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AMBIT 401(K) PLAN 401k Plan overview

Plan NameAMBIT 401(K) PLAN
Plan identification number 001

AMBIT 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.
  • 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

AMERICAN BITUMINOUS POWER PARTNERS, L.P. DBA AMBIT has sponsored the creation of one or more 401k plans.

Company Name:AMERICAN BITUMINOUS POWER PARTNERS, L.P. DBA AMBIT
Employer identification number (EIN):330377855
NAIC Classification:221100

Form 5500 Filing Information

Submission information for form 5500 for 401k plan AMBIT 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012024-01-01KRISTA HURLEY
0012023-01-01
0012023-01-01EDDIE HUFFMAN
0012022-01-01
0012022-01-01EDDIE HUFFMAN
0012021-02-01
0012021-02-01EDDIE HUFFMAN

Financial Data on AMBIT 401(K) PLAN

Measure Date Value
2024 : AMBIT 401(K) PLAN 2024 401k financial data
Transfers to/from the plan2024-01-01$0
Total plan liabilities at end of year2024-01-01$0
Total plan liabilities at beginning of year2024-01-01$0
Total income from all sources2024-01-01$2,280,039
Expenses. Total of all expenses incurred2024-01-01$633,255
Benefits paid (including direct rollovers)2024-01-01$616,160
Total plan assets at end of year2024-01-01$10,406,566
Total plan assets at beginning of year2024-01-01$8,759,782
Value of fidelity bond covering the plan2024-01-01$500,000
Assets. Value of tangible personal property2024-01-01$0
Total contributions received or receivable from participants2024-01-01$463,847
Assets. Value of loans (other than to participants)2024-01-01$0
Expenses. Other expenses not covered elsewhere2024-01-01$0
Contributions received from other sources (not participants or employers)2024-01-01$15,823
Other income received2024-01-01$1,373,991
Noncash contributions received2024-01-01$0
Net income (gross income less expenses)2024-01-01$1,646,784
Net plan assets at end of year (total assets less liabilities)2024-01-01$10,406,566
Net plan assets at beginning of year (total assets less liabilities)2024-01-01$8,759,782
Assets. Value of participant loans2024-01-01$231,354
Assets. Value of assets in partnership/joint-venture interests2024-01-01$0
Assets. Value of real-estate (other than employer real property)2024-01-01$0
Assets. Value of employer securities2024-01-01$0
Assets. Value of employer real property2024-01-01$0
Total contributions received or receivable from employer(s)2024-01-01$426,378
Value of certain deemed distributions of participant loans2024-01-01$0
Value of corrective distributions2024-01-01$0
Expenses. Administrative service providers (salaries,fees and commissions)2024-01-01$17,095
2023 : AMBIT 401(K) PLAN 2023 401k financial data
Transfers to/from the plan2023-12-31$0
Total plan liabilities at end of year2023-12-31$0
Total plan liabilities at beginning of year2023-12-31$0
Total income from all sources2023-12-31$2,248,655
Expenses. Total of all expenses incurred2023-12-31$410,530
Benefits paid (including direct rollovers)2023-12-31$395,944
Total plan assets at end of year2023-12-31$8,759,782
Total plan assets at beginning of year2023-12-31$6,921,657
Value of fidelity bond covering the plan2023-12-31$500,000
Assets. Value of tangible personal property2023-12-31$0
Total contributions received or receivable from participants2023-12-31$466,549
Assets. Value of loans (other than to participants)2023-12-31$0
Expenses. Other expenses not covered elsewhere2023-12-31$0
Contributions received from other sources (not participants or employers)2023-12-31$7,348
Other income received2023-12-31$1,330,534
Noncash contributions received2023-12-31$0
Net income (gross income less expenses)2023-12-31$1,838,125
Net plan assets at end of year (total assets less liabilities)2023-12-31$8,759,782
Net plan assets at beginning of year (total assets less liabilities)2023-12-31$6,921,657
Assets. Value of participant loans2023-12-31$259,838
Assets. Value of assets in partnership/joint-venture interests2023-12-31$0
Assets. Value of real-estate (other than employer real property)2023-12-31$0
Assets. Value of employer securities2023-12-31$0
Assets. Value of employer real property2023-12-31$0
Total contributions received or receivable from employer(s)2023-12-31$444,224
