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CLIFT, INC. 401(K) PROFIT SHARING PLAN 401k Plan overview

Plan NameCLIFT, INC. 401(K) PROFIT SHARING PLAN
Plan identification number 001

CLIFT, INC. 401(K) PROFIT SHARING PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Profit-sharing
  • 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.
  • Partial participant-directed account plan - Participants have the opportunity to direct the investment of a portion of 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.

401k Sponsoring company profile

CLIFT, INC. has sponsored the creation of one or more 401k plans.

Company Name:CLIFT, INC.
Employer identification number (EIN):382293896
NAIC Classification:441110
NAIC Description:New Car Dealers

Additional information about CLIFT, INC.

Jurisdiction of Incorporation: Florida Department of State Division of Corporations
Incorporation Date: 1992-12-04
Company Identification Number: P92000009455
Legal Registered Office Address: 277 N COLLIER BLVD

MARCO ISLAND

33937

More information about CLIFT, INC.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan CLIFT, INC. 401(K) PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01BRYAN BOWERS2023-10-13 BRYAN BOWERS2023-10-13
0012021-01-01BRYAN BOWERS2022-10-13 BRYAN BOWERS2022-10-13
0012020-01-01BRYAN BOWERS2021-10-14 BRYAN BOWERS2021-10-14
0012019-01-01BRYAN BOWERS2020-10-01 BRYAN BOWERS2020-10-01
0012018-01-01BRYAN BOWERS2019-07-29 BRYAN BOWERS2019-07-29
0012018-01-01BRYAN BOWERS2019-07-29
0012017-01-01BRYAN BOWERS2018-10-12 BRYAN BOWERS2018-10-12
0012016-01-01BRYAN BOWERS2017-10-15 BRYAN BOWERS2017-10-15
0012015-01-01BRYAN BOWERS2016-10-07 BRYAN BOWERS2016-10-07
0012014-01-01BRYAN BOWERS2015-10-12 BRYAN BOWERS2015-10-12
0012013-01-01BRYAN BOWERS2014-10-09 BRYAN BOWERS2014-10-09
0012012-01-01BRYAN BOWERS2013-10-13
0012011-01-01BRYAN R. BOWERS BRYAN R. BOWERS2012-10-11
0012010-01-01BRYAN R. BOWERS BRYAN R. BOWERS2011-10-13
0012009-01-01BRYAN BOWERS BRYAN BOWERS2010-10-11

Plan Statistics for CLIFT, INC. 401(K) PROFIT SHARING PLAN

401k plan membership statisitcs for CLIFT, INC. 401(K) PROFIT SHARING PLAN

Measure Date Value
2011: CLIFT, INC. 401(K) PROFIT SHARING PLAN 2011 401k membership
Total participants, beginning-of-year2011-01-0138
Total number of active participants reported on line 7a of the Form 55002011-01-0137
Number of retired or separated participants receiving benefits2011-01-010
Number of other retired or separated participants entitled to future benefits2011-01-010
Total of all active and inactive participants2011-01-0137
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2011-01-010
Total participants2011-01-0137
Number of participants with account balances2011-01-0137
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2011-01-010
2010: CLIFT, INC. 401(K) PROFIT SHARING PLAN 2010 401k membership
Total participants, beginning-of-year2010-01-0137
Total number of active participants reported on line 7a of the Form 55002010-01-0138
Number of retired or separated participants receiving benefits2010-01-010
Number of other retired or separated participants entitled to future benefits2010-01-010
Total of all active and inactive participants2010-01-0138
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2010-01-010
Total participants2010-01-0138
Number of participants with account balances2010-01-0138
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2010-01-010
2009: CLIFT, INC. 401(K) PROFIT SHARING PLAN 2009 401k membership
Total participants, beginning-of-year2009-01-0140
Total number of active participants reported on line 7a of the Form 55002009-01-0137
Number of retired or separated participants receiving benefits2009-01-010
Number of other retired or separated participants entitled to future benefits2009-01-010
Total of all active and inactive participants2009-01-0137
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2009-01-010
Total participants2009-01-0137
Number of participants with account balances2009-01-0137
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-01-010

