401k Plan data: MICHAEL L. CANNING DEFINED BENEFIT PENSION PLAN plan

MICHAEL L. CANNING DEFINED BENEFIT PENSION PLAN 401k Plan overview

Plan Name	MICHAEL L. CANNING DEFINED BENEFIT PENSION PLAN
Plan identification number	004

MICHAEL L. CANNING DEFINED BENEFIT PENSION PLAN Benefits

401k Plan Type

Defined Benefit Pension

Plan Features/Benefits

Benefits are primarily pay related
Plan covered by PBGC that was terminated and closed out for PBGC purposes - Before the end of the plan year (or a prior plan year), (1) the plan terminated in a standard (or distress) termination and completed the distribution of plan assets in satisfaction of all benefit liabilities (or all ERISA Title IV benefits for distress termination); or (2) a trustee was appointed for a terminated plan pursuant to ERISA section 4042.
Frozen Plan - As of the last day of the plan year, the plan provides that no participant will get any new benefit accrual (whether because of service or compensation).
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

CANNING PROPERTIES, INC. has sponsored the creation of one or more 401k plans.

Company Name: CANNING PROPERTIES, INC.

Employer identification number (EIN): 853523469

NAIC Classification: 531310

Form 5500 Filing Information

Submission information for form 5500 for 401k plan MICHAEL L. CANNING DEFINED BENEFIT PENSION PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator Signed Name of Company Sponsor Date Sponsor Signed
004 2022-01-01 MICHAEL CANNING 2022-08-27 MICHAEL CANNING 2022-08-27
004 2021-01-01

Plan id#	Filing Submission Date	Name of Administrator	Date Administrator Signed	Name of Company Sponsor	Date Sponsor Signed
004	2022-01-01	MICHAEL CANNING	2022-08-27	MICHAEL CANNING	2022-08-27
004	2021-01-01

Plan Statistics for MICHAEL L. CANNING DEFINED BENEFIT PENSION PLAN

401k plan membership statisitcs for MICHAEL L. CANNING DEFINED BENEFIT PENSION PLAN

Measure Date Value
2022: MICHAEL L. CANNING DEFINED BENEFIT PENSION PLAN 2022 401k membership
Market value of plan assets 2022-07-31 1,923,835
Acturial value of plan assets 2022-07-31 1,923,835
Funding target for retired participants and beneficiaries receiving payment 2022-07-31 0
Number of terminated vested participants 2022-07-31 0
Fundng target for terminated vested participants 2022-07-31 0
Active participant vested funding target 2022-07-31 1,515,330
Number of active participants 2022-07-31 2
Total funding liabilities for active participants 2022-07-31 1,515,330
Total participant count 2022-07-31 2
Total funding target for all participants 2022-07-31 1,515,330
Balance at beginning of prior year after applicable adjustments 2022-07-31 0
Prefunding balance at beginning of prior year after applicable adjustments 2022-07-31 0
Carryover balanced portion elected for use to offset prior years funding requirement 2022-07-31 0
Prefunding balanced used to offset prior years funding requirement 2022-07-31 0
Amount remaining of carryover balance 2022-07-31 0
Amount remaining of prefunding balance 2022-07-31 0
Present value of excess contributions 2022-07-31 172,829
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance 2022-07-31 181,436
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance 2022-07-31 0
Reductions in caryover balances due to elections or deemed elections 2022-07-31 0
Reductions in prefunding balances due to elections or deemed elections 2022-07-31 0
Balance of carryovers at beginning of current year 2022-07-31 0
Balance of prefunding at beginning of current year 2022-07-31 0
Contributions allocated toward unpaid minimum require contributions from prior years 2022-07-31 0
Contributions made to avoid restrictions adjusted to valuation date 2022-07-31 0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date 2022-07-31 0
Unpaid minimum required contributions for all prior years 2022-07-31 0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years 2022-07-31 0
Remaining amount of unpaid minimum required contributions 2022-07-31 0
Minimum required contributions for current year target normal cost 2022-07-31 0
Net shortfall amortization installment of oustanding balance 2022-07-31 0
Waiver amortization installment 2022-07-31 0
Total funding amount beforereflecting carryover/prefunding balances 2022-07-31 0
Carryover balance elected to use to offset funding requirement 2022-07-31 0
Prefunding balance elected to use to offset funding requirement 2022-07-31 0
Additional cash requirement 2022-07-31 0
Contributions allocatedtoward minimum required contributions for current year 2022-07-31 0
Unpaid minimum required contributions for current year 2022-07-31 0
Unpaid minimum required contributions for all years 2022-07-31 0
2021: MICHAEL L. CANNING DEFINED BENEFIT PENSION PLAN 2021 401k membership
Market value of plan assets 2021-12-31 3,252,529
Acturial value of plan assets 2021-12-31 3,252,529
Funding target for retired participants and beneficiaries receiving payment 2021-12-31 0
Number of terminated vested participants 2021-12-31 1
Fundng target for terminated vested participants 2021-12-31 164
Active participant vested funding target 2021-12-31 2,434,015
Number of active participants 2021-12-31 3
Total funding liabilities for active participants 2021-12-31 2,434,015
Total participant count 2021-12-31 4
Total funding target for all participants 2021-12-31 2,434,179
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 2021-12-31 334,242
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance 2021-12-31 350,887
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 2021-12-31 185,168
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 2021-12-31 172,829
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 2021-12-31 168,906
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 0
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 0
Contributions allocatedtoward minimum required contributions for current year 2021-12-31 172,829
Unpaid minimum required contributions for current year 2021-12-31 0
Unpaid minimum required contributions for all years 2021-12-31 0
Total participants, beginning-of-year 2021-01-01 4
Total number of active participants reported on line 7a of the Form 5500 2021-01-01 2
Number of retired or separated participants receiving benefits 2021-01-01 0
Number of other retired or separated participants entitled to future benefits 2021-01-01 0
Total of all active and inactive participants 2021-01-01 2
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2021-01-01 0
Total participants 2021-01-01 2
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2021-01-01 0

