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BRANCH METAL PROCESSING CORPORATION PROFIT SHARING PLAN AND TRUST 401k Plan overview

Plan NameBRANCH METAL PROCESSING CORPORATION PROFIT SHARING PLAN AND TRUST
Plan identification number 001

BRANCH METAL PROCESSING CORPORATION PROFIT SHARING PLAN AND TRUST Benefits

401k Plan TypeDefined 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.
  • 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.
  • 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

BRANCH METAL PROCESSING CORPORATION has sponsored the creation of one or more 401k plans.

Company Name:BRANCH METAL PROCESSING CORPORATION
Employer identification number (EIN):431169286
NAIC Classification:423930
NAIC Description:Recyclable Material Merchant Wholesalers

Form 5500 Filing Information

Submission information for form 5500 for 401k plan BRANCH METAL PROCESSING CORPORATION PROFIT SHARING PLAN AND TRUST

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012024-01-01DEBORAH MALM
0012023-01-01
0012023-01-01DANIEL KOOTMAN
0012022-01-01
0012022-01-01MICHAEL
0012021-01-01
0012021-01-01MICHAEL KOOTMAN
0012020-01-01
0012019-01-01
0012018-01-01MICHAEL KOOTMAN2019-10-14
0012017-01-01MICHAEL KOOTMAN2018-09-17
0012016-01-01MICHAEL KOOTMAN2017-05-01
0012015-01-01MICHAEL KOOTMAN2016-05-02
0012014-01-01MICHAEL KOOTMAN2015-06-19
0012013-01-01MICHAEL KOOTMAN2014-06-19
0012012-01-01MICHAEL KOOTMAN2013-09-04
0012011-01-01MICHAEL KOOTMAN2012-08-30 MICHAEL KOOTMAN2012-08-30
0012010-01-01MICHAEL KOOTMAN2011-04-06 MICHAEL KOOTMAN2011-04-06

Financial Data on BRANCH METAL PROCESSING CORPORATION PROFIT SHARING PLAN AND TRUST

Measure Date Value
2023 : BRANCH METAL PROCESSING CORPORATION PROFIT SHARING PLAN AND TRUST 2023 401k financial data
Total income from all sources2023-12-31$592,427
Expenses. Total of all expenses incurred2023-12-31$5,478,836
Benefits paid (including direct rollovers)2023-12-31$5,474,088
Total plan assets at end of year2023-12-31$1,787,444
Total plan assets at beginning of year2023-12-31$6,673,853
Value of fidelity bond covering the plan2023-12-31$500,000
Total contributions received or receivable from participants2023-12-31$66,848
Other income received2023-12-31$417,200
Net income (gross income less expenses)2023-12-31$-4,886,409
Net plan assets at end of year (total assets less liabilities)2023-12-31$1,787,444
Net plan assets at beginning of year (total assets less liabilities)2023-12-31$6,673,853
Assets. Value of employer securities2023-12-31$88,332
Total contributions received or receivable from employer(s)2023-12-31$108,379
Expenses. Administrative service providers (salaries,fees and commissions)2023-12-31$4,748
2022 : BRANCH METAL PROCESSING CORPORATION PROFIT SHARING PLAN AND TRUST 2022 401k financial data
Total income from all sources2022-12-31$-872,941
Expenses. Total of all expenses incurred2022-12-31$16,725
Benefits paid (including direct rollovers)2022-12-31$13,012
Total plan assets at end of year2022-12-31$6,673,853
Total plan assets at beginning of year2022-12-31$7,563,519
Value of fidelity bond covering the plan2022-12-31$500,000
Total contributions received or receivable from participants2022-12-31$35,542
Other income received2022-12-31$-1,034,603
Net income (gross income less expenses)2022-12-31$-889,666
Net plan assets at end of year (total assets less liabilities)2022-12-31$6,673,853
Net plan assets at beginning of year (total assets less liabilities)2022-12-31$7,563,519
Assets. Value of employer securities2022-12-31$81,716
Total contributions received or receivable from employer(s)2022-12-31$126,120
Value of certain deemed distributions of participant loans2022-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2022-12-31$3,713
2021 : BRANCH METAL PROCESSING CORPORATION PROFIT SHARING PLAN AND TRUST 2021 401k financial data
Total income from all sources2021-12-31$808,179
Expenses. Total of all expenses incurred2021-12-31$47,874
Benefits paid (including direct rollovers)2021-12-31$44,013
Total plan assets at end of year2021-12-31$7,563,519
Total plan assets at beginning of year2021-12-31$6,803,214
Value of fidelity bond covering the plan2021-12-31$500,000
Total contributions received or receivable from participants2021-12-31$70,722
Other income received2021-12-31$590,983
Net income (gross income less expenses)2021-12-31$760,305
Net plan assets at end of year (total assets less liabilities)2021-12-31$7,563,519
Net plan assets at beginning of year (total assets less liabilities)2021-12-31$6,803,214
Assets. Value of employer securities2021-12-31$79,053
Total contributions received or receivable from employer(s)2021-12-31$146,474
Expenses. Administrative service providers (salaries,fees and commissions)2021-12-31$3,861
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2021-12-31$0
2020 : BRANCH METAL PROCESSING CORPORATION PROFIT SHARING PLAN AND TRUST 2020 401k financial data
Total income from all sources2020-12-31$1,191,703
Expenses. Total of all expenses incurred2020-12-31$13,243
Benefits paid (including direct rollovers)2020-12-31$9,696
Total plan assets at end of year2020-12-31$6,803,214
Total plan assets at beginning of year2020-12-31$5,624,754
Value of fidelity bond covering the plan2020-12-31$500,000
Total contributions received or receivable from participants2020-12-31$66,551
Other income received2020-12-31$979,059
Net income (gross income less expenses)2020-12-31$1,178,460
Net plan assets at end of year (total assets less liabilities)2020-12-31$6,803,214
Net plan assets at beginning of year (total assets less liabilities)2020-12-31$5,624,754
Assets. Value of employer securities2020-12-31$74,055
Total contributions received or receivable from employer(s)2020-12-31$146,093
Expenses. Administrative service providers (salaries,fees and commissions)2020-12-31$3,547
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2020-12-31$0
2019 : BRANCH METAL PROCESSING CORPORATION PROFIT SHARING PLAN AND TRUST 2019 401k financial data
Total income from all sources2019-12-31$911,572
Expenses. Total of all expenses incurred2019-12-31$22,834
Benefits paid (including direct rollovers)2019-12-31$17,819
Total plan assets at end of year2019-12-31$5,624,754
Total plan assets at beginning of year2019-12-31$4,736,016
Value of fidelity bond covering the plan2019-12-31$500,000
Total contributions received or receivable from participants2019-12-31$65,925
Assets. Value of loans (other than to participants)2019-12-31$38,796
Other income received2019-12-31$763,936
Net income (gross income less expenses)2019-12-31$888,738
Net plan assets at end of year (total assets less liabilities)2019-12-31$5,624,754
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$4,736,016
Total contributions received or receivable from employer(s)2019-12-31$81,711
Expenses. Administrative service providers (salaries,fees and commissions)2019-12-31$5,015
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2019-12-31$0
2018 : BRANCH METAL PROCESSING CORPORATION PROFIT SHARING PLAN AND TRUST 2018 401k financial data
Total income from all sources2018-12-31$-105,925
Expenses. Total of all expenses incurred2018-12-31$5,266
Benefits paid (including direct rollovers)2018-12-31$302
Total plan assets at end of year2018-12-31$4,736,016
Total plan assets at beginning of year2018-12-31$4,847,207
Value of fidelity bond covering the plan2018-12-31$500,000
Total contributions received or receivable from participants2018-12-31$59,319
Assets. Value of loans (other than to participants)2018-12-31$74,055
Other income received2018-12-31$-240,266
Net income (gross income less expenses)2018-12-31$-111,191
Net plan assets at end of year (total assets less liabilities)2018-12-31$4,736,016
Net plan assets at beginning of year (total assets less liabilities)2018-12-31$4,847,207
Total contributions received or receivable from employer(s)2018-12-31$75,022
Expenses. Administrative service providers (salaries,fees and commissions)2018-12-31$4,964
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2018-12-31$0

