401k Plan data: BUSINESS FINANCIAL SERVICES, INC. RETIREMENT SAVINGS PLAN plan

BUSINESS FINANCIAL SERVICES, INC. RETIREMENT SAVINGS PLAN 401k Plan overview

Plan Name	BUSINESS FINANCIAL SERVICES, INC. RETIREMENT SAVINGS PLAN
Plan identification number	002

BUSINESS FINANCIAL SERVICES, INC. RETIREMENT SAVINGS PLAN Benefits

401k Plan Type

Defined 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

BUSINESS FINANCIAL SERVICES, INC. has sponsored the creation of one or more 401k plans.

Company Name: BUSINESS FINANCIAL SERVICES, INC.

Employer identification number (EIN): 043621790

NAIC Classification: 522130
NAIC Description: Credit Unions

Form 5500 Filing Information

Submission information for form 5500 for 401k plan BUSINESS FINANCIAL SERVICES, INC. RETIREMENT SAVINGS PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator Signed Name of Company Sponsor Date Sponsor Signed
002 2022-01-01 MARK RUDDOCK 2023-03-26
002 2021-01-01 MARK RUDDOCK 2022-09-29
002 2020-01-01 HANNAH NOBLE 2021-10-14
002 2020-01-01 HANNAH NOBLE 2021-11-01
002 2019-01-01
002 2018-01-01
002 2017-01-01 TAMMY CARTWRIGHT
002 2016-01-01 TAMMY CARTWRIGHT
002 2015-01-01 TAMMY CARTWRIGHT 2016-07-19
002 2014-01-01 TAMMY CARTWRIGHT 2015-07-27
002 2013-01-01 TAMMY CARTWRIGHT 2014-07-24
002 2012-01-01 TAMMY CARTWRIGHT 2013-07-25 ROBIN QUINTERO 2013-07-25
002 2011-01-01 TAMMY CARTWRIGHT 2012-07-13
002 2010-01-01 ROBIN QUINTERO 2011-10-07

Plan id#	Filing Submission Date	Name of Administrator	Date Administrator Signed	Name of Company Sponsor	Date Sponsor Signed
002	2022-01-01	MARK RUDDOCK	2023-03-26
002	2021-01-01	MARK RUDDOCK	2022-09-29
002	2020-01-01	HANNAH NOBLE	2021-10-14
002	2020-01-01	HANNAH NOBLE	2021-11-01
002	2019-01-01
002	2018-01-01
002	2017-01-01	TAMMY CARTWRIGHT
002	2016-01-01	TAMMY CARTWRIGHT
002	2015-01-01	TAMMY CARTWRIGHT	2016-07-19
002	2014-01-01	TAMMY CARTWRIGHT	2015-07-27
002	2013-01-01	TAMMY CARTWRIGHT	2014-07-24
002	2012-01-01	TAMMY CARTWRIGHT	2013-07-25	ROBIN QUINTERO	2013-07-25
002	2011-01-01	TAMMY CARTWRIGHT	2012-07-13
002	2010-01-01	ROBIN QUINTERO	2011-10-07

Plan Statistics for BUSINESS FINANCIAL SERVICES, INC. RETIREMENT SAVINGS PLAN

401k plan membership statisitcs for BUSINESS FINANCIAL SERVICES, INC. RETIREMENT SAVINGS PLAN

