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SHINHAN BANK NY 401K PLAN 401k Plan overview

Plan NameSHINHAN BANK NY 401K PLAN
Plan identification number 001

SHINHAN BANK NY 401K 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.
  • Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
  • 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.

401k Sponsoring company profile

SHINHAN BANK NEW YORK BRANCH has sponsored the creation of one or more 401k plans.

Company Name:SHINHAN BANK NEW YORK BRANCH
Employer identification number (EIN):132838566
NAIC Classification:522110
NAIC Description:Commercial Banking

Form 5500 Filing Information

Submission information for form 5500 for 401k plan SHINHAN BANK NY 401K PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01PLAN SPONSOR2024-07-24
0012022-01-01JENNIFER CHANG2023-08-20
0012021-01-01JENNIFER CHANG2022-06-24 JENNIFER CHANG2022-06-24
0012020-01-01JENNIFER CHANG2021-06-17 JENNIFER CHANG2021-06-17
0012019-01-01JENNIFER CHANG2020-07-10
0012018-01-01JENNIFER CHANG2019-08-22
0012017-01-01JENNIFER CHANG2018-07-02 JENNIFER CHANG2018-07-02
0012016-01-01JENNIFER CHANG2017-07-06 JENNIFER CHANG2017-07-06
0012015-01-01JENNIFER CHANG2016-06-27 JENNIFER CHANG2016-06-27
0012014-01-01JENNIFER CHANG2015-06-08 JONGKOO LEE2015-06-08
0012013-01-01JENNIFER CHANG MATTHEW SONG2014-07-07
0012012-01-01JENNIFER CHANG JUNG MIN SONG2013-06-21
0012011-01-01JENNIFER CHANG KYEONGSEOP LEE2012-05-30
0012009-01-01SHINHAN BANK SHINHAN BANK2010-06-27
0012009-01-01SHINHAN BANK SHINHAN BANK2010-06-13

Financial Data on SHINHAN BANK NY 401K PLAN

Measure Date Value
2025 : SHINHAN BANK NY 401K PLAN 2025 401k financial data
Total transfers to/from plan in this plan year2025-08-070
Total liabilities as of the end of the plan year2025-08-070
Total liabilities as of the beginning of the plan year2025-08-070
Total expenses incurred by plan in this plan year2025-08-07240467
Net assets as of the end of the plan year2025-08-071348541
Total assets as of the beginning of the plan year2025-08-071194845
Value of plan covered by a fidelity bond2025-08-07110000
Participant contributions to plan in this plan year2025-08-07116556
Value of participant loans at end of plan year2025-08-0732208
Other expenses paid from plan in this plan year2025-08-070
Other contributions to plan in this plan year2025-08-078782
Other income to plan in this plan year2025-08-07189221
Plan net income in this plan year2025-08-07153696
Net assets as of the end of the plan year2025-08-071348541
Net assets as of the beginning of the plan year2025-08-071194845
Employer contributions to plan in this plan year2025-08-0779604
Fees paid to broker by Benefit Provider2025-08-073844
Expensese paid to adminstrative service provicers from plan in this plan year2025-08-07571
2024 : SHINHAN BANK NY 401K PLAN 2024 401k financial data
Total transfers to/from plan in this plan year2024-07-240
Total liabilities as of the end of the plan year2024-07-240
Total liabilities as of the beginning of the plan year2024-07-240
Total expenses incurred by plan in this plan year2024-07-24794844
Net assets as of the end of the plan year2024-07-241194845
Total assets as of the beginning of the plan year2024-07-241553347
Value of plan covered by a fidelity bond2024-07-24110000
Participant contributions to plan in this plan year2024-07-24117581
Value of participant loans at end of plan year2024-07-2439703
Other expenses paid from plan in this plan year2024-07-240
Other contributions to plan in this plan year2024-07-240
Other income to plan in this plan year2024-07-24245240
Plan net income in this plan year2024-07-24-358502
Net assets as of the end of the plan year2024-07-241194845
Net assets as of the beginning of the plan year2024-07-241553347
Employer contributions to plan in this plan year2024-07-2473521
Fees paid to broker by Benefit Provider2024-07-244677
Expensese paid to adminstrative service provicers from plan in this plan year2024-07-241198
2013 : SHINHAN BANK NY 401K PLAN 2013 401k financial data
Total income from all sources2013-12-31$326,018
Expenses. Total of all expenses incurred2013-12-31$6,531
Benefits paid (including direct rollovers)2013-12-31$0
Total plan assets at end of year2013-12-31$1,508,472
Total plan assets at beginning of year2013-12-31$1,188,985
Value of fidelity bond covering the plan2013-12-31$80,000
Total contributions received or receivable from participants2013-12-31$32,095
Expenses. Other expenses not covered elsewhere2013-12-31$0
Contributions received from other sources (not participants or employers)2013-12-31$0
Other income received2013-12-31$271,086
Net income (gross income less expenses)2013-12-31$319,487
Net plan assets at end of year (total assets less liabilities)2013-12-31$1,508,472
Net plan assets at beginning of year (total assets less liabilities)2013-12-31$1,188,985
Assets. Value of participant loans2013-12-31$108,294
Total contributions received or receivable from employer(s)2013-12-31$22,837
Value of certain deemed distributions of participant loans2013-12-31$0
Value of corrective distributions2013-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2013-12-31$6,531
2012 : SHINHAN BANK NY 401K PLAN 2012 401k financial data
Total income from all sources2012-12-31$240,124
Expenses. Total of all expenses incurred2012-12-31$21,183
Benefits paid (including direct rollovers)2012-12-31$15,125
Total plan assets at end of year2012-12-31$1,188,985
Total plan assets at beginning of year2012-12-31$970,044
Value of fidelity bond covering the plan2012-12-31$80,000
Total contributions received or receivable from participants2012-12-31$36,146
Expenses. Other expenses not covered elsewhere2012-12-31$0
Contributions received from other sources (not participants or employers)2012-12-31$62,583
Other income received2012-12-31$116,286
Net income (gross income less expenses)2012-12-31$218,941
Net plan assets at end of year (total assets less liabilities)2012-12-31$1,188,985
Net plan assets at beginning of year (total assets less liabilities)2012-12-31$970,044
Assets. Value of participant loans2012-12-31$100,175
Total contributions received or receivable from employer(s)2012-12-31$25,109
Value of certain deemed distributions of participant loans2012-12-31$0
Value of corrective distributions2012-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2012-12-31$6,058
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2012-12-31$0
2011 : SHINHAN BANK NY 401K PLAN 2011 401k financial data
Total income from all sources2011-12-31$66,064
Expenses. Total of all expenses incurred2011-12-31$5,774
Benefits paid (including direct rollovers)2011-12-31$124
Total plan assets at end of year2011-12-31$970,044
Total plan assets at beginning of year2011-12-31$909,754
Value of fidelity bond covering the plan2011-12-31$80,000
Total contributions received or receivable from participants2011-12-31$34,183
Expenses. Other expenses not covered elsewhere2011-12-31$0
Contributions received from other sources (not participants or employers)2011-12-31$0
Other income received2011-12-31$8,198
Net income (gross income less expenses)2011-12-31$60,290
Net plan assets at end of year (total assets less liabilities)2011-12-31$970,044
Net plan assets at beginning of year (total assets less liabilities)2011-12-31$909,754
Assets. Value of participant loans2011-12-31$89,080
Total contributions received or receivable from employer(s)2011-12-31$23,683
Value of certain deemed distributions of participant loans2011-12-31$0
Value of corrective distributions2011-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2011-12-31$5,650
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2011-12-31$0
2010 : SHINHAN BANK NY 401K PLAN 2010 401k financial data
Total income from all sources2010-12-31$149,552
Expenses. Total of all expenses incurred2010-12-31$36,448
Benefits paid (including direct rollovers)2010-12-31$31,214
Total plan assets at end of year2010-12-31$909,754
Total plan assets at beginning of year2010-12-31$796,650
Value of fidelity bond covering the plan2010-12-31$80,000
Total contributions received or receivable from participants2010-12-31$34,794
Expenses. Other expenses not covered elsewhere2010-12-31$0
Contributions received from other sources (not participants or employers)2010-12-31$0
Other income received2010-12-31$88,878
Net income (gross income less expenses)2010-12-31$113,104
Net plan assets at end of year (total assets less liabilities)2010-12-31$909,754
Net plan assets at beginning of year (total assets less liabilities)2010-12-31$796,650
Assets. Value of participant loans2010-12-31$91,345
Total contributions received or receivable from employer(s)2010-12-31$25,880
Value of certain deemed distributions of participant loans2010-12-31$0
Value of corrective distributions2010-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2010-12-31$5,234
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2010-12-31$0

