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NEESSEN AUTOMOTIVE GROUP 401(K) PLAN 401k Plan overview

Plan NameNEESSEN AUTOMOTIVE GROUP 401(K) PLAN
Plan identification number 001

NEESSEN AUTOMOTIVE GROUP 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.
  • Participant-directed brokerage accounts provided as an investment option under the plan.
  • 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

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

Company Name:NEESSEN CHEVROLET, INC.
Employer identification number (EIN):742522779
NAIC Classification:423100

Form 5500 Filing Information

Submission information for form 5500 for 401k plan NEESSEN AUTOMOTIVE GROUP 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01PAYNE NEESSEN2024-09-10
0012022-01-01PAYNE NEESSEN2023-10-16

Financial Data on NEESSEN AUTOMOTIVE GROUP 401(K) PLAN

Measure Date Value
2025 : NEESSEN AUTOMOTIVE GROUP 401(K) PLAN 2025 401k financial data
Total transfers to/from plan in this plan year2025-06-100
Total liabilities as of the end of the plan year2025-06-100
Total liabilities as of the beginning of the plan year2025-06-100
Total expenses incurred by plan in this plan year2025-06-1077155
Net assets as of the end of the plan year2025-06-10513534
Total assets as of the beginning of the plan year2025-06-10378045
Participant contributions to plan in this plan year2025-06-1097580
Other expenses paid from plan in this plan year2025-06-100
Other contributions to plan in this plan year2025-06-100
Other income to plan in this plan year2025-06-1054260
Plan net income in this plan year2025-06-10135489
Net assets as of the end of the plan year2025-06-10513534
Net assets as of the beginning of the plan year2025-06-10378045
Employer contributions to plan in this plan year2025-06-1060804
Expensese paid to adminstrative service provicers from plan in this plan year2025-06-107396
2024 : NEESSEN AUTOMOTIVE GROUP 401(K) PLAN 2024 401k financial data
Total transfers to/from plan in this plan year2024-09-100
Total liabilities as of the end of the plan year2024-09-100
Total liabilities as of the beginning of the plan year2024-09-100
Total expenses incurred by plan in this plan year2024-09-1012716
Net assets as of the end of the plan year2024-09-10378045
Total assets as of the beginning of the plan year2024-09-10186158
Participant contributions to plan in this plan year2024-09-10108219
Other expenses paid from plan in this plan year2024-09-100
Other contributions to plan in this plan year2024-09-100
Other income to plan in this plan year2024-09-1041626
Plan net income in this plan year2024-09-10191887
Net assets as of the end of the plan year2024-09-10378045
Net assets as of the beginning of the plan year2024-09-10186158
Employer contributions to plan in this plan year2024-09-1054758
Expensese paid to adminstrative service provicers from plan in this plan year2024-09-103659
2022 : NEESSEN AUTOMOTIVE GROUP 401(K) PLAN 2022 401k financial data
Total unrealized appreciation/depreciation of assets2022-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$0
Total income from all sources (including contributions)2022-12-31$187,085
Total loss/gain on sale of assets2022-12-31$0
Total of all expenses incurred2022-12-31$927
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-12-31$0
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-12-31$195,408
Value of total assets at end of year2022-12-31$186,158
Value of total assets at beginning of year2022-12-31$0
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-12-31$927
Total interest from all sources2022-12-31$0
Total dividends received (eg from common stock, registered investment company shares)2022-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2022-12-31No
Was this plan covered by a fidelity bond2022-12-31No
If this is an individual account plan, was there a blackout period2022-12-31No
Were there any nonexempt tranactions with any party-in-interest2022-12-31No
Contributions received from participants2022-12-31$133,545
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Value of net income/loss2022-12-31$186,158
Value of net assets at end of year (total assets less liabilities)2022-12-31$186,158
Value of net assets at beginning of year (total assets less liabilities)2022-12-31$0
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2022-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2022-12-31No
Were any leases to which the plan was party in default or uncollectible2022-12-31No
Value of interest in pooled separate accounts at end of year2022-12-31$149,161
Value of interest in pooled separate accounts at beginning of year2022-12-31$0
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2022-12-31$36,997
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2022-12-31$0
Net investment gain/loss from pooled separate accounts2022-12-31$-8,323
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2022-12-31No
Was there a failure to transmit to the plan any participant contributions2022-12-31No
Has the plan failed to provide any benefit when due under the plan2022-12-31No
Contributions received in cash from employer2022-12-31$61,863
Contract administrator fees2022-12-31$927
Did the plan have assets held for investment2022-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2022-12-31No
Opinion of an independent qualified public accountant for this plan2022-12-31Unqualified
Accountancy firm name2022-12-31RILEY & CO. PLLC
Accountancy firm EIN2022-12-31760560371
Total unrealized appreciation/depreciation of assets2022-01-01$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-01-01$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-01-01$0
Total income from all sources (including contributions)2022-01-01$187,085
Total loss/gain on sale of assets2022-01-01$0
Total of all expenses incurred2022-01-01$927
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-01-01$0
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-01-01$195,408
Value of total assets at end of year2022-01-01$186,158
Value of total assets at beginning of year2022-01-01$0
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-01-01$927
Total interest from all sources2022-01-01$0
Total dividends received (eg from common stock, registered investment company shares)2022-01-01$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2022-01-01No
Was this plan covered by a fidelity bond2022-01-01No
If this is an individual account plan, was there a blackout period2022-01-01No
Were there any nonexempt tranactions with any party-in-interest2022-01-01No
Contributions received from participants2022-01-01$133,545
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-01-01No
Value of net income/loss2022-01-01$186,158
Value of net assets at end of year (total assets less liabilities)2022-01-01$186,158
Value of net assets at beginning of year (total assets less liabilities)2022-01-01$0
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2022-01-01No
Were any loans by the plan or fixed income obligations due to the plan in default2022-01-01No
Were any leases to which the plan was party in default or uncollectible2022-01-01No
Value of interest in pooled separate accounts at end of year2022-01-01$149,161
Value of interest in pooled separate accounts at beginning of year2022-01-01$0
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2022-01-01$36,997
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2022-01-01$0
Net investment gain/loss from pooled separate accounts2022-01-01$-8,323
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2022-01-01No
Was there a failure to transmit to the plan any participant contributions2022-01-01No
Has the plan failed to provide any benefit when due under the plan2022-01-01No
Contributions received in cash from employer2022-01-01$61,863
Contract administrator fees2022-01-01$927
Did the plan have assets held for investment2022-01-01Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2022-01-01No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2022-01-01No
Opinion of an independent qualified public accountant for this plan2022-01-011
Accountancy firm name2022-01-01RILEY & CO. PLLC
Accountancy firm EIN2022-01-01760560371

Form 5500 Responses for NEESSEN AUTOMOTIVE GROUP 401(K) PLAN

2022: NEESSEN AUTOMOTIVE GROUP 401(K) PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01First time form 5500 has been submittedYes
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 – InsuranceYes
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement – InsuranceYes
2022-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

VOYA RETIRIEMENT INSURANCE AND ANNUITY COMPANY (National Association of Insurance Commissioners NAIC id number: 86509 )
Policy contract number81J145
Policy instance 1

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