MAGNA ENTERTAINMENT CORP. has sponsored the creation of one or more 401k plans.
Submission information for form 5500 for 401k plan 401(K) PLAN FOR US EMPLOYEES OF MAGNA ENTERTAINMENT CORP.
| Measure | Date | Value |
|---|
| 2011 : 401(K) PLAN FOR US EMPLOYEES OF MAGNA ENTERTAINMENT CORP. 2011 401k financial data |
|---|
| Total unrealized appreciation/depreciation of assets | 2011-09-08 | $0 |
| Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2011-09-08 | $0 |
| Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2011-09-08 | $0 |
| Total income from all sources (including contributions) | 2011-09-08 | $314,218 |
| Total loss/gain on sale of assets | 2011-09-08 | $0 |
| Total of all expenses incurred | 2011-09-08 | $10,022,310 |
| Benefit payments and payments to participlants,beneficiaries,insurance carriers and others | 2011-09-08 | $9,911,987 |
| Expenses. Certain deemed distributions of participant loans | 2011-09-08 | $24,816 |
| Value of total corrective distributions | 2011-09-08 | $42,872 |
| Total contributions o plan (from employers,participants, others, non cash contrinutions) | 2011-09-08 | $169,529 |
| Value of total assets at end of year | 2011-09-08 | $0 |
| Value of total assets at beginning of year | 2011-09-08 | $9,708,092 |
| Total of administrative expenses incurred including professional, contract, advisory and management fees | 2011-09-08 | $42,635 |
| Total interest from all sources | 2011-09-08 | $32,025 |
| Total dividends received (eg from common stock, registered investment company shares) | 2011-09-08 | $2,943 |
| Has a resolution to terminate the plan been adopted during the plan year or any prior plan year | 2011-09-08 | Yes |
| Value of any plan assets that reverted to the employer resulting from resoluton to terminate the plan | 2011-09-08 | $0 |
| Total dividends received from registered investment company shares (eg mutual funds) | 2011-09-08 | $2,943 |
| Was this plan covered by a fidelity bond | 2011-09-08 | Yes |
| Value of fidelity bond cover | 2011-09-08 | $10,000,000 |
| If this is an individual account plan, was there a blackout period | 2011-09-08 | No |
| Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities | 2011-09-08 | $0 |
| Were there any nonexempt tranactions with any party-in-interest | 2011-09-08 | No |
| Contributions received from participants | 2011-09-08 | $115,494 |
| Participant contributions at end of year | 2011-09-08 | $0 |
| Participant contributions at beginning of year | 2011-09-08 | $250,941 |
| Participant contributions at end of year | 2011-09-08 | $0 |
| Participant contributions at beginning of year | 2011-09-08 | $29,375 |
| Income. Received or receivable in cash from other sources (including rollovers) | 2011-09-08 | $14,418 |
| Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser | 2011-09-08 | No |
| Value of net income/loss | 2011-09-08 | $-9,708,092 |
| Value of net assets at end of year (total assets less liabilities) | 2011-09-08 | $0 |
| Value of net assets at beginning of year (total assets less liabilities) | 2011-09-08 | $9,708,092 |
| Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond) | 2011-09-08 | No |
| Were any loans by the plan or fixed income obligations due to the plan in default | 2011-09-08 | No |
| Were any leases to which the plan was party in default or uncollectible | 2011-09-08 | No |
| Investment advisory and management fees | 2011-09-08 | $42,635 |
| Value of interest in registered invesment companies (eg mutual funds) at end of year | 2011-09-08 | $0 |
| Value of interest in registered invesment companies (eg mutual funds) at beginning of year | 2011-09-08 | $1,423,731 |
| Value of interest in pooled separate accounts at end of year | 2011-09-08 | $0 |
| Value of interest in pooled separate accounts at beginning of year | 2011-09-08 | $6,643,201 |
| Interest on participant loans | 2011-09-08 | $5,884 |
| Interest earned on other investments | 2011-09-08 | $26,141 |
| Value of funds held in insurance company general accounts (unallocated contracts) at end of year | 2011-09-08 | $0 |
| Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year | 2011-09-08 | $1,350,422 |
| Net investment gain/loss from registered investment companies (e.g. mutual funds) | 2011-09-08 | $3,506 |
| Net investment gain/loss from pooled separate accounts | 2011-09-08 | $106,215 |
| Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets | 2011-09-08 | No |
| Was there a failure to transmit to the plan any participant contributions | 2011-09-08 | Yes |
| Has the plan failed to provide any benefit when due under the plan | 2011-09-08 | No |
| Contributions received in cash from employer | 2011-09-08 | $39,617 |
| Employer contributions (assets) at end of year | 2011-09-08 | $0 |
| Employer contributions (assets) at beginning of year | 2011-09-08 | $10,422 |
| Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers | 2011-09-08 | $9,911,987 |
| Did the plan have assets held for investment | 2011-09-08 | No |
| Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser | 2011-09-08 | No |
| Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC | 2011-09-08 | Yes |
| Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d) | 2011-09-08 | Yes |
| Opinion of an independent qualified public accountant for this plan | 2011-09-08 | Disclaimer |
| Accountancy firm name | 2011-09-08 | BDO USA, LLP |
