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BEATS ELECTRONICS, LLC 401(K) PLAN 401k Plan overview

Plan NameBEATS ELECTRONICS, LLC 401(K) PLAN
Plan identification number 001

BEATS ELECTRONICS, LLC 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.
  • Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
  • 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

BEATS ELECTRONICS, LLC has sponsored the creation of one or more 401k plans.

Company Name:BEATS ELECTRONICS, LLC
Employer identification number (EIN):263568430
NAIC Classification:334310
NAIC Description:Audio and Video Equipment Manufacturing

Additional information about BEATS ELECTRONICS, LLC

Jurisdiction of Incorporation: State of Delaware Division of Corporations
Incorporation Date:
Company Identification Number: 4718850

More information about BEATS ELECTRONICS, LLC

Form 5500 Filing Information

Submission information for form 5500 for 401k plan BEATS ELECTRONICS, LLC 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012015-01-01JUDI HART
0012014-01-01JUDI HART
0012014-01-01JUDI HART
0012014-01-01JUDI HART
0012013-01-01JUDI HART
0012012-05-01SCOTT HENRY2013-07-09

Plan Statistics for BEATS ELECTRONICS, LLC 401(K) PLAN

401k plan membership statisitcs for BEATS ELECTRONICS, LLC 401(K) PLAN

Measure Date Value
2015: BEATS ELECTRONICS, LLC 401(K) PLAN 2015 401k membership
Total participants, beginning-of-year2015-01-01345
Total number of active participants reported on line 7a of the Form 55002015-01-010
Number of retired or separated participants receiving benefits2015-01-010
Number of other retired or separated participants entitled to future benefits2015-01-010
Total of all active and inactive participants2015-01-010
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2015-01-010
Total participants2015-01-010
Number of participants with account balances2015-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2015-01-010
2014: BEATS ELECTRONICS, LLC 401(K) PLAN 2014 401k membership
Total participants, beginning-of-year2014-01-01434
Total number of active participants reported on line 7a of the Form 55002014-01-010
Number of retired or separated participants receiving benefits2014-01-010
Number of other retired or separated participants entitled to future benefits2014-01-01345
Total of all active and inactive participants2014-01-01345
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2014-01-010
Total participants2014-01-01345
Number of participants with account balances2014-01-01345
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2014-01-010
2013: BEATS ELECTRONICS, LLC 401(K) PLAN 2013 401k membership
Total participants, beginning-of-year2013-01-01262
Total number of active participants reported on line 7a of the Form 55002013-01-01396
Number of retired or separated participants receiving benefits2013-01-010
Number of other retired or separated participants entitled to future benefits2013-01-0126
Total of all active and inactive participants2013-01-01422
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2013-01-010
Total participants2013-01-01422
Number of participants with account balances2013-01-01345
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2013-01-0128