Measure Date Value
2021: BUSINESS FINANCIAL SERVICES, INC. RETIREMENT SAVINGS PLAN 2021 401k membership
Total participants, beginning-of-year 2021-01-01 107
Total number of active participants reported on line 7a of the Form 5500 2021-01-01 19
Number of retired or separated participants receiving benefits 2021-01-01 0
Number of other retired or separated participants entitled to future benefits 2021-01-01 81
Total of all active and inactive participants 2021-01-01 100
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2021-01-01 0
Total participants 2021-01-01 100
Number of participants with account balances 2021-01-01 97
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2021-01-01 8
2020: BUSINESS FINANCIAL SERVICES, INC. RETIREMENT SAVINGS PLAN 2020 401k membership
Total participants, beginning-of-year 2020-01-01 170
Total number of active participants reported on line 7a of the Form 5500 2020-01-01 40
Number of retired or separated participants receiving benefits 2020-01-01 0
Number of other retired or separated participants entitled to future benefits 2020-01-01 66
Total of all active and inactive participants 2020-01-01 106
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2020-01-01 0
Total participants 2020-01-01 106
Number of participants with account balances 2020-01-01 94
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2020-01-01 0
2019: BUSINESS FINANCIAL SERVICES, INC. RETIREMENT SAVINGS PLAN 2019 401k membership
Total participants, beginning-of-year 2019-01-01 170
Total number of active participants reported on line 7a of the Form 5500 2019-01-01 121
Number of retired or separated participants receiving benefits 2019-01-01 0
Number of other retired or separated participants entitled to future benefits 2019-01-01 49
Total of all active and inactive participants 2019-01-01 170
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2019-01-01 0
Total participants 2019-01-01 170
Number of participants with account balances 2019-01-01 110
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2019-01-01 0
2018: BUSINESS FINANCIAL SERVICES, INC. RETIREMENT SAVINGS PLAN 2018 401k membership
Total participants, beginning-of-year 2018-01-01 177
Total number of active participants reported on line 7a of the Form 5500 2018-01-01 119
Number of retired or separated participants receiving benefits 2018-01-01 0
Number of other retired or separated participants entitled to future benefits 2018-01-01 45
Total of all active and inactive participants 2018-01-01 164
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2018-01-01 0
Total participants 2018-01-01 164
Number of participants with account balances 2018-01-01 110
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2018-01-01 0
2017: BUSINESS FINANCIAL SERVICES, INC. RETIREMENT SAVINGS PLAN 2017 401k membership
Total participants, beginning-of-year 2017-01-01 159
Total number of active participants reported on line 7a of the Form 5500 2017-01-01 113
Number of retired or separated participants receiving benefits 2017-01-01 0
Number of other retired or separated participants entitled to future benefits 2017-01-01 39
Total of all active and inactive participants 2017-01-01 152
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2017-01-01 0
Total participants 2017-01-01 152
Number of participants with account balances 2017-01-01 101
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2017-01-01 0
2016: BUSINESS FINANCIAL SERVICES, INC. RETIREMENT SAVINGS PLAN 2016 401k membership
Total participants, beginning-of-year 2016-01-01 138
Total number of active participants reported on line 7a of the Form 5500 2016-01-01 123
Number of retired or separated participants receiving benefits 2016-01-01 0
Number of other retired or separated participants entitled to future benefits 2016-01-01 20
Total of all active and inactive participants 2016-01-01 143
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2016-01-01 0
Total participants 2016-01-01 143
Number of participants with account balances 2016-01-01 98
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2016-01-01 0

