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WALLACE OIL COMPANY 401(K) AND PROFIT SHARING PLAN 401k Plan overview

Plan NameWALLACE OIL COMPANY 401(K) AND PROFIT SHARING PLAN
Plan identification number 002

WALLACE OIL COMPANY 401(K) AND PROFIT SHARING PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Age/Service Weighted or new comparability or similar plan - Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New comparability or similar plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the theshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of section 401(l).
  • 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.
  • 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

WALLACE OIL COMPANY has sponsored the creation of one or more 401k plans.

Company Name:WALLACE OIL COMPANY
Employer identification number (EIN):840516153
NAIC Classification:447100
NAIC Description: Gasoline Stations, Gas

Form 5500 Filing Information

Submission information for form 5500 for 401k plan WALLACE OIL COMPANY 401(K) AND PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022023-01-01
0022022-01-01
0022021-01-01
0022021-01-01
0022020-01-01
0022019-01-01
0022018-01-01JAMES P. WALLACE2019-04-16
0022017-01-01JAMES P. WALLACE2018-06-14
0022016-01-01JAMES P. WALLACE2017-07-25
0022013-01-01JAMES WALLACE2014-07-02
0022012-01-01JAMES WALLACE2013-03-18
0022011-01-01JAMES WALLACE2012-05-15
0022010-01-01JAMES WALLACE2011-06-22

Plan Statistics for WALLACE OIL COMPANY 401(K) AND PROFIT SHARING PLAN

401k plan membership statisitcs for WALLACE OIL COMPANY 401(K) AND PROFIT SHARING PLAN

Measure Date Value
2025: WALLACE OIL COMPANY 401(K) AND PROFIT SHARING PLAN 2025 401k membership
Total number of particpants at beginning of year2025-10-0735
Total number of particpants at end of year2025-10-0730
Number of Participants With Account Balances2025-10-0730
2024: WALLACE OIL COMPANY 401(K) AND PROFIT SHARING PLAN 2024 401k membership
Total number of particpants at beginning of year2024-08-2738
Total number of particpants at end of year2024-08-2735
Number of Participants With Account Balances2024-08-2735

Financial Data on WALLACE OIL COMPANY 401(K) AND PROFIT SHARING PLAN

Measure Date Value
2025 : WALLACE OIL COMPANY 401(K) AND PROFIT SHARING PLAN 2025 401k financial data
Total expenses incurred by plan in this plan year2025-10-07347201
Net assets as of the end of the plan year2025-10-073602191
Total assets as of the beginning of the plan year2025-10-073528995
Value of plan covered by a fidelity bond2025-10-07400000
Participant contributions to plan in this plan year2025-10-0794149
Value of participant loans at end of plan year2025-10-0721359
Other income to plan in this plan year2025-10-07326248
Plan net income in this plan year2025-10-0773196
Net assets as of the end of the plan year2025-10-073602191
Net assets as of the beginning of the plan year2025-10-073528995
Expensese paid to adminstrative service provicers from plan in this plan year2025-10-0714504
2024 : WALLACE OIL COMPANY 401(K) AND PROFIT SHARING PLAN 2024 401k financial data
Total expenses incurred by plan in this plan year2024-08-2762739
Net assets as of the end of the plan year2024-08-273528995
Total assets as of the beginning of the plan year2024-08-272947786
Value of plan covered by a fidelity bond2024-08-27300000
Participant contributions to plan in this plan year2024-08-27137365
Value of participant loans at end of plan year2024-08-2727019
Other income to plan in this plan year2024-08-27383365
Plan net income in this plan year2024-08-27581209
Net assets as of the end of the plan year2024-08-273528995
Net assets as of the beginning of the plan year2024-08-272947786
Employer contributions to plan in this plan year2024-08-27123218
Expensese paid to adminstrative service provicers from plan in this plan year2024-08-2712356

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