AMERICAN FINANCIAL ADVISORS, INC DB PLAN 401k Plan overview

AMERICAN FINANCIAL ADVISORS, INC DB PLAN Benefits

401k Sponsoring company profile

Company Name:	AMERICAN FINANCIAL ADVISORS,INC.
Employer identification number (EIN):	141725316
NAIC Classification:	525100
NAIC Description:	Insurance and Employee Benefit Funds

Form 5500 Filing Information

Plan id#	Filing Submission Date	Name of Administrator	Date Administrator Signed	Name of Company Sponsor	Date Sponsor Signed
002	2023-01-01	MATTHEW BOYCE	2024-06-13
002	2022-01-01	MATTHEW BOYCE	2023-05-22
002	2021-01-01	MATTHEW BOYCE	2022-05-26
002	2020-01-01	MATTHEW BOYCE	2021-05-13

Plan Statistics for AMERICAN FINANCIAL ADVISORS, INC DB PLAN

Measure	Date	Value
2022: AMERICAN FINANCIAL ADVISORS, INC DB PLAN 2022 401k membership
Market value of plan assets	2022-12-31	330,200
Acturial value of plan assets	2022-12-31	330,200
Funding target for retired participants and beneficiaries receiving payment	2022-12-31	0
Number of terminated vested participants	2022-12-31	0
Fundng target for terminated vested participants	2022-12-31	0
Active participant vested funding target	2022-12-31	405,120
Number of active participants	2022-12-31	3
Total funding liabilities for active participants	2022-12-31	405,120
Total participant count	2022-12-31	3
Total funding target for all participants	2022-12-31	405,120
Balance at beginning of prior year after applicable adjustments	2022-12-31	0
Prefunding balance at beginning of prior year after applicable adjustments	2022-12-31	0
Carryover balanced portion elected for use to offset prior years funding requirement	2022-12-31	0
Prefunding balanced used to offset prior years funding requirement	2022-12-31	0
Amount remaining of carryover balance	2022-12-31	0
Amount remaining of prefunding balance	2022-12-31	0
Present value of excess contributions	2022-12-31	113,734
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2022-12-31	119,876
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance	2022-12-31	0
Reductions in caryover balances due to elections or deemed elections	2022-12-31	0
Reductions in prefunding balances due to elections or deemed elections	2022-12-31	0
Balance of carryovers at beginning of current year	2022-12-31	0
Balance of prefunding at beginning of current year	2022-12-31	0
Total employer contributions	2022-12-31	367,500
Total employee contributions	2022-12-31	0
Contributions allocated toward unpaid minimum require contributions from prior years	2022-12-31	0
Contributions made to avoid restrictions adjusted to valuation date	2022-12-31	0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date	2022-12-31	348,529
Unpaid minimum required contributions for all prior years	2022-12-31	0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years	2022-12-31	0
Remaining amount of unpaid minimum required contributions	2022-12-31	0
Minimum required contributions for current year target normal cost	2022-12-31	221,963
Net shortfall amortization installment of oustanding balance	2022-12-31	74,920
Waiver amortization installment	2022-12-31	0
Total funding amount beforereflecting carryover/prefunding balances	2022-12-31	228,886
Carryover balance elected to use to offset funding requirement	2022-12-31	0
Prefunding balance elected to use to offset funding requirement	2022-12-31	0
Additional cash requirement	2022-12-31	228,886
Contributions allocatedtoward minimum required contributions for current year	2022-12-31	348,529
Unpaid minimum required contributions for current year	2022-12-31	0
Unpaid minimum required contributions for all years	2022-12-31	0
2021: AMERICAN FINANCIAL ADVISORS, INC DB PLAN 2021 401k membership
Market value of plan assets	2021-12-31	110,783
Acturial value of plan assets	2021-12-31	110,783
Funding target for retired participants and beneficiaries receiving payment	2021-12-31	0
Number of terminated vested participants	2021-12-31	0
Fundng target for terminated vested participants	2021-12-31	0
Active participant vested funding target	2021-12-31	96,055
Number of active participants	2021-12-31	3
Total funding liabilities for active participants	2021-12-31	96,055
Total participant count	2021-12-31	3
Total funding target for all participants	2021-12-31	96,055
Balance at beginning of prior year after applicable adjustments	2021-12-31	0
Prefunding balance at beginning of prior year after applicable adjustments	2021-12-31	0
Carryover balanced portion elected for use to offset prior years funding requirement	2021-12-31	0
Prefunding balanced used to offset prior years funding requirement	2021-12-31	0
Amount remaining of carryover balance	2021-12-31	0
Amount remaining of prefunding balance	2021-12-31	0
