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INNOVATUS IMAGING CORPORATION 401(K) PLAN 401k Plan overview

Plan NameINNOVATUS IMAGING CORPORATION 401(K) PLAN
Plan identification number 001

INNOVATUS IMAGING CORPORATION 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.
  • Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
  • 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) received services of leased employees, as defined in Code section 414(n), during the plan year.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

INNOVATUS IMAGING CORPORATION has sponsored the creation of one or more 401k plans.

Company Name:INNOVATUS IMAGING CORPORATION
Employer identification number (EIN):822120535
NAIC Classification:811210
NAIC Description: Electronic and Precision Equipment Repair and Maintenance

Form 5500 Filing Information

Submission information for form 5500 for 401k plan INNOVATUS IMAGING CORPORATION 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01
0012021-01-01
0012020-01-01
0012020-01-01
0012018-01-01MINDY BONNELL2019-05-29
0012017-09-01MINDY BONNELL2018-05-31

Plan Statistics for INNOVATUS IMAGING CORPORATION 401(K) PLAN

401k plan membership statisitcs for INNOVATUS IMAGING CORPORATION 401(K) PLAN

Measure Date Value
2022: INNOVATUS IMAGING CORPORATION 401(K) PLAN 2022 401k membership
Total participants, beginning-of-year2022-01-01121
Total number of active participants reported on line 7a of the Form 55002022-01-0177
Number of retired or separated participants receiving benefits2022-01-010
Number of other retired or separated participants entitled to future benefits2022-01-0153
Total of all active and inactive participants2022-01-01130
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-01130
Number of participants with account balances2022-01-01130
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-010
2021: INNOVATUS IMAGING CORPORATION 401(K) PLAN 2021 401k membership
Total participants, beginning-of-year2021-01-01141
Total number of active participants reported on line 7a of the Form 55002021-01-01132
Number of retired or separated participants receiving benefits2021-01-010
Number of other retired or separated participants entitled to future benefits2021-01-0153
Total of all active and inactive participants2021-01-01185
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-010
Total participants2021-01-01185
Number of participants with account balances2021-01-01132
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-010
2020: INNOVATUS IMAGING CORPORATION 401(K) PLAN 2020 401k membership
Total participants, beginning-of-year2020-01-01176
Total number of active participants reported on line 7a of the Form 55002020-01-01126
Number of retired or separated participants receiving benefits2020-01-010
Number of other retired or separated participants entitled to future benefits2020-01-0155
Total of all active and inactive participants2020-01-01181
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-010
Total participants2020-01-01181
Number of participants with account balances2020-01-01139
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-010