Measure	Date	Value
2021: BUSINESS FINANCIAL SERVICES, INC. RETIREMENT SAVINGS PLAN 2021 401k membership
Total participants, beginning-of-year	2021-01-01	107
Total number of active participants reported on line 7a of the Form 5500	2021-01-01	19
Number of retired or separated participants receiving benefits	2021-01-01	0
Number of other retired or separated participants entitled to future benefits	2021-01-01	81
Total of all active and inactive participants	2021-01-01	100
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2021-01-01	0
Total participants	2021-01-01	100
Number of participants with account balances	2021-01-01	97
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2021-01-01	8
2020: BUSINESS FINANCIAL SERVICES, INC. RETIREMENT SAVINGS PLAN 2020 401k membership
Total participants, beginning-of-year	2020-01-01	170
Total number of active participants reported on line 7a of the Form 5500	2020-01-01	40
Number of retired or separated participants receiving benefits	2020-01-01	0
Number of other retired or separated participants entitled to future benefits	2020-01-01	66
Total of all active and inactive participants	2020-01-01	106
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2020-01-01	0
Total participants	2020-01-01	106
Number of participants with account balances	2020-01-01	94
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2020-01-01	0
2019: BUSINESS FINANCIAL SERVICES, INC. RETIREMENT SAVINGS PLAN 2019 401k membership
Total participants, beginning-of-year	2019-01-01	170
Total number of active participants reported on line 7a of the Form 5500	2019-01-01	121
Number of retired or separated participants receiving benefits	2019-01-01	0
Number of other retired or separated participants entitled to future benefits	2019-01-01	49
Total of all active and inactive participants	2019-01-01	170
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2019-01-01	0
Total participants	2019-01-01	170
Number of participants with account balances	2019-01-01	110
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2019-01-01	0
2018: BUSINESS FINANCIAL SERVICES, INC. RETIREMENT SAVINGS PLAN 2018 401k membership
Total participants, beginning-of-year	2018-01-01	177
Total number of active participants reported on line 7a of the Form 5500	2018-01-01	119
Number of retired or separated participants receiving benefits	2018-01-01	0
Number of other retired or separated participants entitled to future benefits	2018-01-01	45
Total of all active and inactive participants	2018-01-01	164
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2018-01-01	0
Total participants	2018-01-01	164
Number of participants with account balances	2018-01-01	110
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2018-01-01	0
2017: BUSINESS FINANCIAL SERVICES, INC. RETIREMENT SAVINGS PLAN 2017 401k membership
Total participants, beginning-of-year	2017-01-01	159
Total number of active participants reported on line 7a of the Form 5500	2017-01-01	113
Number of retired or separated participants receiving benefits	2017-01-01	0
Number of other retired or separated participants entitled to future benefits	2017-01-01	39
Total of all active and inactive participants	2017-01-01	152
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2017-01-01	0
Total participants	2017-01-01	152
Number of participants with account balances	2017-01-01	101
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2017-01-01	0
2016: BUSINESS FINANCIAL SERVICES, INC. RETIREMENT SAVINGS PLAN 2016 401k membership
Total participants, beginning-of-year	2016-01-01	138
Total number of active participants reported on line 7a of the Form 5500	2016-01-01	123
Number of retired or separated participants receiving benefits	2016-01-01	0
Number of other retired or separated participants entitled to future benefits	2016-01-01	20
Total of all active and inactive participants	2016-01-01	143
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2016-01-01	0
Total participants	2016-01-01	143
Number of participants with account balances	2016-01-01	98
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2016-01-01	0

