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IMAC HOLDINGS INC - 401(K) 401k Plan overview

Plan NameIMAC HOLDINGS INC - 401(K)
Plan identification number 001

IMAC HOLDINGS INC - 401(K) 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) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

IMAC HOLDINGS INC has sponsored the creation of one or more 401k plans.

Company Name:IMAC HOLDINGS INC
Employer identification number (EIN):830784691
NAIC Classification:621111
NAIC Description:Offices of Physicians (except Mental Health Specialists)

Form 5500 Filing Information

Submission information for form 5500 for 401k plan IMAC HOLDINGS INC - 401(K)

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01SHERI GARDZINA2024-05-30
0012022-01-01SHERI GARDZINA2023-06-20
0012021-01-01SHERI GARDZINA2022-06-06
0012020-01-01SHERI GARDZINA2021-06-02
0012019-01-01SHERI GARDZINA2020-07-27
0012018-01-01SHERI GARDZINA2019-08-02

Financial Data on IMAC HOLDINGS INC - 401(K)

Measure Date Value
2024 : IMAC HOLDINGS INC - 401(K) 2024 401k financial data
Total expenses incurred by plan in this plan year2024-05-30409676
Net assets as of the end of the plan year2024-05-301033084
Total assets as of the beginning of the plan year2024-05-301107010
Value of plan covered by a fidelity bond2024-05-30111000
Participant contributions to plan in this plan year2024-05-30118358
Value of participant loans at end of plan year2024-05-308100
Other income to plan in this plan year2024-05-30174453
Plan net income in this plan year2024-05-30-73926
Net assets as of the end of the plan year2024-05-301033084
Net assets as of the beginning of the plan year2024-05-301107010
Employer contributions to plan in this plan year2024-05-3042939
Expensese paid to adminstrative service provicers from plan in this plan year2024-05-3013662
2022 : IMAC HOLDINGS INC - 401(K) 2022 401k financial data
Total expenses incurred by plan in this plan year2022-06-0630534
Net assets as of the end of the plan year2022-06-06711712
Total assets as of the beginning of the plan year2022-06-06333420
Value of plan covered by a fidelity bond2022-06-0634000
Participant contributions to plan in this plan year2022-06-06214222
Value of participant loans at end of plan year2022-06-069995
Other contributions to plan in this plan year2022-06-0613836
Other income to plan in this plan year2022-06-0671072
Plan net income in this plan year2022-06-06378292
Net assets as of the end of the plan year2022-06-06711712
Net assets as of the beginning of the plan year2022-06-06333420
Employer contributions to plan in this plan year2022-06-06109696
Expensese paid to adminstrative service provicers from plan in this plan year2022-06-063429

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