Financial Data on INNOVATUS IMAGING CORPORATION 401(K) PLAN

Measure Date Value
2022 : INNOVATUS IMAGING CORPORATION 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$0
Total income from all sources (including contributions)2022-12-31$-927,650
Total loss/gain on sale of assets2022-12-31$0
Total of all expenses incurred2022-12-31$1,348,624
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-12-31$1,309,307
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-12-31$698,462
Value of total assets at end of year2022-12-31$8,076,731
Value of total assets at beginning of year2022-12-31$10,353,005
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-12-31$39,317
Total interest from all sources2022-12-31$7,369
Total dividends received (eg from common stock, registered investment company shares)2022-12-31$378,675
Total dividends received from registered investment company shares (eg mutual funds)2022-12-31$378,675
Administrative expenses professional fees incurred2022-12-31$39,317
Was this plan covered by a fidelity bond2022-12-31Yes
Value of fidelity bond cover2022-12-31$1,000,000
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$442,093
Participant contributions at end of year2022-12-31$155,094
Participant contributions at beginning of year2022-12-31$133,795
Total non interest bearing cash at end of year2022-12-31$5
Total non interest bearing cash at beginning of year2022-12-31$8,824
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Value of net income/loss2022-12-31$-2,276,274
Value of net assets at end of year (total assets less liabilities)2022-12-31$8,076,731
Value of net assets at beginning of year (total assets less liabilities)2022-12-31$10,353,005
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 registered invesment companies (eg mutual funds) at end of year2022-12-31$7,569,332
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2022-12-31$10,036,959
Interest on participant loans2022-12-31$7,369
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2022-12-31$352,300
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2022-12-31$173,427
Net investment gain/loss from registered investment companies (e.g. mutual funds)2022-12-31$-2,012,156
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$256,369
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-12-31$1,309,307
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 name2022-12-31COHEN & COMPANY
Accountancy firm EIN2022-12-31341912961
2021 : INNOVATUS IMAGING CORPORATION 401(K) PLAN 2021 401k financial data
Total unrealized appreciation/depreciation of assets2021-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2021-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2021-12-31$0
Total income from all sources (including contributions)2021-12-31$2,024,869
Total loss/gain on sale of assets2021-12-31$0
Total of all expenses incurred2021-12-31$648,097
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2021-12-31$608,612
Total contributions o plan (from employers,participants, others, non cash contrinutions)2021-12-31$733,767
Value of total assets at end of year2021-12-31$10,353,005
Value of total assets at beginning of year2021-12-31$8,976,233
Total of administrative expenses incurred including professional, contract, advisory and management fees2021-12-31$39,485
Total interest from all sources2021-12-31$7,812
Total dividends received (eg from common stock, registered investment company shares)2021-12-31$586,310
Total dividends received from registered investment company shares (eg mutual funds)2021-12-31$586,310
Was this plan covered by a fidelity bond2021-12-31Yes
Value of fidelity bond cover2021-12-31$1,000,000
If this is an individual account plan, was there a blackout period2021-12-31No
Were there any nonexempt tranactions with any party-in-interest2021-12-31No
Contributions received from participants2021-12-31$461,820
Participant contributions at end of year2021-12-31$133,795
Participant contributions at beginning of year2021-12-31$135,790
Income. Received or receivable in cash from other sources (including rollovers)2021-12-31$26,435
Total non interest bearing cash at end of year2021-12-31$8,824
Total non interest bearing cash at beginning of year2021-12-31$11,921
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2021-12-31No
Value of net income/loss2021-12-31$1,376,772
Value of net assets at end of year (total assets less liabilities)2021-12-31$10,353,005
Value of net assets at beginning of year (total assets less liabilities)2021-12-31$8,976,233
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2021-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2021-12-31No
Were any leases to which the plan was party in default or uncollectible2021-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2021-12-31$10,036,959
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2021-12-31$8,733,266
Interest on participant loans2021-12-31$7,812
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2021-12-31$173,427
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2021-12-31$95,256
Net investment gain/loss from registered investment companies (e.g. mutual funds)2021-12-31$696,980
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2021-12-31No
Was there a failure to transmit to the plan any participant contributions2021-12-31Yes
Has the plan failed to provide any benefit when due under the plan2021-12-31No
Contributions received in cash from employer2021-12-31$245,512
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2021-12-31$608,612
Contract administrator fees2021-12-31$39,485
Did the plan have assets held for investment2021-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2021-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2021-12-31No
Opinion of an independent qualified public accountant for this plan2021-12-31Unqualified
Accountancy firm name2021-12-31COHEN & COMPANY
Accountancy firm EIN2021-12-31341912961
2020 : INNOVATUS IMAGING CORPORATION 401(K) PLAN 2020 401k financial data
Total unrealized appreciation/depreciation of assets2020-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2020-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2020-12-31$0
Total income from all sources (including contributions)2020-12-31$2,145,443
Total loss/gain on sale of assets2020-12-31$0
Total of all expenses incurred2020-12-31$2,045,689
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2020-12-31$1,989,030
Expenses. Certain deemed distributions of participant loans2020-12-31$21,799
Total contributions o plan (from employers,participants, others, non cash contrinutions)2020-12-31$867,294
Value of total assets at end of year2020-12-31$8,976,233
Value of total assets at beginning of year2020-12-31$8,876,479
Total of administrative expenses incurred including professional, contract, advisory and management fees2020-12-31$34,860
Total interest from all sources2020-12-31$8,000
Total dividends received (eg from common stock, registered investment company shares)2020-12-31$330,016
Total dividends received from registered investment company shares (eg mutual funds)2020-12-31$330,016
Was this plan covered by a fidelity bond2020-12-31Yes
Value of fidelity bond cover2020-12-31$1,000,000
If this is an individual account plan, was there a blackout period2020-12-31No
Were there any nonexempt tranactions with any party-in-interest2020-12-31No
Contributions received from participants2020-12-31$496,173
Participant contributions at end of year2020-12-31$135,790
Participant contributions at beginning of year2020-12-31$143,646
Income. Received or receivable in cash from other sources (including rollovers)2020-12-31$43,222
Total non interest bearing cash at end of year2020-12-31$11,921
Total non interest bearing cash at beginning of year2020-12-31$11,799
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2020-12-31No
Value of net income/loss2020-12-31$99,754
Value of net assets at end of year (total assets less liabilities)2020-12-31$8,976,233
Value of net assets at beginning of year (total assets less liabilities)2020-12-31$8,876,479
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2020-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2020-12-31No
Were any leases to which the plan was party in default or uncollectible2020-12-31No
Investment advisory and management fees2020-12-31$34,860
Value of interest in registered invesment companies (eg mutual funds) at end of year2020-12-31$8,733,266
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2020-12-31$8,541,993
Interest on participant loans2020-12-31$8,000
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2020-12-31$95,256
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2020-12-31$179,041
Net investment gain/loss from registered investment companies (e.g. mutual funds)2020-12-31$940,133
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2020-12-31No
Was there a failure to transmit to the plan any participant contributions2020-12-31Yes
Has the plan failed to provide any benefit when due under the plan2020-12-31No
Contributions received in cash from employer2020-12-31$327,899
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2020-12-31$1,989,030
Did the plan have assets held for investment2020-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2020-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2020-12-31No
Opinion of an independent qualified public accountant for this plan2020-12-31Disclaimer
Accountancy firm name2020-12-31COHEN & COMPANY
Accountancy firm EIN2020-12-31341912961