Financial Data on BUSINESS FINANCIAL SERVICES, INC. RETIREMENT SAVINGS PLAN

Measure	Date	Value
2021 : BUSINESS FINANCIAL SERVICES, INC. RETIREMENT SAVINGS PLAN 2021 401k financial data
Total unrealized appreciation/depreciation of assets	2021-12-31	$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2021-12-31	$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2021-12-31	$0
Total income from all sources (including contributions)	2021-12-31	$1,023,695
Total loss/gain on sale of assets	2021-12-31	$0
Total of all expenses incurred	2021-12-31	$460,724
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2021-12-31	$433,274
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2021-12-31	$211,329
Value of total assets at end of year	2021-12-31	$5,783,639
Value of total assets at beginning of year	2021-12-31	$5,220,668
Total of administrative expenses incurred including professional, contract, advisory and management fees	2021-12-31	$27,450
Total interest from all sources	2021-12-31	$784
Total dividends received (eg from common stock, registered investment company shares)	2021-12-31	$206,206
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2021-12-31	No
Total dividends received from registered investment company shares (eg mutual funds)	2021-12-31	$206,206
Was this plan covered by a fidelity bond	2021-12-31	Yes
Value of fidelity bond cover	2021-12-31	$1,000,000
If this is an individual account plan, was there a blackout period	2021-12-31	No
Were there any nonexempt tranactions with any party-in-interest	2021-12-31	No
Contributions received from participants	2021-12-31	$129,982
Participant contributions at end of year	2021-12-31	$15,202
Participant contributions at beginning of year	2021-12-31	$45,892
Participant contributions at end of year	2021-12-31	$1,932
Participant contributions at beginning of year	2021-12-31	$4,126
Income. Received or receivable in cash from other sources (including rollovers)	2021-12-31	$1,488
Value of other receiveables (less allowance for doubtful accounts) at end of year	2021-12-31	$245
Value of other receiveables (less allowance for doubtful accounts) at beginning of year	2021-12-31	$732
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2021-12-31	No
Value of net income/loss	2021-12-31	$562,971
Value of net assets at end of year (total assets less liabilities)	2021-12-31	$5,783,639
Value of net assets at beginning of year (total assets less liabilities)	2021-12-31	$5,220,668
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2021-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2021-12-31	No
Were any leases to which the plan was party in default or uncollectible	2021-12-31	No
Investment advisory and management fees	2021-12-31	$6,003
Value of interest in registered invesment companies (eg mutual funds) at end of year	2021-12-31	$5,764,544
Value of interest in registered invesment companies (eg mutual funds) at beginning of year	2021-12-31	$5,166,817
Interest on participant loans	2021-12-31	$784
Net investment gain/loss from registered investment companies (e.g. mutual funds)	2021-12-31	$605,376
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2021-12-31	No
Was there a failure to transmit to the plan any participant contributions	2021-12-31	No
Has the plan failed to provide any benefit when due under the plan	2021-12-31	No
Contributions received in cash from employer	2021-12-31	$79,859
Employer contributions (assets) at end of year	2021-12-31	$1,716
Employer contributions (assets) at beginning of year	2021-12-31	$3,101
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2021-12-31	$433,274
Contract administrator fees	2021-12-31	$21,447
Did the plan have assets held for investment	2021-12-31	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	2021-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2021-12-31	No
Opinion of an independent qualified public accountant for this plan	2021-12-31	Unqualified
Accountancy firm name	2021-12-31	WEINSTEIN ZUGMAN, LLC
Accountancy firm EIN	2021-12-31	200453834
2020 : BUSINESS FINANCIAL SERVICES, INC. RETIREMENT SAVINGS PLAN 2020 401k financial data
Total unrealized appreciation/depreciation of assets	2020-12-31	$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2020-12-31	$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2020-12-31	$0
Total income from all sources (including contributions)	2020-12-31	$1,218,886
Total loss/gain on sale of assets	2020-12-31	$0
Total of all expenses incurred	2020-12-31	$767,984
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2020-12-31	$740,214
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2020-12-31	$553,557
Value of total assets at end of year	2020-12-31	$5,220,668
Value of total assets at beginning of year	2020-12-31	$4,769,766
Total of administrative expenses incurred including professional, contract, advisory and management fees	2020-12-31	$27,770
Total interest from all sources	2020-12-31	$2,189
Total dividends received (eg from common stock, registered investment company shares)	2020-12-31	$152,243
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2020-12-31	No
Total dividends received from registered investment company shares (eg mutual funds)	2020-12-31	$152,243
Was this plan covered by a fidelity bond	2020-12-31	Yes
Value of fidelity bond cover	2020-12-31	$1,000,000
If this is an individual account plan, was there a blackout period	2020-12-31	No
Were there any nonexempt tranactions with any party-in-interest	2020-12-31	No
Contributions received from participants	2020-12-31	$357,838
