401k Plan data: CITIZENS & NORTHERN CORP. SAVINGS & RETIREMENT PLAN plan

CITIZENS & NORTHERN CORP. SAVINGS & RETIREMENT PLAN 401k Plan overview

Plan Name	CITIZENS & NORTHERN CORP. SAVINGS & RETIREMENT PLAN
Plan identification number	001

CITIZENS & NORTHERN CORP. SAVINGS & RETIREMENT PLAN Benefits

401k Plan Type

Defined Contribution Pension

Plan Features/Benefits

Age/Service Weighted or new comparability or similar plan - Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New comparability or similar plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the theshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of section 401(l).
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.
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

CITIZENS & NORTHERN CORPORATION has sponsored the creation of one or more 401k plans.

Company Name: CITIZENS & NORTHERN CORPORATION

Employer identification number (EIN): 240756925

NAIC Classification: 522110
NAIC Description: Commercial Banking

Form 5500 Filing Information

Submission information for form 5500 for 401k plan CITIZENS & NORTHERN CORP. SAVINGS & RETIREMENT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator Signed Name of Company Sponsor Date Sponsor Signed
001 2020-01-01
001 2019-01-01
001 2017-01-01 TRACY E. WATKINS TRACY E. WATKINS 2018-10-11

Plan id#	Filing Submission Date	Name of Administrator	Name of Company Sponsor	Date Sponsor Signed
001	2020-01-01
001	2019-01-01
001	2017-01-01	TRACY E. WATKINS	TRACY E. WATKINS	2018-10-11

Plan Statistics for CITIZENS & NORTHERN CORP. SAVINGS & RETIREMENT PLAN

401k plan membership statisitcs for CITIZENS & NORTHERN CORP. SAVINGS & RETIREMENT PLAN

Measure Date Value
2020: CITIZENS & NORTHERN CORP. SAVINGS & RETIREMENT PLAN 2020 401k membership
Total participants, beginning-of-year 2020-01-01 61
Total number of active participants reported on line 7a of the Form 5500 2020-01-01 0
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 0
Total of all active and inactive participants 2020-01-01 0
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2020-01-01 0
Total participants 2020-01-01 0
Number of participants with account balances 2020-01-01 0
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2020-01-01 0
2019: CITIZENS & NORTHERN CORP. SAVINGS & RETIREMENT PLAN 2019 401k membership
Total participants, beginning-of-year 2019-01-01 59
Total number of active participants reported on line 7a of the Form 5500 2019-01-01 52
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 9
Total of all active and inactive participants 2019-01-01 61
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2019-01-01 0
Total participants 2019-01-01 61
Number of participants with account balances 2019-01-01 47
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2019-01-01 1
2017: CITIZENS & NORTHERN CORP. SAVINGS & RETIREMENT PLAN 2017 401k membership
Total participants, beginning-of-year 2017-01-01 419
Total number of active participants reported on line 7a of the Form 5500 2017-01-01 290
Number of retired or separated participants receiving benefits 2017-01-01 24
Number of other retired or separated participants entitled to future benefits 2017-01-01 113
Total of all active and inactive participants 2017-01-01 427
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2017-01-01 1
Total participants 2017-01-01 428
Number of participants with account balances 2017-01-01 409
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2017-01-01 0

Measure	Date	Value
2020: CITIZENS & NORTHERN CORP. SAVINGS & RETIREMENT PLAN 2020 401k membership
Total participants, beginning-of-year	2020-01-01	61
Total number of active participants reported on line 7a of the Form 5500	2020-01-01	0
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	0
Total of all active and inactive participants	2020-01-01	0
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2020-01-01	0
Total participants	2020-01-01	0
Number of participants with account balances	2020-01-01	0
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2020-01-01	0
2019: CITIZENS & NORTHERN CORP. SAVINGS & RETIREMENT PLAN 2019 401k membership
Total participants, beginning-of-year	2019-01-01	59
Total number of active participants reported on line 7a of the Form 5500	2019-01-01	52
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	9
Total of all active and inactive participants	2019-01-01	61
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2019-01-01	0
Total participants	2019-01-01	61
Number of participants with account balances	2019-01-01	47
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2019-01-01	1
2017: CITIZENS & NORTHERN CORP. SAVINGS & RETIREMENT PLAN 2017 401k membership
Total participants, beginning-of-year	2017-01-01	419
Total number of active participants reported on line 7a of the Form 5500	2017-01-01	290
Number of retired or separated participants receiving benefits	2017-01-01	24
Number of other retired or separated participants entitled to future benefits	2017-01-01	113
Total of all active and inactive participants	2017-01-01	427
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2017-01-01	1
Total participants	2017-01-01	428
Number of participants with account balances	2017-01-01	409
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2017-01-01	0