Form 5500 Responses for INNOVATUS IMAGING CORPORATION 401(K) PLAN

2022: INNOVATUS IMAGING CORPORATION 401(K) PLAN 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 – InsuranceYes
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement – InsuranceYes
2022-01-01Plan benefit arrangement - TrustYes
2021: INNOVATUS IMAGING CORPORATION 401(K) PLAN 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 – InsuranceYes
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement – InsuranceYes
2021-01-01Plan benefit arrangement - TrustYes
2020: INNOVATUS IMAGING CORPORATION 401(K) PLAN 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 – InsuranceYes
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement – InsuranceYes
2020-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 68322 )
Policy contract number501425-01
Policy instance 1
Insurance contract or identification number501425-01
Number of Individuals Covered19
Insurance policy start date2022-01-01
Insurance policy end date2022-12-31
Total amount of commissions paid to insurance brokerUSD $0
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?Yes
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
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 68322 )
Policy contract number501425-01
Policy instance 1
Insurance contract or identification number501425-01
Number of Individuals Covered16
Insurance policy start date2021-01-01
Insurance policy end date2021-12-31
Total amount of commissions paid to insurance brokerUSD $0
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?Yes
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
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 68322 )
Policy contract number501425-01
Policy instance 1
Insurance contract or identification number501425-01
Number of Individuals Covered14
Insurance policy start date2020-01-01
Insurance policy end date2020-12-31
Total amount of commissions paid to insurance brokerUSD $0
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?Yes
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
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No

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