Participant contributions at end of year	2020-12-31	$45,892
Participant contributions at beginning of year	2020-12-31	$58,285
Participant contributions at end of year	2020-12-31	$4,126
Value of other receiveables (less allowance for doubtful accounts) at end of year	2020-12-31	$732
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2020-12-31	No
Value of net income/loss	2020-12-31	$450,902
Value of net assets at end of year (total assets less liabilities)	2020-12-31	$5,220,668
Value of net assets at beginning of year (total assets less liabilities)	2020-12-31	$4,769,766
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2020-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2020-12-31	No
Were any leases to which the plan was party in default or uncollectible	2020-12-31	No
Investment advisory and management fees	2020-12-31	$5,133
Value of interest in registered invesment companies (eg mutual funds) at end of year	2020-12-31	$5,166,817
Value of interest in registered invesment companies (eg mutual funds) at beginning of year	2020-12-31	$4,711,481
Interest on participant loans	2020-12-31	$2,189
Net investment gain/loss from registered investment companies (e.g. mutual funds)	2020-12-31	$510,897
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2020-12-31	No
Was there a failure to transmit to the plan any participant contributions	2020-12-31	Yes
Has the plan failed to provide any benefit when due under the plan	2020-12-31	No
Contributions received in cash from employer	2020-12-31	$195,719
Employer contributions (assets) at end of year	2020-12-31	$3,101
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2020-12-31	$740,214
Contract administrator fees	2020-12-31	$22,637
Did the plan have assets held for investment	2020-12-31	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	2020-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2020-12-31	No
Opinion of an independent qualified public accountant for this plan	2020-12-31	Unqualified
Accountancy firm name	2020-12-31	WEINSTEIN ZUGMAN, LLC
Accountancy firm EIN	2020-12-31	200453834
2019 : BUSINESS FINANCIAL SERVICES, INC. RETIREMENT SAVINGS PLAN 2019 401k financial data
Total unrealized appreciation/depreciation of assets	2019-12-31	$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2019-12-31	$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2019-12-31	$0
Total income from all sources (including contributions)	2019-12-31	$1,654,065
Total loss/gain on sale of assets	2019-12-31	$0
Total of all expenses incurred	2019-12-31	$1,040,210
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2019-12-31	$1,013,800
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2019-12-31	$761,236
Value of total assets at end of year	2019-12-31	$4,769,766
Value of total assets at beginning of year	2019-12-31	$4,155,911
Total of administrative expenses incurred including professional, contract, advisory and management fees	2019-12-31	$26,410
Total interest from all sources	2019-12-31	$3,094
Total dividends received (eg from common stock, registered investment company shares)	2019-12-31	$117,545
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2019-12-31	No
Total dividends received from registered investment company shares (eg mutual funds)	2019-12-31	$117,545
Was this plan covered by a fidelity bond	2019-12-31	Yes
Value of fidelity bond cover	2019-12-31	$1,000,000
If this is an individual account plan, was there a blackout period	2019-12-31	No
Were there any nonexempt tranactions with any party-in-interest	2019-12-31	No
Contributions received from participants	2019-12-31	$483,964
Participant contributions at end of year	2019-12-31	$58,285
Participant contributions at beginning of year	2019-12-31	$62,205
Income. Received or receivable in cash from other sources (including rollovers)	2019-12-31	$1,579
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2019-12-31	No
Value of net income/loss	2019-12-31	$613,855
Value of net assets at end of year (total assets less liabilities)	2019-12-31	$4,769,766
Value of net assets at beginning of year (total assets less liabilities)	2019-12-31	$4,155,911
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2019-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2019-12-31	No
Were any leases to which the plan was party in default or uncollectible	2019-12-31	No
Investment advisory and management fees	2019-12-31	$4,860
Value of interest in registered invesment companies (eg mutual funds) at end of year	2019-12-31	$4,711,481
Value of interest in registered invesment companies (eg mutual funds) at beginning of year	2019-12-31	$4,093,706
Interest on participant loans	2019-12-31	$3,094
Net investment gain/loss from registered investment companies (e.g. mutual funds)	2019-12-31	$772,190
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2019-12-31	No
Was there a failure to transmit to the plan any participant contributions	2019-12-31	Yes
Has the plan failed to provide any benefit when due under the plan	2019-12-31	No
Contributions received in cash from employer	2019-12-31	$275,693
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2019-12-31	$1,013,800
Contract administrator fees	2019-12-31	$21,550
Did the plan have assets held for investment	2019-12-31	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	2019-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2019-12-31	No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)	2019-12-31	No
Opinion of an independent qualified public accountant for this plan	2019-12-31	Unqualified
Accountancy firm name	2019-12-31	WEINSTEIN ZUGMAN, LLC