Financial Data on CITIZENS & NORTHERN CORP. SAVINGS & RETIREMENT PLAN

Measure	Date	Value
2020 : CITIZENS & NORTHERN CORP. SAVINGS & RETIREMENT PLAN 2020 401k financial data
Transfers to/from the plan	2020-08-01	$-2,870,802
Total plan liabilities at end of year	2020-08-01	$0
Total plan liabilities at beginning of year	2020-08-01	$0
Total income from all sources	2020-08-01	$245,303
Expenses. Total of all expenses incurred	2020-08-01	$70,470
Benefits paid (including direct rollovers)	2020-08-01	$70,268
Total plan assets at end of year	2020-08-01	$0
Total plan assets at beginning of year	2020-08-01	$2,695,969
Value of fidelity bond covering the plan	2020-08-01	$3,000,000
Total contributions received or receivable from participants	2020-08-01	$221,039
Other income received	2020-08-01	$-48,975
Net income (gross income less expenses)	2020-08-01	$174,833
Net plan assets at end of year (total assets less liabilities)	2020-08-01	$0
Net plan assets at beginning of year (total assets less liabilities)	2020-08-01	$2,695,969
Assets. Value of participant loans	2020-08-01	$0
Assets. Value of employer securities	2020-08-01	$0
Total contributions received or receivable from employer(s)	2020-08-01	$73,239
Expenses. Administrative service providers (salaries,fees and commissions)	2020-08-01	$202
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2020-08-01	$0
2019 : CITIZENS & NORTHERN CORP. SAVINGS & RETIREMENT PLAN 2019 401k financial data
Total plan liabilities at end of year	2019-12-31	$0
Total plan liabilities at beginning of year	2019-12-31	$0
Total income from all sources	2019-12-31	$996,674
Expenses. Total of all expenses incurred	2019-12-31	$13,984
Benefits paid (including direct rollovers)	2019-12-31	$12,896
Total plan assets at end of year	2019-12-31	$2,695,969
Total plan assets at beginning of year	2019-12-31	$1,713,279
Value of fidelity bond covering the plan	2019-12-31	$3,000,000
Total contributions received or receivable from participants	2019-12-31	$300,967
Contributions received from other sources (not participants or employers)	2019-12-31	$13,916
Other income received	2019-12-31	$584,086
Net income (gross income less expenses)	2019-12-31	$982,690
Net plan assets at end of year (total assets less liabilities)	2019-12-31	$2,695,969
Net plan assets at beginning of year (total assets less liabilities)	2019-12-31	$1,713,279
Assets. Value of participant loans	2019-12-31	$2,706
Assets. Value of employer securities	2019-12-31	$475,794
Total contributions received or receivable from employer(s)	2019-12-31	$97,705
Value of corrective distributions	2019-12-31	$911
Expenses. Administrative service providers (salaries,fees and commissions)	2019-12-31	$177
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2019-12-31	$0
2017 : CITIZENS & NORTHERN CORP. SAVINGS & RETIREMENT PLAN 2017 401k financial data
Total unrealized appreciation/depreciation of assets	2017-12-31	$0
Total transfer of assets to this plan	2017-12-31	$94,864
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2017-12-31	$0
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	$8,170,963
Total loss/gain on sale of assets	2017-12-31	$0
Total of all expenses incurred	2017-12-31	$3,980,609
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2017-12-31	$3,980,609
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2017-12-31	$2,360,617
Value of total assets at end of year	2017-12-31	$43,258,868
Value of total assets at beginning of year	2017-12-31	$38,973,650
Total of administrative expenses incurred including professional, contract, advisory and management fees	2017-12-31	$0
Total interest from all sources	2017-12-31	$0
Total dividends received (eg from common stock, registered investment company shares)	2017-12-31	$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2017-12-31	No
Was this plan covered by a fidelity bond	2017-12-31	Yes
Value of fidelity bond cover	2017-12-31	$10,000,000
If this is an individual account plan, was there a blackout period	2017-12-31	No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2017-12-31	$0
Were there any nonexempt tranactions with any party-in-interest	2017-12-31	No
Contributions received from participants	2017-12-31	$1,103,594
Income. Received or receivable in cash from other sources (including rollovers)	2017-12-31	$573,661
Value of other receiveables (less allowance for doubtful accounts) at end of year	2017-12-31	$17,007
Value of other receiveables (less allowance for doubtful accounts) at beginning of year	2017-12-31	$0
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	$4,190,354
Value of net assets at end of year (total assets less liabilities)	2017-12-31	$43,258,868
Value of net assets at beginning of year (total assets less liabilities)	2017-12-31	$38,973,650
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
Value of interest in registered invesment companies (eg mutual funds) at end of year	2017-12-31	$41,649,854
Value of interest in registered invesment companies (eg mutual funds) at beginning of year	2017-12-31	$37,633,887
Value of interest in common/collective trusts at end of year	2017-12-31	$1,592,007
Value of interest in common/collective trusts at beginning of year	2017-12-31	$1,339,763
Net investment gain/loss from registered investment companies (e.g. mutual funds)	2017-12-31	$5,810,346
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	$683,362
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2017-12-31	$3,980,609
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	BAKER TILLY VIRCHOW KRAUSE LLP
Accountancy firm EIN	2017-12-31	390859910