| Accountancy firm EIN | 2011-09-08 | 135381590 |
| 2010 : 401(K) PLAN FOR US EMPLOYEES OF MAGNA ENTERTAINMENT CORP. 2010 401k financial data |
|---|
| Total unrealized appreciation/depreciation of assets | 2010-12-31 | $0 |
| Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2010-12-31 | $0 |
| Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2010-12-31 | $0 |
| Total income from all sources (including contributions) | 2010-12-31 | $3,366,139 |
| Total loss/gain on sale of assets | 2010-12-31 | $0 |
| Total of all expenses incurred | 2010-12-31 | $33,780,794 |
| Benefit payments and payments to participlants,beneficiaries,insurance carriers and others | 2010-12-31 | $33,194,523 |
| Expenses. Certain deemed distributions of participant loans | 2010-12-31 | $337,293 |
| Value of total corrective distributions | 2010-12-31 | $228,412 |
| Total contributions o plan (from employers,participants, others, non cash contrinutions) | 2010-12-31 | $1,781,421 |
| Value of total assets at end of year | 2010-12-31 | $9,708,092 |
| Value of total assets at beginning of year | 2010-12-31 | $40,122,747 |
| Total of administrative expenses incurred including professional, contract, advisory and management fees | 2010-12-31 | $20,566 |
| Total interest from all sources | 2010-12-31 | $203,528 |
| Total dividends received (eg from common stock, registered investment company shares) | 2010-12-31 | $26,649 |
| Has a resolution to terminate the plan been adopted during the plan year or any prior plan year | 2010-12-31 | No |
| Total dividends received from registered investment company shares (eg mutual funds) | 2010-12-31 | $26,649 |
| Was this plan covered by a fidelity bond | 2010-12-31 | Yes |
| Value of fidelity bond cover | 2010-12-31 | $10,000,000 |
| If this is an individual account plan, was there a blackout period | 2010-12-31 | No |
| Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities | 2010-12-31 | $0 |
| Were there any nonexempt tranactions with any party-in-interest | 2010-12-31 | No |
| Contributions received from participants | 2010-12-31 | $1,327,814 |
| Participant contributions at end of year | 2010-12-31 | $250,941 |
| Participant contributions at beginning of year | 2010-12-31 | $1,163,277 |
| Participant contributions at end of year | 2010-12-31 | $29,375 |
| Participant contributions at beginning of year | 2010-12-31 | $128,785 |
| Income. Received or receivable in cash from other sources (including rollovers) | 2010-12-31 | $20,689 |
| Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser | 2010-12-31 | No |
| Value of net income/loss | 2010-12-31 | $-30,414,655 |
| Value of net assets at end of year (total assets less liabilities) | 2010-12-31 | $9,708,092 |
| Value of net assets at beginning of year (total assets less liabilities) | 2010-12-31 | $40,122,747 |
| Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond) | 2010-12-31 | No |
| Were any loans by the plan or fixed income obligations due to the plan in default | 2010-12-31 | No |
| Were any leases to which the plan was party in default or uncollectible | 2010-12-31 | No |
| Investment advisory and management fees | 2010-12-31 | $20,566 |
| Value of interest in registered invesment companies (eg mutual funds) at end of year | 2010-12-31 | $1,423,731 |
| Value of interest in registered invesment companies (eg mutual funds) at beginning of year | 2010-12-31 | $5,951,195 |
| Value of interest in pooled separate accounts at end of year | 2010-12-31 | $6,643,201 |
| Value of interest in pooled separate accounts at beginning of year | 2010-12-31 | $24,368,885 |
| Interest on participant loans | 2010-12-31 | $33,402 |
| Interest earned on other investments | 2010-12-31 | $170,126 |
| Value of funds held in insurance company general accounts (unallocated contracts) at end of year | 2010-12-31 | $1,350,422 |
| Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year | 2010-12-31 | $8,469,944 |
| Net investment gain/loss from registered investment companies (e.g. mutual funds) | 2010-12-31 | $-20,931 |
| Net investment gain/loss from pooled separate accounts | 2010-12-31 | $1,375,472 |
| Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets | 2010-12-31 | No |
| Was there a failure to transmit to the plan any participant contributions | 2010-12-31 | Yes |
| Has the plan failed to provide any benefit when due under the plan | 2010-12-31 | No |
| Contributions received in cash from employer | 2010-12-31 | $432,918 |
| Employer contributions (assets) at end of year | 2010-12-31 | $10,422 |
| Employer contributions (assets) at beginning of year | 2010-12-31 | $40,661 |
| Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers | 2010-12-31 | $33,194,523 |
| Did the plan have assets held for investment | 2010-12-31 | Yes |
| Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser | 2010-12-31 | No |
| Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC | 2010-12-31 | No |
| Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d) | 2010-12-31 | Yes |
| Opinion of an independent qualified public accountant for this plan | 2010-12-31 | Disclaimer |
| Accountancy firm name | 2010-12-31 | BDO USA, LLP |
| Accountancy firm EIN | 2010-12-31 | 135381590 |
| 2009 : 401(K) PLAN FOR US EMPLOYEES OF MAGNA ENTERTAINMENT CORP. 2009 401k financial data |
|---|
| Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities | 2009-12-31 | $0 |