Financial Data on BEATS ELECTRONICS, LLC 401(K) PLAN

Measure Date Value
2015 : BEATS ELECTRONICS, LLC 401(K) PLAN 2015 401k financial data
Total unrealized appreciation/depreciation of assets2015-03-10$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2015-03-10$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2015-03-10$0
Total income from all sources (including contributions)2015-03-10$-67,448
Total loss/gain on sale of assets2015-03-10$0
Total of all expenses incurred2015-03-10$6,860,293
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2015-03-10$6,846,784
Total contributions o plan (from employers,participants, others, non cash contrinutions)2015-03-10$0
Value of total assets at end of year2015-03-10$0
Value of total assets at beginning of year2015-03-10$6,927,741
Total of administrative expenses incurred including professional, contract, advisory and management fees2015-03-10$13,509
Total interest from all sources2015-03-10$331
Total dividends received (eg from common stock, registered investment company shares)2015-03-10$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2015-03-10Yes
Value of any plan assets that reverted to the employer resulting from resoluton to terminate the plan2015-03-10$0
Was this plan covered by a fidelity bond2015-03-10Yes
Value of fidelity bond cover2015-03-10$3,000,000
If this is an individual account plan, was there a blackout period2015-03-10No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2015-03-10$0
Were there any nonexempt tranactions with any party-in-interest2015-03-10No
Participant contributions at end of year2015-03-10$0
Participant contributions at beginning of year2015-03-10$58,546
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2015-03-10No
Value of net income/loss2015-03-10$-6,927,741
Value of net assets at end of year (total assets less liabilities)2015-03-10$0
Value of net assets at beginning of year (total assets less liabilities)2015-03-10$6,927,741
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2015-03-10No
Were any loans by the plan or fixed income obligations due to the plan in default2015-03-10No
Were any leases to which the plan was party in default or uncollectible2015-03-10No
Value of interest in registered invesment companies (eg mutual funds) at end of year2015-03-10$0
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2015-03-10$6,656,355
Interest earned on other investments2015-03-10$331
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2015-03-10$0
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2015-03-10$212,840
Net investment gain/loss from registered investment companies (e.g. mutual funds)2015-03-10$-67,779
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2015-03-10No
Was there a failure to transmit to the plan any participant contributions2015-03-10No
Has the plan failed to provide any benefit when due under the plan2015-03-10No
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2015-03-10$6,846,784
Contract administrator fees2015-03-10$13,509
Did the plan have assets held for investment2015-03-10No
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2015-03-10No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2015-03-10Yes
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2015-03-10Yes
Opinion of an independent qualified public accountant for this plan2015-03-10Disclaimer
Accountancy firm name2015-03-10METZ & ASSOCIATES PLLC
Accountancy firm EIN2015-03-10464558541
2014 : BEATS ELECTRONICS, LLC 401(K) PLAN 2014 401k financial data
Total unrealized appreciation/depreciation of assets2014-12-31$0
Total transfer of assets from this plan2014-12-31$58,546
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2014-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2014-12-31$0
Total income from all sources (including contributions)2014-12-31$4,730,653
Total loss/gain on sale of assets2014-12-31$0
Total of all expenses incurred2014-12-31$2,883,113
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2014-12-31$2,816,876
Value of total corrective distributions2014-12-31$298
Total contributions o plan (from employers,participants, others, non cash contrinutions)2014-12-31$4,182,309
Value of total assets at end of year2014-12-31$6,869,195
Value of total assets at beginning of year2014-12-31$5,080,201
Total of administrative expenses incurred including professional, contract, advisory and management fees2014-12-31$65,939
Total interest from all sources2014-12-31$5,899
Total dividends received (eg from common stock, registered investment company shares)2014-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2014-12-31Yes
Value of any plan assets that reverted to the employer resulting from resoluton to terminate the plan2014-12-31$0
Was this plan covered by a fidelity bond2014-12-31Yes
Value of fidelity bond cover2014-12-31$3,000,000
If this is an individual account plan, was there a blackout period2014-12-31Yes
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2014-12-31$0
Were there any nonexempt tranactions with any party-in-interest2014-12-31No
Contributions received from participants2014-12-31$2,086,446
Participant contributions at end of year2014-12-31$0
Participant contributions at beginning of year2014-12-31$22,968
Income. Received or receivable in cash from other sources (including rollovers)2014-12-31$496,082
Total non interest bearing cash at end of year2014-12-31$0
Total non interest bearing cash at beginning of year2014-12-31$5,486
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2014-12-31No
Value of net income/loss2014-12-31$1,847,540
Value of net assets at end of year (total assets less liabilities)2014-12-31$6,869,195
Value of net assets at beginning of year (total assets less liabilities)2014-12-31$5,080,201
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2014-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2014-12-31No
Were any leases to which the plan was party in default or uncollectible2014-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2014-12-31$6,656,355
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2014-12-31$4,953,338
Interest on participant loans2014-12-31$983
Interest earned on other investments2014-12-31$4,916
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2014-12-31$212,840
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2014-12-31$98,409
Net investment gain/loss from registered investment companies (e.g. mutual funds)2014-12-31$542,445
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2014-12-31No
Was there a failure to transmit to the plan any participant contributions2014-12-31No
Has the plan failed to provide any benefit when due under the plan2014-12-31No
Contributions received in cash from employer2014-12-31$1,599,781
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2014-12-31$2,816,876
Contract administrator fees2014-12-31$65,939
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32014-12-31Yes
Did the plan have assets held for investment2014-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2014-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2014-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2014-12-31Yes
Opinion of an independent qualified public accountant for this plan2014-12-31Disclaimer
Accountancy firm name2014-12-31METZ & ASSOCIATES PLLC
Accountancy firm EIN2014-12-31464558541
2013 : BEATS ELECTRONICS, LLC 401(K) PLAN 2013 401k financial data
Total unrealized appreciation/depreciation of assets2013-12-31$0
Total transfer of assets from this plan2013-12-31$295,791
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2013-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2013-12-31$0
Total income from all sources (including contributions)2013-12-31$4,275,017
Total loss/gain on sale of assets2013-12-31$0
Total of all expenses incurred2013-12-31$161,736
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2013-12-31$142,228
Total contributions o plan (from employers,participants, others, non cash contrinutions)2013-12-31$3,646,929
Value of total assets at end of year2013-12-31$5,080,201
Value of total assets at beginning of year2013-12-31$1,262,711
Total of administrative expenses incurred including professional, contract, advisory and management fees2013-12-31$19,508
Total interest from all sources2013-12-31$2,471
Total dividends received (eg from common stock, registered investment company shares)2013-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2013-12-31No
Was this plan covered by a fidelity bond2013-12-31Yes
Value of fidelity bond cover2013-12-31$3,000,000
If this is an individual account plan, was there a blackout period2013-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2013-12-31$0
Were there any nonexempt tranactions with any party-in-interest2013-12-31No
Contributions received from participants2013-12-31$1,666,303
Participant contributions at end of year2013-12-31$22,968
Participant contributions at beginning of year2013-12-31$0
Income. Received or receivable in cash from other sources (including rollovers)2013-12-31$707,255
Total non interest bearing cash at end of year2013-12-31$5,486
Total non interest bearing cash at beginning of year2013-12-31$14,340
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2013-12-31No
Value of net income/loss2013-12-31$4,113,281
Value of net assets at end of year (total assets less liabilities)2013-12-31$5,080,201
Value of net assets at beginning of year (total assets less liabilities)2013-12-31$1,262,711
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2013-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2013-12-31No
Were any leases to which the plan was party in default or uncollectible2013-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2013-12-31$4,953,338
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2013-12-31$1,180,357
Interest on participant loans2013-12-31$265
Interest earned on other investments2013-12-31$2,206
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2013-12-31$98,409
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2013-12-31$68,014
Net investment gain/loss from registered investment companies (e.g. mutual funds)2013-12-31$625,617
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2013-12-31No
Was there a failure to transmit to the plan any participant contributions2013-12-31No
Has the plan failed to provide any benefit when due under the plan2013-12-31No
Contributions received in cash from employer2013-12-31$1,273,371
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2013-12-31$142,228
Contract administrator fees2013-12-31$19,508
Did the plan have assets held for investment2013-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2013-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2013-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2013-12-31Yes
Opinion of an independent qualified public accountant for this plan2013-12-31Disclaimer
Accountancy firm name2013-12-31METZ & ASSOCIATES PLLC
Accountancy firm EIN2013-12-31464558541

