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BFY BRANDS, INC. 401(K) PLAN 401k Plan overview

Plan NameBFY BRANDS, INC. 401(K) PLAN
Plan identification number 001

BFY BRANDS, INC. 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.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

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

Company Name:BFY BRANDS, INC.
Employer identification number (EIN):404339320
NAIC Classification:454390
NAIC Description:Other Direct Selling Establishments

Form 5500 Filing Information

Submission information for form 5500 for 401k plan BFY BRANDS, INC. 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012018-01-01
0012018-01-01
0012017-01-01BRAD EUKER

Plan Statistics for BFY BRANDS, INC. 401(K) PLAN

401k plan membership statisitcs for BFY BRANDS, INC. 401(K) PLAN

Measure Date Value
2018: BFY BRANDS, INC. 401(K) PLAN 2018 401k membership
Total participants, beginning-of-year2018-01-01439
Total number of active participants reported on line 7a of the Form 55002018-01-01519
Number of retired or separated participants receiving benefits2018-01-011
Number of other retired or separated participants entitled to future benefits2018-01-014
Total of all active and inactive participants2018-01-01524
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2018-01-010
Total participants2018-01-01524
Number of participants with account balances2018-01-0142
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2018-01-010
2017: BFY BRANDS, INC. 401(K) PLAN 2017 401k membership
Total participants, beginning-of-year2017-01-01446
Total number of active participants reported on line 7a of the Form 55002017-01-01431
Number of retired or separated participants receiving benefits2017-01-011
Number of other retired or separated participants entitled to future benefits2017-01-010
Total of all active and inactive participants2017-01-01432
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2017-01-010
Total participants2017-01-01432
Number of participants with account balances2017-01-0141
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2017-01-010

Financial Data on BFY BRANDS, INC. 401(K) PLAN

Measure Date Value
2018 : BFY BRANDS, INC. 401(K) PLAN 2018 401k financial data
Total unrealized appreciation/depreciation of assets2018-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2018-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2018-12-31$0
Total income from all sources (including contributions)2018-12-31$124,491
Total loss/gain on sale of assets2018-12-31$0
Total of all expenses incurred2018-12-31$100,992
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2018-12-31$94,135
Total contributions o plan (from employers,participants, others, non cash contrinutions)2018-12-31$162,185
Value of total assets at end of year2018-12-31$777,890
Value of total assets at beginning of year2018-12-31$754,391
Total of administrative expenses incurred including professional, contract, advisory and management fees2018-12-31$6,857
Total interest from all sources2018-12-31$275
Total dividends received (eg from common stock, registered investment company shares)2018-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2018-12-31No
Was this plan covered by a fidelity bond2018-12-31Yes
Value of fidelity bond cover2018-12-31$500,000
If this is an individual account plan, was there a blackout period2018-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2018-12-31$0
Were there any nonexempt tranactions with any party-in-interest2018-12-31No
Contributions received from participants2018-12-31$162,185
Participant contributions at end of year2018-12-31$4,277
Participant contributions at beginning of year2018-12-31$247
Participant contributions at end of year2018-12-31$3,996
Participant contributions at beginning of year2018-12-31$2,805
Value of other receiveables (less allowance for doubtful accounts) at end of year2018-12-31$7
Other income not declared elsewhere2018-12-31$18
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2018-12-31No
Value of net income/loss2018-12-31$23,499
Value of net assets at end of year (total assets less liabilities)2018-12-31$777,890
Value of net assets at beginning of year (total assets less liabilities)2018-12-31$754,391
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2018-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2018-12-31No
Were any leases to which the plan was party in default or uncollectible2018-12-31No
Investment advisory and management fees2018-12-31$6,067
Value of interest in registered invesment companies (eg mutual funds) at end of year2018-12-31$769,610
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2018-12-31$751,339
Interest on participant loans2018-12-31$275
Net investment gain/loss from registered investment companies (e.g. mutual funds)2018-12-31$-37,987
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2018-12-31No
Was there a failure to transmit to the plan any participant contributions2018-12-31No
Has the plan failed to provide any benefit when due under the plan2018-12-31No
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2018-12-31$94,135
Contract administrator fees2018-12-31$790
Did the plan have assets held for investment2018-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2018-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2018-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2018-12-31Yes
Opinion of an independent qualified public accountant for this plan2018-12-31Disclaimer
Accountancy firm name2018-12-31RBT CPA'S LLP
Accountancy firm EIN2018-12-31141604297
2017 : BFY BRANDS, INC. 401(K) PLAN 2017 401k financial data
Total unrealized appreciation/depreciation of assets2017-12-31$0
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$346,369
Total loss/gain on sale of assets2017-12-31$0
Total of all expenses incurred2017-12-31$270,307
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2017-12-31$191,590
Expenses. Certain deemed distributions of participant loans2017-12-31$9,592
Value of total corrective distributions2017-12-31$64,922
Total contributions o plan (from employers,participants, others, non cash contrinutions)2017-12-31$246,212
Value of total assets at end of year2017-12-31$754,391
Value of total assets at beginning of year2017-12-31$678,329
Total of administrative expenses incurred including professional, contract, advisory and management fees2017-12-31$4,203
Total interest from all sources2017-12-31$1,095
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 year2017-12-31No
Was this plan covered by a fidelity bond2017-12-31Yes
Value of fidelity bond cover2017-12-31$2,000,000
If this is an individual account plan, was there a blackout period2017-12-31Yes
Were there any nonexempt tranactions with any party-in-interest2017-12-31No
Contributions received from participants2017-12-31$196,056
Participant contributions at end of year2017-12-31$247
Participant contributions at beginning of year2017-12-31$2,703
Participant contributions at end of year2017-12-31$2,805
Income. Received or receivable in cash from other sources (including rollovers)2017-12-31$50,156
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2017-12-31No
Value of net income/loss2017-12-31$76,062
Value of net assets at end of year (total assets less liabilities)2017-12-31$754,391
Value of net assets at beginning of year (total assets less liabilities)2017-12-31$678,329
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2017-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2017-12-31No
Were any leases to which the plan was party in default or uncollectible2017-12-31No
Investment advisory and management fees2017-12-31$3,487
Value of interest in registered invesment companies (eg mutual funds) at end of year2017-12-31$751,339
Value of interest in pooled separate accounts at beginning of year2017-12-31$560,640
Interest on participant loans2017-12-31$183
Interest earned on other investments2017-12-31$912
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2017-12-31$114,986
Net investment gain/loss from registered investment companies (e.g. mutual funds)2017-12-31$71,063
Net investment gain/loss from pooled separate accounts2017-12-31$27,999
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2017-12-31No
Was there a failure to transmit to the plan any participant contributions2017-12-31No
Has the plan failed to provide any benefit when due under the plan2017-12-31No
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2017-12-31$191,590
Contract administrator fees2017-12-31$716
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32017-12-31Yes
Did the plan have assets held for investment2017-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2017-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2017-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2017-12-31Yes
Opinion of an independent qualified public accountant for this plan2017-12-31Disclaimer
Accountancy firm name2017-12-31RBT CPA'S LLP
Accountancy firm EIN2017-12-31141604297

