401k Plan data: MINGHUA USA, INC. 401(K) PLAN plan

MINGHUA USA, INC. 401(K) PLAN 401k Plan overview

Plan Name	MINGHUA USA, INC. 401(K) PLAN
Plan identification number	001

MINGHUA USA, INC. 401(K) PLAN Benefits

401k Plan Type

Defined Contribution Pension

Plan Features/Benefits

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

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

Company Name: MINGHUA USA, INC.

Employer identification number (EIN): 611793471

NAIC Classification: 336300

Form 5500 Filing Information

Submission information for form 5500 for 401k plan MINGHUA USA, INC. 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator Signed Name of Company Sponsor Date Sponsor Signed
001 2022-01-01 TRISH BARTLEY 2023-07-10
001 2021-01-01
001 2020-01-01
001 2019-01-01
001 2018-01-01 XUELIN CAI 2019-10-07
001 2017-09-01 XIAOJIANG ZHANG 2018-11-07

Plan id#	Filing Submission Date	Name of Administrator	Date Administrator Signed
001	2022-01-01	TRISH BARTLEY	2023-07-10
001	2021-01-01
001	2020-01-01
001	2019-01-01
001	2018-01-01	XUELIN CAI	2019-10-07
001	2017-09-01	XIAOJIANG ZHANG	2018-11-07

Plan Statistics for MINGHUA USA, INC. 401(K) PLAN

401k plan membership statisitcs for MINGHUA USA, INC. 401(K) PLAN

Measure Date Value
2021: MINGHUA USA, INC. 401(K) PLAN 2021 401k membership
Total participants, beginning-of-year 2021-01-01 283
Total number of active participants reported on line 7a of the Form 5500 2021-01-01 0
Number of retired or separated participants receiving benefits 2021-01-01 1
Number of other retired or separated participants entitled to future benefits 2021-01-01 0
Total of all active and inactive participants 2021-01-01 1
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2021-01-01 0
Total participants 2021-01-01 1
Number of participants with account balances 2021-01-01 1
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2021-01-01 0
2020: MINGHUA USA, INC. 401(K) PLAN 2020 401k membership
Total participants, beginning-of-year 2020-01-01 197
Total number of active participants reported on line 7a of the Form 5500 2020-01-01 244
Number of retired or separated participants receiving benefits 2020-01-01 2
Number of other retired or separated participants entitled to future benefits 2020-01-01 11
Total of all active and inactive participants 2020-01-01 257
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2020-01-01 0
Total participants 2020-01-01 257
Number of participants with account balances 2020-01-01 90
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2020-01-01 0
2019: MINGHUA USA, INC. 401(K) PLAN 2019 401k membership
Total participants, beginning-of-year 2019-01-01 146
Total number of active participants reported on line 7a of the Form 5500 2019-01-01 180
Number of retired or separated participants receiving benefits 2019-01-01 0
Number of other retired or separated participants entitled to future benefits 2019-01-01 10
Total of all active and inactive participants 2019-01-01 190
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2019-01-01 0
Total participants 2019-01-01 190
Number of participants with account balances 2019-01-01 58
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2019-01-01 0

Measure	Date	Value
2021: MINGHUA USA, INC. 401(K) PLAN 2021 401k membership
Total participants, beginning-of-year	2021-01-01	283
Total number of active participants reported on line 7a of the Form 5500	2021-01-01	0
Number of retired or separated participants receiving benefits	2021-01-01	1
Number of other retired or separated participants entitled to future benefits	2021-01-01	0
Total of all active and inactive participants	2021-01-01	1
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2021-01-01	0
Total participants	2021-01-01	1
Number of participants with account balances	2021-01-01	1
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2021-01-01	0
2020: MINGHUA USA, INC. 401(K) PLAN 2020 401k membership
Total participants, beginning-of-year	2020-01-01	197
Total number of active participants reported on line 7a of the Form 5500	2020-01-01	244
Number of retired or separated participants receiving benefits	2020-01-01	2
Number of other retired or separated participants entitled to future benefits	2020-01-01	11
Total of all active and inactive participants	2020-01-01	257
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2020-01-01	0
Total participants	2020-01-01	257
Number of participants with account balances	2020-01-01	90
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2020-01-01	0
2019: MINGHUA USA, INC. 401(K) PLAN 2019 401k membership
Total participants, beginning-of-year	2019-01-01	146
Total number of active participants reported on line 7a of the Form 5500	2019-01-01	180
Number of retired or separated participants receiving benefits	2019-01-01	0
Number of other retired or separated participants entitled to future benefits	2019-01-01	10
Total of all active and inactive participants	2019-01-01	190
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2019-01-01	0
Total participants	2019-01-01	190
Number of participants with account balances	2019-01-01	58
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2019-01-01	0