Form 5500 Responses for BEATS ELECTRONICS, LLC 401(K) PLAN

2015: BEATS ELECTRONICS, LLC 401(K) PLAN 2015 form 5500 responses
2015-01-01Type of plan entitySingle employer plan
2015-01-01Submission has been amendedNo
2015-01-01This submission is the final filingYes
2015-01-01This return/report is a short plan year return/report (less than 12 months)Yes
2015-01-01Plan is a collectively bargained planNo
2015-01-01Plan funding arrangement – InsuranceYes
2015-01-01Plan funding arrangement – TrustYes
2015-01-01Plan benefit arrangement – InsuranceYes
2015-01-01Plan benefit arrangement - TrustYes
2014: BEATS ELECTRONICS, LLC 401(K) PLAN 2014 form 5500 responses
2014-01-01Type of plan entitySingle employer plan
2014-01-01Submission has been amendedYes
2014-01-01This submission is the final filingNo
2014-01-01This return/report is a short plan year return/report (less than 12 months)No
2014-01-01Plan is a collectively bargained planNo
2014-01-01Plan funding arrangement – InsuranceYes
2014-01-01Plan funding arrangement – TrustYes
2014-01-01Plan benefit arrangement – InsuranceYes
2014-01-01Plan benefit arrangement - TrustYes
2013: BEATS ELECTRONICS, LLC 401(K) 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

Insurance Providers Used on plan

STANDARD INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 69019 )
Policy contract number808213
Policy instance 1
Insurance contract or identification number808213
Number of Individuals Covered0
Insurance policy start date2015-01-01
Insurance policy end date2015-03-10
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $0
Are there contracts with allocated funds for individual policies?No
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 planNo
Contracts With Unallocated Funds Deposit Administration1
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?No
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?No
Health Insurance Welfare BenefitNo
Dental Insurance Welfare BenefitNo
Vision Insurance Welfare BenefitNo
Life Insurance Welfare BenefitNo
Temporary Disability Insurance Welfare BenefitNo
Long Term Disability Insurance Welfare BenefitNo
Unemployment Insurance Welfare BenefitNo
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
STANDARD INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 69019 )
Policy contract number808213
Policy instance 1
Insurance contract or identification number808213
Number of Individuals Covered345
Insurance policy start date2014-01-01
Insurance policy end date2014-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $0
Are there contracts with allocated funds for individual policies?No
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 planNo
Contracts With Unallocated Funds Deposit Administration1
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?No
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?No
Health Insurance Welfare BenefitNo
Dental Insurance Welfare BenefitNo
Vision Insurance Welfare BenefitNo
Life Insurance Welfare BenefitNo
Temporary Disability Insurance Welfare BenefitNo
Long Term Disability Insurance Welfare BenefitNo
Unemployment Insurance Welfare BenefitNo
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
STANDARD INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 69019 )
Policy contract number808213
Policy instance 1
Insurance contract or identification number808213
Number of Individuals Covered422
Insurance policy start date2013-01-01
Insurance policy end date2013-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $0
Are there contracts with allocated funds for individual policies?No
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 planNo
Contracts With Unallocated Funds Deposit Administration1
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?No
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?No
Health Insurance Welfare BenefitNo
Dental Insurance Welfare BenefitNo
Vision Insurance Welfare BenefitNo
Life Insurance Welfare BenefitNo
Temporary Disability Insurance Welfare BenefitNo
Long Term Disability Insurance Welfare BenefitNo
Unemployment Insurance Welfare BenefitNo
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

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