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QUALITY TELECOM CONSULTANTS, INC. 401(K) PLAN 401k Plan overview

Plan NameQUALITY TELECOM CONSULTANTS, INC. 401(K) PLAN
Plan identification number 001

QUALITY TELECOM CONSULTANTS, INC. 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.
  • 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

QUALITY TELECOM CONSULTANTS, INC. has sponsored the creation of one or more 401k plans.

Company Name:QUALITY TELECOM CONSULTANTS, INC.
Employer identification number (EIN):943386116
NAIC Classification:238900

Form 5500 Filing Information

Submission information for form 5500 for 401k plan QUALITY TELECOM CONSULTANTS, INC. 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
0012019-01-01
0012018-01-01LAYUNIE MATTHEWS
0012017-01-01LAYUNIE MATTHEWS
0012016-01-01CANDICE NORTHAM

Plan Statistics for QUALITY TELECOM CONSULTANTS, INC. 401(K) PLAN

401k plan membership statisitcs for QUALITY TELECOM CONSULTANTS, INC. 401(K) PLAN

Measure Date Value
2022: QUALITY TELECOM CONSULTANTS, INC. 401(K) PLAN 2022 401k membership
Total participants, beginning-of-year2022-01-01158
Total number of active participants reported on line 7a of the Form 55002022-01-01200
Number of retired or separated participants receiving benefits2022-01-010
Number of other retired or separated participants entitled to future benefits2022-01-0132
Total of all active and inactive participants2022-01-01232
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-01232
Number of participants with account balances2022-01-01157
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-010
2021: QUALITY TELECOM CONSULTANTS, INC. 401(K) PLAN 2021 401k membership
Total participants, beginning-of-year2021-01-01129
Total number of active participants reported on line 7a of the Form 55002021-01-01128
Number of retired or separated participants receiving benefits2021-01-010
Number of other retired or separated participants entitled to future benefits2021-01-0112
Total of all active and inactive participants2021-01-01140
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-010
Total participants2021-01-01140
Number of participants with account balances2021-01-01112
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-019
2020: QUALITY TELECOM CONSULTANTS, INC. 401(K) PLAN 2020 401k membership
Total participants, beginning-of-year2020-01-0194
Total number of active participants reported on line 7a of the Form 55002020-01-01122
Number of retired or separated participants receiving benefits2020-01-010
Number of other retired or separated participants entitled to future benefits2020-01-017
Total of all active and inactive participants2020-01-01129
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-010
Total participants2020-01-01129
Number of participants with account balances2020-01-0199
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-014
2019: QUALITY TELECOM CONSULTANTS, INC. 401(K) PLAN 2019 401k membership
Total participants, beginning-of-year2019-01-0193
Total number of active participants reported on line 7a of the Form 55002019-01-0194
Number of retired or separated participants receiving benefits2019-01-010
Number of other retired or separated participants entitled to future benefits2019-01-0115
Total of all active and inactive participants2019-01-01109
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-01109
Number of participants with account balances2019-01-0185
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-016
2018: QUALITY TELECOM CONSULTANTS, INC. 401(K) PLAN 2018 401k membership
Total participants, beginning-of-year2018-01-0190
Total number of active participants reported on line 7a of the Form 55002018-01-0191
Number of retired or separated participants receiving benefits2018-01-016
Number of other retired or separated participants entitled to future benefits2018-01-010
Total of all active and inactive participants2018-01-0197
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2018-01-010
Total participants2018-01-0197
Number of participants with account balances2018-01-0126
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2018-01-010
2017: QUALITY TELECOM CONSULTANTS, INC. 401(K) PLAN 2017 401k membership
Total participants, beginning-of-year2017-01-01105
Total number of active participants reported on line 7a of the Form 55002017-01-0190
Number of retired or separated participants receiving benefits2017-01-013
Number of other retired or separated participants entitled to future benefits2017-01-010
Total of all active and inactive participants2017-01-0193
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2017-01-010
Total participants2017-01-0193
Number of participants with account balances2017-01-0120
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2017-01-010
2016: QUALITY TELECOM CONSULTANTS, INC. 401(K) PLAN 2016 401k membership
Total participants, beginning-of-year2016-01-0197
Total number of active participants reported on line 7a of the Form 55002016-01-01105
Number of retired or separated participants receiving benefits2016-01-010
Number of other retired or separated participants entitled to future benefits2016-01-010
Total of all active and inactive participants2016-01-01105
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2016-01-010
Total participants2016-01-01105
Number of participants with account balances2016-01-0117
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2016-01-010