Accountancy firm EIN	2019-12-31	200453834
2018 : BUSINESS FINANCIAL SERVICES, INC. RETIREMENT SAVINGS PLAN 2018 401k financial data
Total unrealized appreciation/depreciation of assets	2018-12-31	$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2018-12-31	$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2018-12-31	$9,653
Total income from all sources (including contributions)	2018-12-31	$319,671
Total loss/gain on sale of assets	2018-12-31	$0
Total of all expenses incurred	2018-12-31	$724,989
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2018-12-31	$696,471
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2018-12-31	$528,094
Value of total assets at end of year	2018-12-31	$4,155,911
Value of total assets at beginning of year	2018-12-31	$4,570,882
Total of administrative expenses incurred including professional, contract, advisory and management fees	2018-12-31	$28,518
Total interest from all sources	2018-12-31	$3,087
Total dividends received (eg from common stock, registered investment company shares)	2018-12-31	$141,915
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2018-12-31	No
Total dividends received from registered investment company shares (eg mutual funds)	2018-12-31	$141,915
Was this plan covered by a fidelity bond	2018-12-31	Yes
Value of fidelity bond cover	2018-12-31	$1,000,000
If this is an individual account plan, was there a blackout period	2018-12-31	No
Were there any nonexempt tranactions with any party-in-interest	2018-12-31	No
Contributions received from participants	2018-12-31	$339,739
Participant contributions at end of year	2018-12-31	$62,205
Participant contributions at beginning of year	2018-12-31	$119,699
Participant contributions at beginning of year	2018-12-31	$11,676
Value of other receiveables (less allowance for doubtful accounts) at beginning of year	2018-12-31	$1,643
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year	2018-12-31	$9,653
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2018-12-31	No
Value of net income/loss	2018-12-31	$-405,318
Value of net assets at end of year (total assets less liabilities)	2018-12-31	$4,155,911
Value of net assets at beginning of year (total assets less liabilities)	2018-12-31	$4,561,229
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2018-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2018-12-31	No
Were any leases to which the plan was party in default or uncollectible	2018-12-31	No
Investment advisory and management fees	2018-12-31	$5,991
Value of interest in registered invesment companies (eg mutual funds) at end of year	2018-12-31	$4,093,706
Value of interest in registered invesment companies (eg mutual funds) at beginning of year	2018-12-31	$4,431,034
Interest on participant loans	2018-12-31	$3,087
Net investment gain/loss from registered investment companies (e.g. mutual funds)	2018-12-31	$-353,425
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2018-12-31	No
Was there a failure to transmit to the plan any participant contributions	2018-12-31	No
Has the plan failed to provide any benefit when due under the plan	2018-12-31	No
Contributions received in cash from employer	2018-12-31	$188,355
Employer contributions (assets) at beginning of year	2018-12-31	$6,830
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2018-12-31	$696,471
Contract administrator fees	2018-12-31	$22,527
Did the plan have assets held for investment	2018-12-31	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	2018-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2018-12-31	No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)	2018-12-31	No
Opinion of an independent qualified public accountant for this plan	2018-12-31	Unqualified
Accountancy firm name	2018-12-31	WEINSTEIN ZUGMAN, LLC
Accountancy firm EIN	2018-12-31	200453834
2017 : BUSINESS FINANCIAL SERVICES, INC. RETIREMENT SAVINGS PLAN 2017 401k financial data
Total unrealized appreciation/depreciation of assets	2017-12-31	$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2017-12-31	$9,653
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2017-12-31	$0
Total income from all sources (including contributions)	2017-12-31	$1,201,799
Total loss/gain on sale of assets	2017-12-31	$0
Total of all expenses incurred	2017-12-31	$665,167
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2017-12-31	$640,371
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2017-12-31	$574,327
Value of total assets at end of year	2017-12-31	$4,570,882
Value of total assets at beginning of year	2017-12-31	$4,024,597
Total of administrative expenses incurred including professional, contract, advisory and management fees	2017-12-31	$24,796
Total interest from all sources	2017-12-31	$5,620
Total dividends received (eg from common stock, registered investment company shares)	2017-12-31	$113,011
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2017-12-31	No
Total dividends received from registered investment company shares (eg mutual funds)	2017-12-31	$113,011
Was this plan covered by a fidelity bond	2017-12-31	Yes
Value of fidelity bond cover	2017-12-31	$2,000,000
If this is an individual account plan, was there a blackout period	2017-12-31	No
Were there any nonexempt tranactions with any party-in-interest	2017-12-31	No
Contributions received from participants	2017-12-31	$375,574
Participant contributions at end of year	2017-12-31	$119,699
Participant contributions at beginning of year	2017-12-31	$138,878
Participant contributions at end of year	2017-12-31	$11,676
