12-31$234,475
Other income received2019-12-31$89,590
Noncash contributions received2019-12-31$0
Net income (gross income less expenses)2019-12-31$324,065
Net plan assets at end of year (total assets less liabilities)2019-12-31$324,065
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$0
Assets. Value of employer securities2019-12-31$324,065
Total contributions received or receivable from employer(s)2019-12-31$0
Value of certain deemed distributions of participant loans2019-12-31$0
Value of corrective distributions2019-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2019-12-31$0

Form 5500 Responses for WEST TEXAS HAIRCUTS, INC. 401(K) PLAN

2023: WEST TEXAS HAIRCUTS, INC. 401(K) PLAN 2023 form 5500 responses
2023-01-01Type of plan entitySingle employer plan
2023-01-01Submission has been amendedNo
2023-01-01This submission is the final filingNo
2023-01-01This return/report is a short plan year return/report (less than 12 months)No
2023-01-01Plan is a collectively bargained planNo
2023-01-01Plan funding arrangement – TrustYes
2023-01-01Plan benefit arrangement - TrustYes
2022: WEST TEXAS HAIRCUTS, INC. 401(K) 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 filingNo
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: WEST TEXAS HAIRCUTS, INC. 401(K) 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: WEST TEXAS HAIRCUTS, INC. 401(K) 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: WEST TEXAS HAIRCUTS, INC. 401(K) PLAN 2019 form 5500 responses
2019-01-23Type of plan entitySingle employer plan
2019-01-23First time form 5500 has been submittedYes
2019-01-23Submission has been amendedNo
2019-01-23This submission is the final filingNo
2019-01-23This return/report is a short plan year return/report (less than 12 months)Yes
2019-01-23Plan is a collectively bargained planNo
2019-01-23Plan funding arrangement – TrustYes
2019-01-23Plan benefit arrangement - TrustYes

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