Value of certain deemed distributions of participant loans2023-12-31$0
Value of corrective distributions2023-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2023-12-31$14,586
2022 : AMBIT 401(K) PLAN 2022 401k financial data
Transfers to/from the plan2022-12-31$0
Total plan liabilities at end of year2022-12-31$0
Total plan liabilities at beginning of year2022-12-31$0
Total income from all sources2022-12-31$-471,908
Expenses. Total of all expenses incurred2022-12-31$320,220
Benefits paid (including direct rollovers)2022-12-31$305,828
Total plan assets at end of year2022-12-31$6,921,657
Total plan assets at beginning of year2022-12-31$7,713,785
Value of fidelity bond covering the plan2022-12-31$500,000
Total contributions received or receivable from participants2022-12-31$407,918
Expenses. Other expenses not covered elsewhere2022-12-31$0
Contributions received from other sources (not participants or employers)2022-12-31$0
Other income received2022-12-31$-1,255,238
Noncash contributions received2022-12-31$0
Net income (gross income less expenses)2022-12-31$-792,128
Net plan assets at end of year (total assets less liabilities)2022-12-31$6,921,657
Net plan assets at beginning of year (total assets less liabilities)2022-12-31$7,713,785
Assets. Value of participant loans2022-12-31$88,465
Total contributions received or receivable from employer(s)2022-12-31$375,412
Value of certain deemed distributions of participant loans2022-12-31$0
Value of corrective distributions2022-12-31$1,091
Expenses. Administrative service providers (salaries,fees and commissions)2022-12-31$13,301
2021 : AMBIT 401(K) PLAN 2021 401k financial data
Transfers to/from the plan2021-12-31$6,092,763
Total plan liabilities at end of year2021-12-31$0
Total plan liabilities at beginning of year2021-12-31$0
Total income from all sources2021-12-31$1,694,258
Expenses. Total of all expenses incurred2021-12-31$73,236
Benefits paid (including direct rollovers)2021-12-31$63,978
Total plan assets at end of year2021-12-31$7,713,785
Total plan assets at beginning of year2021-12-31$0
Value of fidelity bond covering the plan2021-12-31$500,000
Total contributions received or receivable from participants2021-12-31$319,954
Expenses. Other expenses not covered elsewhere2021-12-31$0
Contributions received from other sources (not participants or employers)2021-12-31$0
Other income received2021-12-31$1,048,476
Noncash contributions received2021-12-31$0
Net income (gross income less expenses)2021-12-31$1,621,022
Net plan assets at end of year (total assets less liabilities)2021-12-31$7,713,785
Net plan assets at beginning of year (total assets less liabilities)2021-12-31$0
Assets. Value of participant loans2021-12-31$133,588
Total contributions received or receivable from employer(s)2021-12-31$325,828
Value of certain deemed distributions of participant loans2021-12-31$0
Value of corrective distributions2021-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2021-12-31$9,258

Form 5500 Responses for AMBIT 401(K) PLAN

2023: AMBIT 401(K) PLAN 2023 form 5500 responses
2023-01-01Type of plan entitySingle employer plan
2023-01-01This submission is the final filingNo
2023-01-01Plan is a collectively bargained planNo
2023-01-01Plan funding arrangement – TrustYes
2023-01-01Plan benefit arrangement - TrustYes
2022: AMBIT 401(K) PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01Submission has been amendedNo
2022-01-01This submission is the final filingNo
2022-01-01This return/report is a short plan year return/report (less than 12 months)No
2022-01-01Plan is a collectively bargained planNo
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement - TrustYes
2021: AMBIT 401(K) PLAN 2021 form 5500 responses
2021-02-01Type of plan entitySingle employer plan
2021-02-01First time form 5500 has been submittedYes
2021-02-01Submission has been amendedNo
2021-02-01This submission is the final filingNo
2021-02-01This return/report is a short plan year return/report (less than 12 months)Yes
2021-02-01Plan is a collectively bargained planNo
2021-02-01Plan funding arrangement – TrustYes
2021-02-01Plan benefit arrangement - TrustYes

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