Value of other receiveables (less allowance for doubtful accounts) at end of year	2017-12-31	$1,643
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year	2017-12-31	$9,653
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2017-12-31	No
Value of net income/loss	2017-12-31	$536,632
Value of net assets at end of year (total assets less liabilities)	2017-12-31	$4,561,229
Value of net assets at beginning of year (total assets less liabilities)	2017-12-31	$4,024,597
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2017-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2017-12-31	No
Were any leases to which the plan was party in default or uncollectible	2017-12-31	No
Investment advisory and management fees	2017-12-31	$5,460
Value of interest in registered invesment companies (eg mutual funds) at end of year	2017-12-31	$4,431,034
Value of interest in registered invesment companies (eg mutual funds) at beginning of year	2017-12-31	$3,885,719
Interest on participant loans	2017-12-31	$5,620
Net investment gain/loss from registered investment companies (e.g. mutual funds)	2017-12-31	$508,841
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2017-12-31	No
Was there a failure to transmit to the plan any participant contributions	2017-12-31	No
Has the plan failed to provide any benefit when due under the plan	2017-12-31	No
Contributions received in cash from employer	2017-12-31	$198,753
Employer contributions (assets) at end of year	2017-12-31	$6,830
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2017-12-31	$640,371
Contract administrator fees	2017-12-31	$19,336
Did the plan have assets held for investment	2017-12-31	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	2017-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2017-12-31	No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)	2017-12-31	No
Opinion of an independent qualified public accountant for this plan	2017-12-31	Unqualified
Accountancy firm name	2017-12-31	WEINSTEIN ZUGMAN, LLC
Accountancy firm EIN	2017-12-31	200453834
2016 : BUSINESS FINANCIAL SERVICES, INC. RETIREMENT SAVINGS PLAN 2016 401k financial data
Total unrealized appreciation/depreciation of assets	2016-12-31	$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2016-12-31	$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2016-12-31	$0
Total income from all sources (including contributions)	2016-12-31	$949,195
Total loss/gain on sale of assets	2016-12-31	$0
Total of all expenses incurred	2016-12-31	$321,462
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2016-12-31	$299,907
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2016-12-31	$604,228
Value of total assets at end of year	2016-12-31	$4,024,597
Value of total assets at beginning of year	2016-12-31	$3,396,864
Total of administrative expenses incurred including professional, contract, advisory and management fees	2016-12-31	$21,555
Total interest from all sources	2016-12-31	$6,118
Total dividends received (eg from common stock, registered investment company shares)	2016-12-31	$95,855
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2016-12-31	No
Total dividends received from registered investment company shares (eg mutual funds)	2016-12-31	$95,855
Was this plan covered by a fidelity bond	2016-12-31	Yes
Value of fidelity bond cover	2016-12-31	$2,000,000
If this is an individual account plan, was there a blackout period	2016-12-31	No
Were there any nonexempt tranactions with any party-in-interest	2016-12-31	No
Contributions received from participants	2016-12-31	$352,055
Participant contributions at end of year	2016-12-31	$138,878
Participant contributions at beginning of year	2016-12-31	$137,243
Income. Received or receivable in cash from other sources (including rollovers)	2016-12-31	$28,531
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2016-12-31	No
Value of net income/loss	2016-12-31	$627,733
Value of net assets at end of year (total assets less liabilities)	2016-12-31	$4,024,597
Value of net assets at beginning of year (total assets less liabilities)	2016-12-31	$3,396,864
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2016-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2016-12-31	No
Were any leases to which the plan was party in default or uncollectible	2016-12-31	No
Investment advisory and management fees	2016-12-31	$4,928
Value of interest in registered invesment companies (eg mutual funds) at end of year	2016-12-31	$3,885,719
Value of interest in registered invesment companies (eg mutual funds) at beginning of year	2016-12-31	$3,259,621
Interest on participant loans	2016-12-31	$6,118
Net investment gain/loss from registered investment companies (e.g. mutual funds)	2016-12-31	$242,994
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2016-12-31	No
Was there a failure to transmit to the plan any participant contributions	2016-12-31	Yes
Has the plan failed to provide any benefit when due under the plan	2016-12-31	No
Contributions received in cash from employer	2016-12-31	$223,642
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2016-12-31	$299,907
Contract administrator fees	2016-12-31	$16,627
Did the plan have assets held for investment	2016-12-31	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	2016-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2016-12-31	No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)	2016-12-31	No
Opinion of an independent qualified public accountant for this plan	2016-12-31	Unqualified
Accountancy firm name	2016-12-31	GOLDSTEIN, ZUGMAN, WEINSTEIN& POOLE
Accountancy firm EIN	2016-12-31	200453834