Financial Data on CLIFT, INC. 401(K) PROFIT SHARING PLAN

Measure Date Value
2011 : CLIFT, INC. 401(K) PROFIT SHARING PLAN 2011 401k financial data
Total plan liabilities at end of year2011-12-31$0
Total plan liabilities at beginning of year2011-12-31$0
Total income from all sources2011-12-31$23,149
Expenses. Total of all expenses incurred2011-12-31$4,807
Benefits paid (including direct rollovers)2011-12-31$4,342
Total plan assets at end of year2011-12-31$2,701,658
Total plan assets at beginning of year2011-12-31$2,683,316
Total contributions received or receivable from participants2011-12-31$74,071
Expenses. Other expenses not covered elsewhere2011-12-31$465
Contributions received from other sources (not participants or employers)2011-12-31$32,630
Other income received2011-12-31$-83,628
Net income (gross income less expenses)2011-12-31$18,342
Net plan assets at end of year (total assets less liabilities)2011-12-31$2,701,658
Net plan assets at beginning of year (total assets less liabilities)2011-12-31$2,683,316
Assets. Value of participant loans2011-12-31$34,698
Total contributions received or receivable from employer(s)2011-12-31$76
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2011-12-31$0
2010 : CLIFT, INC. 401(K) PROFIT SHARING PLAN 2010 401k financial data
Total plan liabilities at end of year2010-12-31$0
Total plan liabilities at beginning of year2010-12-31$0
Total income from all sources2010-12-31$373,735
Expenses. Total of all expenses incurred2010-12-31$1,452
Benefits paid (including direct rollovers)2010-12-31$1,452
Total plan assets at end of year2010-12-31$2,683,316
Total plan assets at beginning of year2010-12-31$2,311,033
Total contributions received or receivable from participants2010-12-31$74,854
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$298,881
Net income (gross income less expenses)2010-12-31$372,283
Net plan assets at end of year (total assets less liabilities)2010-12-31$2,683,316
Net plan assets at beginning of year (total assets less liabilities)2010-12-31$2,311,033
Assets. Value of participant loans2010-12-31$18,402
Total contributions received or receivable from employer(s)2010-12-31$0
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$0
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2010-12-31$0
2009 : CLIFT, INC. 401(K) PROFIT SHARING PLAN 2009 401k financial data
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2009-12-31$0

Form 5500 Responses for CLIFT, INC. 401(K) PROFIT SHARING PLAN

2011: CLIFT, INC. 401(K) PROFIT SHARING 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 benefit arrangement – InsuranceYes
2010: CLIFT, INC. 401(K) PROFIT SHARING PLAN 2010 form 5500 responses
2010-01-01Type of plan entitySingle employer plan
2010-01-01Submission has been amendedNo
2010-01-01This submission is the final filingNo
2010-01-01This return/report is a short plan year return/report (less than 12 months)No
2010-01-01Plan is a collectively bargained planNo
2010-01-01Plan funding arrangement – InsuranceYes
2010-01-01Plan benefit arrangement – InsuranceYes
2009: CLIFT, INC. 401(K) PROFIT SHARING PLAN 2009 form 5500 responses
2009-01-01Type of plan entitySingle employer plan
2009-01-01Submission has been amendedNo
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

JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )
Policy contract number56731
Policy instance 1
Insurance contract or identification number56731
Number of Individuals Covered37
Insurance policy start date2011-01-01
Insurance policy end date2011-12-31
Total amount of commissions paid to insurance brokerUSD $7,208
Total amount of fees paid to insurance companyUSD $150
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 Administration0
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
JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )
Policy contract number56731
Policy instance 1
Insurance contract or identification number56731
Number of Individuals Covered38
Insurance policy start date2010-01-01
Insurance policy end date2010-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $6,558
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 Administration0
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
Amount paid for insurance broker fees6358
Additional information about fees paid to insurance brokerCOMMISSIONS
Insurance broker organization code?4
Insurance broker nameB. R. BOWERS & COMPANY

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