Present value of excess contributions	2021-12-31	12,544
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2021-12-31	13,201
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance	2021-12-31	0
Reductions in caryover balances due to elections or deemed elections	2021-12-31	0
Reductions in prefunding balances due to elections or deemed elections	2021-12-31	0
Balance of carryovers at beginning of current year	2021-12-31	0
Balance of prefunding at beginning of current year	2021-12-31	0
Total employer contributions	2021-12-31	210,000
Total employee contributions	2021-12-31	0
Contributions allocated toward unpaid minimum require contributions from prior years	2021-12-31	0
Contributions made to avoid restrictions adjusted to valuation date	2021-12-31	0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date	2021-12-31	198,805
Unpaid minimum required contributions for all prior years	2021-12-31	0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years	2021-12-31	0
Remaining amount of unpaid minimum required contributions	2021-12-31	0
Minimum required contributions for current year target normal cost	2021-12-31	99,799
Net shortfall amortization installment of oustanding balance	2021-12-31	0
Waiver amortization installment	2021-12-31	0
Total funding amount beforereflecting carryover/prefunding balances	2021-12-31	85,071
Carryover balance elected to use to offset funding requirement	2021-12-31	0
Prefunding balance elected to use to offset funding requirement	2021-12-31	0
Additional cash requirement	2021-12-31	85,071
Contributions allocatedtoward minimum required contributions for current year	2021-12-31	198,805
Unpaid minimum required contributions for current year	2021-12-31	0
Unpaid minimum required contributions for all years	2021-12-31	0
2020: AMERICAN FINANCIAL ADVISORS, INC DB PLAN 2020 401k membership
Market value of plan assets	2020-12-31	0
Acturial value of plan assets	2020-12-31	0
Funding target for retired participants and beneficiaries receiving payment	2020-12-31	0
Number of terminated vested participants	2020-12-31	0
Fundng target for terminated vested participants	2020-12-31	0
Active participant vested funding target	2020-12-31	0
Number of active participants	2020-12-31	3
Total funding liabilities for active participants	2020-12-31	0
Total participant count	2020-12-31	3
Total funding target for all participants	2020-12-31	0
Balance at beginning of prior year after applicable adjustments	2020-12-31	0
Prefunding balance at beginning of prior year after applicable adjustments	2020-12-31	0
Carryover balanced portion elected for use to offset prior years funding requirement	2020-12-31	0
Prefunding balanced used to offset prior years funding requirement	2020-12-31	0
Amount remaining of carryover balance	2020-12-31	0
Amount remaining of prefunding balance	2020-12-31	0
Present value of excess contributions	2020-12-31	0
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2020-12-31	0
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance	2020-12-31	0
Reductions in caryover balances due to elections or deemed elections	2020-12-31	0
Reductions in prefunding balances due to elections or deemed elections	2020-12-31	0
Balance of carryovers at beginning of current year	2020-12-31	0
Balance of prefunding at beginning of current year	2020-12-31	0
Total employer contributions	2020-12-31	111,000
Total employee contributions	2020-12-31	0
Contributions allocated toward unpaid minimum require contributions from prior years	2020-12-31	0
Contributions made to avoid restrictions adjusted to valuation date	2020-12-31	0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date	2020-12-31	105,249
Unpaid minimum required contributions for all prior years	2020-12-31	0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years	2020-12-31	0
Remaining amount of unpaid minimum required contributions	2020-12-31	0
Minimum required contributions for current year target normal cost	2020-12-31	92,705
Net shortfall amortization installment of oustanding balance	2020-12-31	0
Waiver amortization installment	2020-12-31	0
Total funding amount beforereflecting carryover/prefunding balances	2020-12-31	92,705
Carryover balance elected to use to offset funding requirement	2020-12-31	0
Prefunding balance elected to use to offset funding requirement	2020-12-31	0
Additional cash requirement	2020-12-31	92,705
Contributions allocatedtoward minimum required contributions for current year	2020-12-31	105,249
Unpaid minimum required contributions for current year	2020-12-31	0
Unpaid minimum required contributions for all years	2020-12-31	0

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