Form 5500 Responses for BUSINESS FINANCIAL SERVICES, INC. RETIREMENT SAVINGS PLAN

2021: BUSINESS FINANCIAL SERVICES, INC. RETIREMENT SAVINGS PLAN 2021 form 5500 responses
2021-01-01	Type of plan entity	Single employer plan
2021-01-01	Submission has been amended	No
2021-01-01	This submission is the final filing	No
2021-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2021-01-01	Plan is a collectively bargained plan	No
2021-01-01	Plan funding arrangement – Trust	Yes
2021-01-01	Plan benefit arrangement - Trust	Yes
2020: BUSINESS FINANCIAL SERVICES, INC. RETIREMENT SAVINGS PLAN 2020 form 5500 responses
2020-01-01	Type of plan entity	Single employer plan
2020-01-01	Submission has been amended	No
2020-01-01	This submission is the final filing	No
2020-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2020-01-01	Plan is a collectively bargained plan	No
2020-01-01	Plan funding arrangement – Trust	Yes
2020-01-01	Plan benefit arrangement - Trust	Yes
2019: BUSINESS FINANCIAL SERVICES, INC. RETIREMENT SAVINGS PLAN 2019 form 5500 responses
2019-01-01	Type of plan entity	Single employer plan
2019-01-01	Submission has been amended	No
2019-01-01	This submission is the final filing	No
2019-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2019-01-01	Plan is a collectively bargained plan	No
2019-01-01	Plan funding arrangement – Trust	Yes
2019-01-01	Plan benefit arrangement - Trust	Yes
2018: BUSINESS FINANCIAL SERVICES, INC. RETIREMENT SAVINGS PLAN 2018 form 5500 responses
2018-01-01	Type of plan entity	Single employer plan
2018-01-01	Submission has been amended	No
2018-01-01	This submission is the final filing	No
2018-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2018-01-01	Plan is a collectively bargained plan	No
2018-01-01	Plan funding arrangement – Trust	Yes
2018-01-01	Plan benefit arrangement - Trust	Yes
2017: BUSINESS FINANCIAL SERVICES, INC. RETIREMENT SAVINGS PLAN 2017 form 5500 responses
2017-01-01	Type of plan entity	Single employer plan
2017-01-01	Submission has been amended	No
2017-01-01	This submission is the final filing	No
2017-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2017-01-01	Plan is a collectively bargained plan	No
2017-01-01	Plan funding arrangement – Trust	Yes
2017-01-01	Plan benefit arrangement - Trust	Yes
2016: BUSINESS FINANCIAL SERVICES, INC. RETIREMENT SAVINGS PLAN 2016 form 5500 responses
2016-01-01	Type of plan entity	Single employer plan
2016-01-01	Submission has been amended	No
2016-01-01	This submission is the final filing	No
2016-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2016-01-01	Plan is a collectively bargained plan	No
2016-01-01	Plan funding arrangement – Trust	Yes
2016-01-01	Plan benefit arrangement - Trust	Yes

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Company Name:	BUSINESS FINANCIAL SERVICES, INC.
Employer identification number (EIN):	043621790
NAIC Classification:	522130
NAIC Description:	Credit Unions