Financial Data on MINGHUA USA, INC. 401(K) PLAN

Measure	Date	Value
2021 : MINGHUA USA, INC. 401(K) PLAN 2021 401k financial data
Total transfer of assets from this plan	2021-12-31	$122,178
Total income from all sources (including contributions)	2021-12-31	$874,541
Total of all expenses incurred	2021-12-31	$2,388,737
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2021-12-31	$2,366,718
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2021-12-31	$629,167
Value of total assets at end of year	2021-12-31	$135,026
Value of total assets at beginning of year	2021-12-31	$1,771,400
Total of administrative expenses incurred including professional, contract, advisory and management fees	2021-12-31	$22,019
Total interest from all sources	2021-12-31	$3,410
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2021-12-31	Yes
Value of any plan assets that reverted to the employer resulting from resoluton to terminate the plan	2021-12-31	$0
Was this plan covered by a fidelity bond	2021-12-31	Yes
Value of fidelity bond cover	2021-12-31	$30,000
If this is an individual account plan, was there a blackout period	2021-12-31	No
Were there any nonexempt tranactions with any party-in-interest	2021-12-31	No
Contributions received from participants	2021-12-31	$303,953
Participant contributions at end of year	2021-12-31	$0
Participant contributions at beginning of year	2021-12-31	$89,103
Income. Received or receivable in cash from other sources (including rollovers)	2021-12-31	$159,507
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2021-12-31	No
Value of net income/loss	2021-12-31	$-1,514,196
Value of net assets at end of year (total assets less liabilities)	2021-12-31	$135,026
Value of net assets at beginning of year (total assets less liabilities)	2021-12-31	$1,771,400
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2021-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2021-12-31	No
Were any leases to which the plan was party in default or uncollectible	2021-12-31	No
Value of interest in pooled separate accounts at end of year	2021-12-31	$135,026
Value of interest in pooled separate accounts at beginning of year	2021-12-31	$1,682,297
Interest on participant loans	2021-12-31	$3,410
Net investment gain/loss from pooled separate accounts	2021-12-31	$241,964
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2021-12-31	No
Was there a failure to transmit to the plan any participant contributions	2021-12-31	No
Has the plan failed to provide any benefit when due under the plan	2021-12-31	No
Contributions received in cash from employer	2021-12-31	$165,707
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2021-12-31	$2,366,718
Contract administrator fees	2021-12-31	$22,019
Did the plan have assets held for investment	2021-12-31	Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser	2021-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2021-12-31	No
Opinion of an independent qualified public accountant for this plan	2021-12-31	Unqualified
Accountancy firm name	2021-12-31	HANCOCK ASKEW & CO., LLP
Accountancy firm EIN	2021-12-31	580662558
2020 : MINGHUA USA, INC. 401(K) PLAN 2020 401k financial data
Total income from all sources (including contributions)	2020-12-31	$831,129
Total of all expenses incurred	2020-12-31	$163,870
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2020-12-31	$149,087
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2020-12-31	$623,084
Value of total assets at end of year	2020-12-31	$1,771,400
Value of total assets at beginning of year	2020-12-31	$1,104,141
Total of administrative expenses incurred including professional, contract, advisory and management fees	2020-12-31	$14,783
Total interest from all sources	2020-12-31	$1,727
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2020-12-31	No
Was this plan covered by a fidelity bond	2020-12-31	Yes
Value of fidelity bond cover	2020-12-31	$180,000
If this is an individual account plan, was there a blackout period	2020-12-31	No
Were there any nonexempt tranactions with any party-in-interest	2020-12-31	No
Contributions received from participants	2020-12-31	$349,439
Participant contributions at end of year	2020-12-31	$89,103
Participant contributions at beginning of year	2020-12-31	$27,721
Income. Received or receivable in cash from other sources (including rollovers)	2020-12-31	$70,800
Total non interest bearing cash at beginning of year	2020-12-31	$1,796
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2020-12-31	No
Value of net income/loss	2020-12-31	$667,259
Value of net assets at end of year (total assets less liabilities)	2020-12-31	$1,771,400
Value of net assets at beginning of year (total assets less liabilities)	2020-12-31	$1,104,141