Form 5500 Responses for CITIZENS & NORTHERN CORP. SAVINGS & RETIREMENT PLAN

2020: CITIZENS & NORTHERN CORP. SAVINGS & RETIREMENT 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	Yes
2020-01-01	This return/report is a short plan year return/report (less than 12 months)	Yes
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: CITIZENS & NORTHERN CORP. SAVINGS & RETIREMENT 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
2017: CITIZENS & NORTHERN CORP. SAVINGS & RETIREMENT 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

Insurance Providers Used on plan

NATIONWIDE LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 66869 )

Policy contract number

515-80322

Policy instance

Insurance contract or identification number	515-80322
Number of Individuals Covered	0
Insurance policy start date	2020-01-01
Insurance policy end date	2020-08-01
Total amount of commissions paid to insurance broker	USD $225
Total amount of fees paid to insurance company	USD $0
Are there contracts with allocated funds for individual policies?	0
Are there contracts with allocated funds for group deferred annuity?	No
Are there contracts with allocated funds for types other than group deferred annuity or individual?	No
Contract purchased, in whole or in part, to distribute benefits from a terminating plan	No
Contracts With Unallocated Funds Deposit Administration	0
Are there contracts with unallocated funds for contracts of type immediate participation guarantee?	No
Are there contracts with unallocated funds for contracts of type guaranteed investment?	Yes
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?	No
Health Insurance Welfare Benefit	No
Dental Insurance Welfare Benefit	No
Vision Insurance Welfare Benefit	No
Life Insurance Welfare Benefit	No
Temporary Disability Insurance Welfare Benefit	No
Long Term Disability Insurance Welfare Benefit	No
Unemployment Insurance Welfare Benefit	No
Were dividends or retroactive rate refunds paid in cash?	No
Were dividends or retroactive rate refunds paid as a credit?	No
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?	No
Commission paid to Insurance Broker	USD $172
Insurance broker organization code?	3

NATIONWIDE LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 66869 )

Policy contract number

515-80322

Policy instance

Insurance contract or identification number	515-80322
Number of Individuals Covered	5
Insurance policy start date	2019-01-01
Insurance policy end date	2019-12-31
Total amount of commissions paid to insurance broker	USD $282
Total amount of fees paid to insurance company	USD $0
Are there contracts with allocated funds for individual policies?	0
Are there contracts with allocated funds for group deferred annuity?	No
Are there contracts with allocated funds for types other than group deferred annuity or individual?	No
Contract purchased, in whole or in part, to distribute benefits from a terminating plan	No
Contracts With Unallocated Funds Deposit Administration	0
Are there contracts with unallocated funds for contracts of type immediate participation guarantee?	No
Are there contracts with unallocated funds for contracts of type guaranteed investment?	Yes
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?	No
Health Insurance Welfare Benefit	No
Dental Insurance Welfare Benefit	No
Vision Insurance Welfare Benefit	No
Life Insurance Welfare Benefit	No
Temporary Disability Insurance Welfare Benefit	No
Long Term Disability Insurance Welfare Benefit	No
Unemployment Insurance Welfare Benefit	No
Were dividends or retroactive rate refunds paid in cash?	No
Were dividends or retroactive rate refunds paid as a credit?	No
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?	No
Commission paid to Insurance Broker	USD $282
Insurance broker organization code?	3

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Company Name:	CITIZENS & NORTHERN CORPORATION
Employer identification number (EIN):	240756925
NAIC Classification:	522110
NAIC Description:	Commercial Banking