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INTERNATIONAL AUTO PROCESSING INC 401K RETIREMENT PLAN 401k Plan overview

Plan NameINTERNATIONAL AUTO PROCESSING INC 401K RETIREMENT PLAN
Plan identification number 001

INTERNATIONAL AUTO PROCESSING INC 401K RETIREMENT 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

INTERNATIONAL AUTO PROCESSING INC has sponsored the creation of one or more 401k plans.

Company Name:INTERNATIONAL AUTO PROCESSING INC
Employer identification number (EIN):581656828
NAIC Classification:493100

Additional information about INTERNATIONAL AUTO PROCESSING INC

Jurisdiction of Incorporation: Georgia Department of States Corporations Division
Incorporation Date:
Company Identification Number: 694320

More information about INTERNATIONAL AUTO PROCESSING INC

Form 5500 Filing Information

Submission information for form 5500 for 401k plan INTERNATIONAL AUTO PROCESSING INC 401K RETIREMENT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012009-01-01KAREN B HOLLOWAY ROBERT L MILLER2011-03-08
0012009-01-01KAREN B HOLLOWAY

Plan Statistics for INTERNATIONAL AUTO PROCESSING INC 401K RETIREMENT PLAN

401k plan membership statisitcs for INTERNATIONAL AUTO PROCESSING INC 401K RETIREMENT PLAN

Measure Date Value
2009: INTERNATIONAL AUTO PROCESSING INC 401K RETIREMENT PLAN 2009 401k membership
Total participants, beginning-of-year2009-01-01134
Total number of active participants reported on line 7a of the Form 55002009-01-01128
Number of retired or separated participants receiving benefits2009-01-010
Number of other retired or separated participants entitled to future benefits2009-01-0116
Total of all active and inactive participants2009-01-01144
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2009-01-010
Total participants2009-01-01144
Number of participants with account balances2009-01-01114
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-01-014

Financial Data on INTERNATIONAL AUTO PROCESSING INC 401K RETIREMENT PLAN

Measure Date Value
2010 : INTERNATIONAL AUTO PROCESSING INC 401K RETIREMENT PLAN 2010 401k financial data
Value of total assets at beginning of year2010-12-31$1,950,905
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2010-12-31No
Was this plan covered by a fidelity bond2010-12-31No
If this is an individual account plan, was there a blackout period2010-12-31No
Were there any nonexempt tranactions with any party-in-interest2010-12-31No
Participant contributions at beginning of year2010-12-31$132,683
Participant contributions at beginning of year2010-12-31$5,009
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2010-12-31No
Value of net assets at beginning of year (total assets less liabilities)2010-12-31$1,950,905
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2010-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2010-12-31No
Were any leases to which the plan was party in default or uncollectible2010-12-31No
Value of interest in pooled separate accounts at beginning of year2010-12-31$1,478,199
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2010-12-31$333,097
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2010-12-31No
Was there a failure to transmit to the plan any participant contributions2010-12-31No
Has the plan failed to provide any benefit when due under the plan2010-12-31No
Employer contributions (assets) at beginning of year2010-12-31$1,917
Did the plan have assets held for investment2010-12-31No
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2010-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2010-12-31No
Total transfer of assets from this plan2010-10-22$2,017,873
Total income from all sources (including contributions)2010-10-22$138,263
Total of all expenses incurred2010-10-22$71,296
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2010-10-22$64,307
Total contributions o plan (from employers,participants, others, non cash contrinutions)2010-10-22$43,633
Value of total assets at beginning of year2010-10-22$1,950,905
Total of administrative expenses incurred including professional, contract, advisory and management fees2010-10-22$6,989
Total interest from all sources2010-10-22$4,327
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2010-10-22No
Was this plan covered by a fidelity bond2010-10-22No
If this is an individual account plan, was there a blackout period2010-10-22No
Were there any nonexempt tranactions with any party-in-interest2010-10-22No
Contributions received from participants2010-10-22$31,072
Participant contributions at beginning of year2010-10-22$132,683
Participant contributions at beginning of year2010-10-22$5,009
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2010-10-22No
Value of net income/loss2010-10-22$66,967
Value of net assets at beginning of year (total assets less liabilities)2010-10-22$1,950,905
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2010-10-22No
Were any loans by the plan or fixed income obligations due to the plan in default2010-10-22No
Were any leases to which the plan was party in default or uncollectible2010-10-22No
Value of interest in pooled separate accounts at beginning of year2010-10-22$1,478,199
Interest on participant loans2010-10-22$1,616
Interest earned on other investments2010-10-22$2,711
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2010-10-22$333,097
Net investment gain/loss from pooled separate accounts2010-10-22$90,303
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2010-10-22No
Was there a failure to transmit to the plan any participant contributions2010-10-22No
Has the plan failed to provide any benefit when due under the plan2010-10-22No
Contributions received in cash from employer2010-10-22$12,561
Employer contributions (assets) at beginning of year2010-10-22$1,917
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2010-10-22$64,307
Contract administrator fees2010-10-22$6,989
Did the plan have assets held for investment2010-10-22No
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2010-10-22No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2010-10-22Yes
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2010-10-22Yes
Opinion of an independent qualified public accountant for this plan2010-10-22Disclaimer
Accountancy firm name2010-10-22BLACK & PINCKARD LLC
Accountancy firm EIN2010-10-22260079381

Form 5500 Responses for INTERNATIONAL AUTO PROCESSING INC 401K RETIREMENT PLAN

2009: INTERNATIONAL AUTO PROCESSING INC 401K RETIREMENT PLAN 2009 form 5500 responses
2009-01-01Type of plan entitySingle employer plan
2009-01-01Plan funding arrangement – InsuranceYes
2009-01-01Plan funding arrangement – TrustYes
2009-01-01Plan benefit arrangement – InsuranceYes
2009-01-01Plan benefit arrangement - TrustYes

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