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CASITA 401(K) PLAN 401k Plan overview

Plan NameCASITA 401(K) PLAN
Plan identification number 002

CASITA 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) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

LA CASITA USED CARS, INC. has sponsored the creation of one or more 401k plans.

Company Name:LA CASITA USED CARS, INC.
Employer identification number (EIN):830792243
NAIC Classification:441110
NAIC Description:New Car Dealers

Additional information about LA CASITA USED CARS, INC.

Jurisdiction of Incorporation: Texas Secretary of State
Incorporation Date: 2018-06-11
Company Identification Number: 0803041299
Legal Registered Office Address: 5815 MONTANA AVE ATTN: JESSE MOLINA

EL PASO
United States of America (USA)
79925

More information about LA CASITA USED CARS, INC.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan CASITA 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022021-01-01SUSAN HARGROVE2022-01-25
0022020-01-01SUSAN HARGROVE2021-06-17
0022019-01-01

Financial Data on CASITA 401(K) PLAN

Measure Date Value
2022 : CASITA 401(K) PLAN 2022 401k financial data
Total transfers to/from plan in this plan year2022-01-25-177365
Total expenses incurred by plan in this plan year2022-01-252795
Net assets as of the end of the plan year2022-01-250
Total assets as of the beginning of the plan year2022-01-25154317
Value of plan covered by a fidelity bond2022-01-251000000
Participant contributions to plan in this plan year2022-01-2512090
Value of participant loans at end of plan year2022-01-250
Other income to plan in this plan year2022-01-2510729
Plan net income in this plan year2022-01-2523048
Net assets as of the end of the plan year2022-01-250
Net assets as of the beginning of the plan year2022-01-25154317
Employer contributions to plan in this plan year2022-01-253024
Fees paid to broker by Benefit Provider2022-01-2540
Expensese paid to adminstrative service provicers from plan in this plan year2022-01-251545
2019 : CASITA 401(K) PLAN 2019 401k financial data
Total transfer of assets from this plan2019-12-31$10,161,050
Total income from all sources (including contributions)2019-12-31$2,612,458
Total of all expenses incurred2019-12-31$1,280,166
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2019-12-31$1,256,850
Total contributions o plan (from employers,participants, others, non cash contrinutions)2019-12-31$758,742
Value of total assets at end of year2019-12-31$158,157
Value of total assets at beginning of year2019-12-31$8,986,915
Total of administrative expenses incurred including professional, contract, advisory and management fees2019-12-31$23,316
Total interest from all sources2019-12-31$22,390
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2019-12-31No
Was this plan covered by a fidelity bond2019-12-31Yes
Value of fidelity bond cover2019-12-31$1,000,000
If this is an individual account plan, was there a blackout period2019-12-31Yes
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2019-12-31$0
Were there any nonexempt tranactions with any party-in-interest2019-12-31No
Contributions received from participants2019-12-31$628,028
Participant contributions at end of year2019-12-31$16,114
Participant contributions at beginning of year2019-12-31$407,752
Income. Received or receivable in cash from other sources (including rollovers)2019-12-31$0
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2019-12-31No
Value of net income/loss2019-12-31$1,332,292
Value of net assets at end of year (total assets less liabilities)2019-12-31$158,157
Value of net assets at beginning of year (total assets less liabilities)2019-12-31$8,986,915
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2019-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2019-12-31No
Were any leases to which the plan was party in default or uncollectible2019-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2019-12-31$142,043
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2019-12-31$8,249,032
Interest on participant loans2019-12-31$22,390
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2019-12-31$330,131
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2019-12-31$330,131
Net investment gain/loss from registered investment companies (e.g. mutual funds)2019-12-31$1,831,326
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2019-12-31No
Was there a failure to transmit to the plan any participant contributions2019-12-31No
Has the plan failed to provide any benefit when due under the plan2019-12-31No
Contributions received in cash from employer2019-12-31$130,714
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2019-12-31$1,256,850
Contract administrator fees2019-12-31$23,316
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32019-12-31Yes
Did the plan have assets held for investment2019-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2019-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2019-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2019-12-31Yes
Opinion of an independent qualified public accountant for this plan2019-12-31Disclaimer
Accountancy firm name2019-12-31M. DEBORAH LUJAN, PC
Accountancy firm EIN2019-12-31832666631

Form 5500 Responses for CASITA 401(K) PLAN

2019: CASITA 401(K) PLAN 2019 form 5500 responses
2019-01-01Type of plan entitySingle employer plan
2019-01-01Plan funding arrangement – InsuranceYes
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement – InsuranceYes
2019-01-01Plan benefit arrangement - TrustYes

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