Financial Data on QUALITY TELECOM CONSULTANTS, INC. 401(K) PLAN

Measure Date Value
2022 : QUALITY TELECOM CONSULTANTS, INC. 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$261,756
Total loss/gain on sale of assets2022-12-31$0
Total of all expenses incurred2022-12-31$95,607
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-12-31$67,658
Value of total corrective distributions2022-12-31$26,979
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-12-31$495,082
Value of total assets at end of year2022-12-31$1,580,112
Value of total assets at beginning of year2022-12-31$1,413,963
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-12-31$970
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 bond2022-12-31Yes
Value of fidelity bond cover2022-12-31$200,000
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$249,612
Administrative expenses (other) incurred2022-12-31$970
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$166,149
Value of net assets at end of year (total assets less liabilities)2022-12-31$1,580,112
Value of net assets at beginning of year (total assets less liabilities)2022-12-31$1,413,963
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$1,577,550
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2022-12-31$1,380,934
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2022-12-31$2,562
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2022-12-31$33,029
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2022-12-31$33,029
Net investment gain/loss from registered investment companies (e.g. mutual funds)2022-12-31$-233,326
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$245,470
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-12-31$67,658
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 name2022-12-31AUDIT AND TAX SOLUTIONS, CPAS, INC.
Accountancy firm EIN2022-12-31943211753
2021 : QUALITY TELECOM CONSULTANTS, INC. 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$689,591
Total loss/gain on sale of assets2021-12-31$0
Total of all expenses incurred2021-12-31$170,497
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2021-12-31$118,770
Value of total corrective distributions2021-12-31$49,632
Total contributions o plan (from employers,participants, others, non cash contrinutions)2021-12-31$530,537
Value of total assets at end of year2021-12-31$1,413,963
Value of total assets at beginning of year2021-12-31$894,869
Total of administrative expenses incurred including professional, contract, advisory and management fees2021-12-31$2,095
Total interest from all sources2021-12-31$0
Total dividends received (eg from common stock, registered investment company shares)2021-12-31$27,183
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2021-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2021-12-31$27,183
Was this plan covered by a fidelity bond2021-12-31Yes
Value of fidelity bond cover2021-12-31$100,000
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$282,968
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$519,094
Value of net assets at end of year (total assets less liabilities)2021-12-31$1,413,963
Value of net assets at beginning of year (total assets less liabilities)2021-12-31$894,869
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$1,380,934
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2021-12-31$894,869
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2021-12-31$33,029
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2021-12-31$0
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2021-12-31$0
Net investment gain/loss from registered investment companies (e.g. mutual funds)2021-12-31$131,871
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$247,569
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2021-12-31$118,770
Contract administrator fees2021-12-31$2,095
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 name2021-12-31AUDIT AND TAX SOLUTIONS, CPAS, INC
Accountancy firm EIN2021-12-31943211753
2020 : QUALITY TELECOM CONSULTANTS, INC. 401(K) PLAN 2020 401k financial data
Total income from all sources2020-12-31$400,638
Expenses. Total of all expenses incurred2020-12-31$81,867
Benefits paid (including direct rollovers)2020-12-31$80,527
Total plan assets at end of year2020-12-31$894,869
Total plan assets at beginning of year2020-12-31$576,098
Value of fidelity bond covering the plan2020-12-31$100,000
Total contributions received or receivable from participants2020-12-31$178,978
Other income received2020-12-31$111,115
Net income (gross income less expenses)2020-12-31$318,771
Net plan assets at end of year (total assets less liabilities)2020-12-31$894,869
Net plan assets at beginning of year (total assets less liabilities)2020-12-31$576,098
Total contributions received or receivable from employer(s)2020-12-31$110,545
Expenses. Administrative service providers (salaries,fees and commissions)2020-12-31$1,340
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2020-12-31$0
2019 : QUALITY TELECOM CONSULTANTS, INC. 401(K) PLAN 2019 401k financial data
Total income from all sources2019-12-31$446,636
Expenses. Total of all expenses incurred2019-12-31$61,676
Benefits paid (including direct rollovers)2019-12-31$34,048
Total plan assets at end of year2019-12-31$576,098
Total plan assets at beginning of year2019-12-31$191,138
Value of fidelity bond covering the plan2019-12-31$100,000
Total contributions received or receivable from participants2019-12-31$226,258
Other income received2019-12-31$79,007
Net income (gross income less expenses)2019-12-31$384,960
Net plan assets at end of year (total assets less liabilities)2019-12-31$576,098
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$191,138
Total contributions received or receivable from employer(s)2019-12-31$141,371
Value of corrective distributions2019-12-31$26,453
Expenses. Administrative service providers (salaries,fees and commissions)2019-12-31$1,175
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2019-12-31$0
2018 : QUALITY TELECOM CONSULTANTS, INC. 401(K) PLAN 2018 401k financial data
Total income from all sources2018-12-31$112,183
Expenses. Total of all expenses incurred2018-12-31$22,759
Benefits paid (including direct rollovers)2018-12-31$22,634
Total plan assets at end of year2018-12-31$191,138
Total plan assets at beginning of year2018-12-31$101,714
Value of fidelity bond covering the plan2018-12-31$100,000
Total contributions received or receivable from participants2018-12-31$118,760
Contributions received from other sources (not participants or employers)2018-12-31$12,828
Other income received2018-12-31$-19,405
Net income (gross income less expenses)2018-12-31$89,424
Net plan assets at end of year (total assets less liabilities)2018-12-31$191,138
Net plan assets at beginning of year (total assets less liabilities)2018-12-31$101,714
Expenses. Administrative service providers (salaries,fees and commissions)2018-12-31$125
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2018-12-31$0
2017 : QUALITY TELECOM CONSULTANTS, INC. 401(K) PLAN 2017 401k financial data
Total income from all sources2017-12-31$95,569
Expenses. Total of all expenses incurred2017-12-31$1,564
Benefits paid (including direct rollovers)2017-12-31$1,514
Total plan assets at end of year2017-12-31$101,714
Total plan assets at beginning of year2017-12-31$7,709
Value of fidelity bond covering the plan2017-12-31$100,000
Total contributions received or receivable from participants2017-12-31$86,698
Other income received2017-12-31$8,871
Net income (gross income less expenses)2017-12-31$94,005
Net plan assets at end of year (total assets less liabilities)2017-12-31$101,714
Net plan assets at beginning of year (total assets less liabilities)2017-12-31$7,709
Expenses. Administrative service providers (salaries,fees and commissions)2017-12-31$50
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2017-12-31$0
2016 : QUALITY TELECOM CONSULTANTS, INC. 401(K) PLAN 2016 401k financial data
Total income from all sources2016-12-31$7,709
Expenses. Total of all expenses incurred2016-12-31$0
Total plan assets at end of year2016-12-31$7,709
Total plan assets at beginning of year2016-12-31$0
Value of fidelity bond covering the plan2016-12-31$100,000
Total contributions received or receivable from participants2016-12-31$7,759
Other income received2016-12-31$-50
Net income (gross income less expenses)2016-12-31$7,709
Net plan assets at end of year (total assets less liabilities)2016-12-31$7,709
Net plan assets at beginning of year (total assets less liabilities)2016-12-31$0