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2020-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2020-12-31	No
Were any leases to which the plan was party in default or uncollectible	2020-12-31	No
Value of interest in pooled separate accounts at end of year	2020-12-31	$1,682,297
Value of interest in pooled separate accounts at beginning of year	2020-12-31	$1,073,436
Interest on participant loans	2020-12-31	$1,727
Net investment gain/loss from pooled separate accounts	2020-12-31	$206,318
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2020-12-31	No
Was there a failure to transmit to the plan any participant contributions	2020-12-31	No
Has the plan failed to provide any benefit when due under the plan	2020-12-31	No
Contributions received in cash from employer	2020-12-31	$202,845
Employer contributions (assets) at beginning of year	2020-12-31	$1,188
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2020-12-31	$149,087
Contract administrator fees	2020-12-31	$14,783
Did the plan have assets held for investment	2020-12-31	Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser	2020-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2020-12-31	No
Opinion of an independent qualified public accountant for this plan	2020-12-31	Unqualified
Accountancy firm name	2020-12-31	HANCOCK ASKEW & CO., LLP
Accountancy firm EIN	2020-12-31	580662558
2019 : MINGHUA USA, INC. 401(K) PLAN 2019 401k financial data
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2019-12-31	$314
Total income from all sources (including contributions)	2019-12-31	$700,641
Total of all expenses incurred	2019-12-31	$97,701
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2019-12-31	$88,341
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2019-12-31	$551,512
Value of total assets at end of year	2019-12-31	$1,104,141
Value of total assets at beginning of year	2019-12-31	$501,515
Total of administrative expenses incurred including professional, contract, advisory and management fees	2019-12-31	$9,360
Total interest from all sources	2019-12-31	$1,800
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2019-12-31	No
Was this plan covered by a fidelity bond	2019-12-31	Yes
Value of fidelity bond cover	2019-12-31	$120,000
If this is an individual account plan, was there a blackout period	2019-12-31	No
Were there any nonexempt tranactions with any party-in-interest	2019-12-31	No
Contributions received from participants	2019-12-31	$240,378
Participant contributions at end of year	2019-12-31	$27,721
Participant contributions at beginning of year	2019-12-31	$21,799
Income. Received or receivable in cash from other sources (including rollovers)	2019-12-31	$163,979
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year	2019-12-31	$314
Other income not declared elsewhere	2019-12-31	$219
Total non interest bearing cash at end of year	2019-12-31	$1,796
Total non interest bearing cash at beginning of year	2019-12-31	$1,796
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2019-12-31	No
Value of net income/loss	2019-12-31	$602,940
Value of net assets at end of year (total assets less liabilities)	2019-12-31	$1,104,141
Value of net assets at beginning of year (total assets less liabilities)	2019-12-31	$501,201
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2019-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2019-12-31	No
Were any leases to which the plan was party in default or uncollectible	2019-12-31	No
Value of interest in pooled separate accounts at end of year	2019-12-31	$1,073,436
Value of interest in pooled separate accounts at beginning of year	2019-12-31	$477,920
Interest on participant loans	2019-12-31	$1,800
Net investment gain/loss from pooled separate accounts	2019-12-31	$147,110
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2019-12-31	No
Was there a failure to transmit to the plan any participant contributions	2019-12-31	No
Has the plan failed to provide any benefit when due under the plan	2019-12-31	No
Contributions received in cash from employer	2019-12-31	$147,155
Employer contributions (assets) at end of year	2019-12-31	$1,188
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2019-12-31	$88,341
Contract administrator fees	2019-12-31	$9,360
Did the plan have assets held for investment	2019-12-31	Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser	2019-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2019-12-31	No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)	2019-12-31	Yes
Opinion of an independent qualified public accountant for this plan	2019-12-31	Disclaimer
Accountancy firm name	2019-12-31	HANCOCK ASKEW & CO., LLP
Accountancy firm EIN	2019-12-31	580662558