Form 5500 Responses for SHINHAN BANK NY 401K PLAN

2013: SHINHAN BANK NY 401K PLAN 2013 form 5500 responses
2013-01-01Type of plan entitySingle employer plan
2013-01-01Submission has been amendedNo
2013-01-01This submission is the final filingNo
2013-01-01This return/report is a short plan year return/report (less than 12 months)No
2013-01-01Plan is a collectively bargained planNo
2013-01-01Plan funding arrangement – InsuranceYes
2013-01-01Plan funding arrangement – TrustYes
2013-01-01Plan benefit arrangement – InsuranceYes
2013-01-01Plan benefit arrangement - TrustYes
2012: SHINHAN BANK NY 401K PLAN 2012 form 5500 responses
2012-01-01Type of plan entitySingle employer plan
2012-01-01Submission has been amendedNo
2012-01-01This submission is the final filingNo
2012-01-01This return/report is a short plan year return/report (less than 12 months)No
2012-01-01Plan is a collectively bargained planNo
2012-01-01Plan funding arrangement – InsuranceYes
2012-01-01Plan funding arrangement – TrustYes
2012-01-01Plan benefit arrangement – InsuranceYes
2012-01-01Plan benefit arrangement - TrustYes
2011: SHINHAN BANK NY 401K PLAN 2011 form 5500 responses
2011-01-01Type of plan entitySingle employer plan
2011-01-01Submission has been amendedNo
2011-01-01This submission is the final filingNo
2011-01-01This return/report is a short plan year return/report (less than 12 months)No
2011-01-01Plan is a collectively bargained planNo
2011-01-01Plan funding arrangement – InsuranceYes
2011-01-01Plan funding arrangement – TrustYes
2011-01-01Plan benefit arrangement – InsuranceYes
2011-01-01Plan benefit arrangement - TrustYes
2009: SHINHAN BANK NY 401K PLAN 2009 form 5500 responses
2009-01-01Type of plan entitySingle employer plan
2009-01-01Submission has been amendedYes
2009-01-01This submission is the final filingNo
2009-01-01This return/report is a short plan year return/report (less than 12 months)No
2009-01-01Plan is a collectively bargained planNo
2009-01-01Plan funding arrangement – InsuranceYes
2009-01-01Plan funding arrangement – TrustYes
2009-01-01Plan benefit arrangement – InsuranceYes
2009-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 65935 )
Policy contract numberFL 50032
Policy instance 1
MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 65935 )
Policy contract numberFL 50032
Policy instance 1
MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 65935 )
Policy contract numberFL 50032
Policy instance 1
MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 65935 )
Policy contract numberFL 50032
Policy instance 1

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