Form 5500 Responses for QUALITY TELECOM CONSULTANTS, INC. 401(K) PLAN

2022: QUALITY TELECOM CONSULTANTS, INC. 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 – TrustYes
2022-01-01Plan benefit arrangement - TrustYes
2021: QUALITY TELECOM CONSULTANTS, INC. 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 – TrustYes
2021-01-01Plan benefit arrangement - TrustYes
2020: QUALITY TELECOM CONSULTANTS, INC. 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 – TrustYes
2020-01-01Plan benefit arrangement - TrustYes
2019: QUALITY TELECOM CONSULTANTS, INC. 401(K) PLAN 2019 form 5500 responses
2019-01-01Type of plan entitySingle employer plan
2019-01-01Submission has been amendedNo
2019-01-01This submission is the final filingNo
2019-01-01This return/report is a short plan year return/report (less than 12 months)No
2019-01-01Plan is a collectively bargained planNo
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement - TrustYes
2018: QUALITY TELECOM CONSULTANTS, INC. 401(K) PLAN 2018 form 5500 responses
2018-01-01Type of plan entitySingle employer plan
2018-01-01Submission has been amendedNo
2018-01-01This submission is the final filingNo
2018-01-01This return/report is a short plan year return/report (less than 12 months)No
2018-01-01Plan is a collectively bargained planNo
2018-01-01Plan funding arrangement – TrustYes
2018-01-01Plan benefit arrangement - TrustYes
2017: QUALITY TELECOM CONSULTANTS, INC. 401(K) PLAN 2017 form 5500 responses
2017-01-01Type of plan entitySingle employer plan
2017-01-01Submission has been amendedNo
2017-01-01This submission is the final filingNo
2017-01-01This return/report is a short plan year return/report (less than 12 months)No
2017-01-01Plan is a collectively bargained planNo
2017-01-01Plan funding arrangement – TrustYes
2017-01-01Plan benefit arrangement - TrustYes
2016: QUALITY TELECOM CONSULTANTS, INC. 401(K) PLAN 2016 form 5500 responses
2016-01-01Type of plan entitySingle employer plan
2016-01-01First time form 5500 has been submittedYes
2016-01-01Submission has been amendedNo
2016-01-01This submission is the final filingNo
2016-01-01This return/report is a short plan year return/report (less than 12 months)No
2016-01-01Plan is a collectively bargained planNo
2016-01-01Plan funding arrangement – TrustYes
2016-01-01Plan benefit arrangement - TrustYes

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