Form 5500 Responses for BRANCH METAL PROCESSING CORPORATION PROFIT SHARING PLAN AND TRUST

2023: BRANCH METAL PROCESSING CORPORATION PROFIT SHARING PLAN AND TRUST 2023 form 5500 responses
2023-01-01Type of plan entitySingle employer plan
2023-01-01Submission has been amendedNo
2023-01-01This submission is the final filingNo
2023-01-01This return/report is a short plan year return/report (less than 12 months)No
2023-01-01Plan is a collectively bargained planNo
2023-01-01Plan funding arrangement – TrustYes
2023-01-01Plan benefit arrangement - TrustYes
2022: BRANCH METAL PROCESSING CORPORATION PROFIT SHARING PLAN AND TRUST 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: BRANCH METAL PROCESSING CORPORATION PROFIT SHARING PLAN AND TRUST 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01Submission has been amendedNo
2021-01-01This submission is the final filingNo
2021-01-01This return/report is a short plan year return/report (less than 12 months)No
2021-01-01Plan is a collectively bargained planNo
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement - TrustYes
2020: BRANCH METAL PROCESSING CORPORATION PROFIT SHARING PLAN AND TRUST 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
2020-01-01Submission has been amendedNo
2020-01-01This submission is the final filingNo
2020-01-01This return/report is a short plan year return/report (less than 12 months)No
2020-01-01Plan is a collectively bargained planNo
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement - TrustYes
2019: BRANCH METAL PROCESSING CORPORATION PROFIT SHARING PLAN AND TRUST 2019 form 5500 responses
2019-01-01Type of plan entitySingle employer plan
2019-01-01Submission has been amendedNo
2019-01-01This submission is the final filingNo
2019-01-01This return/report is a short plan year return/report (less than 12 months)No
2019-01-01Plan is a collectively bargained planNo
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement - TrustYes
2018: BRANCH METAL PROCESSING CORPORATION PROFIT SHARING PLAN AND TRUST 2018 form 5500 responses
2018-01-01Type of plan entitySingle employer plan
2018-01-01Submission has been amendedNo
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 – TrustYes
2018-01-01Plan benefit arrangement - TrustYes

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