Form 5500 Responses for BFY BRANDS, INC. 401(K) PLAN

2018: BFY BRANDS, INC. 401(K) PLAN 2018 form 5500 responses
2018-01-01Type of plan entitySingle employer plan
2018-01-01Submission has been amendedYes
2018-01-01This submission is the final filingNo
2018-01-01This return/report is a short plan year return/report (less than 12 months)No
2018-01-01Plan is a collectively bargained planNo
2018-01-01Plan funding arrangement – InsuranceYes
2018-01-01Plan funding arrangement – TrustYes
2018-01-01Plan benefit arrangement – InsuranceYes
2018-01-01Plan benefit arrangement - TrustYes
2017: BFY BRANDS, INC. 401(K) PLAN 2017 form 5500 responses
2017-01-01Type of plan entitySingle employer plan
2017-01-01Submission has been amendedNo
2017-01-01This submission is the final filingNo
2017-01-01This return/report is a short plan year return/report (less than 12 months)No
2017-01-01Plan is a collectively bargained planNo
2017-01-01Plan funding arrangement – InsuranceYes
2017-01-01Plan funding arrangement – TrustYes
2017-01-01Plan benefit arrangement – InsuranceYes
2017-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

NATIONWIDE LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 66869 )
Policy contract numberGAP-CP-JY3S
Policy instance 1
Insurance contract or identification numberGAP-CP-JY3S
Number of Individuals Covered42
Insurance policy start date2018-01-01
Insurance policy end date2018-12-31
Total amount of commissions paid to insurance brokerUSD $312
Total amount of fees paid to insurance companyUSD $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 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
Commission paid to Insurance BrokerUSD $312
Amount paid for insurance broker fees0
Insurance broker organization code?7
NATIONWIDE LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 66869 )
Policy contract numberGAP-CP-JY3S
Policy instance 1
Insurance contract or identification numberGAP-CP-JY3S
Number of Individuals Covered41
Insurance policy start date2017-01-01
Insurance policy end date2017-12-31
Total amount of commissions paid to insurance brokerUSD $1,352
Total amount of fees paid to insurance companyUSD $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 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
Commission paid to Insurance BrokerUSD $1,352
Amount paid for insurance broker fees0
Insurance broker organization code?7
Insurance broker nameMML INVESTORS SERVICES, LLC
SENTRY LIFE INSURANCE COMPANY OF NEW YORK (National Association of Insurance Commissioners NAIC id number: 68829 )
Policy contract number01-08044-01
Policy instance 2
Insurance contract or identification number01-08044-01
Number of Individuals Covered0
Insurance policy start date2017-01-01
Insurance policy end date2017-12-31
Total amount of commissions paid to insurance brokerUSD $176
Total amount of fees paid to insurance companyUSD $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 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
Commission paid to Insurance BrokerUSD $176
Amount paid for insurance broker fees0
Insurance broker organization code?3
Insurance broker nameANTHONY GRASSI

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