Form 5500 Responses for MINGHUA USA, INC. 401(K) PLAN

2021: MINGHUA USA, INC. 401(K) PLAN 2021 form 5500 responses
2021-01-01	Type of plan entity	Single employer plan
2021-01-01	Plan funding arrangement – Insurance	Yes
2021-01-01	Plan funding arrangement – Trust	Yes
2021-01-01	Plan benefit arrangement – Insurance	Yes
2021-01-01	Plan benefit arrangement - Trust	Yes
2020: MINGHUA USA, INC. 401(K) PLAN 2020 form 5500 responses
2020-01-01	Type of plan entity	Single employer plan
2020-01-01	Plan funding arrangement – Insurance	Yes
2020-01-01	Plan funding arrangement – Trust	Yes
2020-01-01	Plan benefit arrangement – Insurance	Yes
2020-01-01	Plan benefit arrangement - Trust	Yes
2019: MINGHUA USA, INC. 401(K) PLAN 2019 form 5500 responses
2019-01-01	Type of plan entity	Single employer plan
2019-01-01	Plan funding arrangement – Insurance	Yes
2019-01-01	Plan funding arrangement – Trust	Yes
2019-01-01	Plan benefit arrangement – Insurance	Yes
2019-01-01	Plan benefit arrangement - Trust	Yes

Insurance Providers Used on plan

JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )

Policy contract number

130862

Policy instance

Insurance contract or identification number	130862
Number of Individuals Covered	1
Insurance policy start date	2021-01-01
Insurance policy end date	2021-12-31
Total amount of commissions paid to insurance broker	USD $9,763
Total amount of fees paid to insurance company	USD $1,019
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?	No
Commission paid to Insurance Broker	USD $9,763
Additional information about fees paid to insurance broker	BROKER COMMISSION
Insurance broker organization code?	3
Amount paid for insurance broker fees	1019

JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )

Policy contract number

130862

Policy instance

Insurance contract or identification number	130862
Number of Individuals Covered	87
Insurance policy start date	2020-01-01
Insurance policy end date	2020-12-31
Total amount of commissions paid to insurance broker	USD $6,254
Total amount of fees paid to insurance company	USD $722
Commission paid to Insurance Broker	USD $6,254
Additional information about fees paid to insurance broker	BROKER COMMISSION
Insurance broker organization code?	3
Amount paid for insurance broker fees	722

JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )

Policy contract number

130862

Policy instance

Insurance contract or identification number	130862
Number of Individuals Covered	93
Insurance policy start date	2019-01-01
Insurance policy end date	2019-12-31
Total amount of commissions paid to insurance broker	USD $3,880
Total amount of fees paid to insurance company	USD $404
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?	No
Commission paid to Insurance Broker	USD $3,880
Additional information about fees paid to insurance broker	BROKER COMMISSION
Insurance broker organization code?	3
Amount paid for insurance broker fees	404

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Company Name:	MINGHUA USA, INC.
Employer identification number (EIN):	611793471
NAIC Classification:	336300