Measure	Date	Value
2022: MICHAEL L. CANNING DEFINED BENEFIT PENSION PLAN 2022 401k membership
Market value of plan assets	2022-07-31	1,923,835
Acturial value of plan assets	2022-07-31	1,923,835
Funding target for retired participants and beneficiaries receiving payment	2022-07-31	0
Number of terminated vested participants	2022-07-31	0
Fundng target for terminated vested participants	2022-07-31	0
Active participant vested funding target	2022-07-31	1,515,330
Number of active participants	2022-07-31	2
Total funding liabilities for active participants	2022-07-31	1,515,330
Total participant count	2022-07-31	2
Total funding target for all participants	2022-07-31	1,515,330
Balance at beginning of prior year after applicable adjustments	2022-07-31	0
Prefunding balance at beginning of prior year after applicable adjustments	2022-07-31	0
Carryover balanced portion elected for use to offset prior years funding requirement	2022-07-31	0
Prefunding balanced used to offset prior years funding requirement	2022-07-31	0
Amount remaining of carryover balance	2022-07-31	0
Amount remaining of prefunding balance	2022-07-31	0
Present value of excess contributions	2022-07-31	172,829
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2022-07-31	181,436
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance	2022-07-31	0
Reductions in caryover balances due to elections or deemed elections	2022-07-31	0
Reductions in prefunding balances due to elections or deemed elections	2022-07-31	0
Balance of carryovers at beginning of current year	2022-07-31	0
Balance of prefunding at beginning of current year	2022-07-31	0
Contributions allocated toward unpaid minimum require contributions from prior years	2022-07-31	0
Contributions made to avoid restrictions adjusted to valuation date	2022-07-31	0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date	2022-07-31	0
Unpaid minimum required contributions for all prior years	2022-07-31	0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years	2022-07-31	0
Remaining amount of unpaid minimum required contributions	2022-07-31	0
Minimum required contributions for current year target normal cost	2022-07-31	0
Net shortfall amortization installment of oustanding balance	2022-07-31	0
Waiver amortization installment	2022-07-31	0
Total funding amount beforereflecting carryover/prefunding balances	2022-07-31	0
Carryover balance elected to use to offset funding requirement	2022-07-31	0
Prefunding balance elected to use to offset funding requirement	2022-07-31	0
Additional cash requirement	2022-07-31	0
Contributions allocatedtoward minimum required contributions for current year	2022-07-31	0
Unpaid minimum required contributions for current year	2022-07-31	0
Unpaid minimum required contributions for all years	2022-07-31	0
2021: MICHAEL L. CANNING DEFINED BENEFIT PENSION PLAN 2021 401k membership
Market value of plan assets	2021-12-31	3,252,529
Acturial value of plan assets	2021-12-31	3,252,529
Funding target for retired participants and beneficiaries receiving payment	2021-12-31	0
Number of terminated vested participants	2021-12-31	1
Fundng target for terminated vested participants	2021-12-31	164
Active participant vested funding target	2021-12-31	2,434,015
Number of active participants	2021-12-31	3
Total funding liabilities for active participants	2021-12-31	2,434,015
Total participant count	2021-12-31	4
Total funding target for all participants	2021-12-31	2,434,179
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	334,242
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2021-12-31	350,887
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	185,168
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	172,829
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	168,906
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	0
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	0
Contributions allocatedtoward minimum required contributions for current year	2021-12-31	172,829
Unpaid minimum required contributions for current year	2021-12-31	0
Unpaid minimum required contributions for all years	2021-12-31	0
Total participants, beginning-of-year	2021-01-01	4
Total number of active participants reported on line 7a of the Form 5500	2021-01-01	2
Number of retired or separated participants receiving benefits	2021-01-01	0
Number of other retired or separated participants entitled to future benefits	2021-01-01	0
Total of all active and inactive participants	2021-01-01	2
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2021-01-01	0
Total participants	2021-01-01	2
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2021-01-01	0

Financial Data on MICHAEL L. CANNING DEFINED BENEFIT PENSION PLAN

Measure	Date	Value
2021 : MICHAEL L. CANNING DEFINED BENEFIT PENSION PLAN 2021 401k financial data
Transfers to/from the plan	2021-12-31	$0
Total plan liabilities at end of year	2021-12-31	$24,373
Total plan liabilities at beginning of year	2021-12-31	$700
Total income from all sources	2021-12-31	$226,331
Expenses. Total of all expenses incurred	2021-12-31	$1,569,517
Benefits paid (including direct rollovers)	2021-12-31	$1,568,276
Total plan assets at end of year	2021-12-31	$1,952,010
Total plan assets at beginning of year	2021-12-31	$3,271,523
Value of fidelity bond covering the plan	2021-12-31	$200,000
Total contributions received or receivable from participants	2021-12-31	$0
Expenses. Other expenses not covered elsewhere	2021-12-31	$1,231
Contributions received from other sources (not participants or employers)	2021-12-31	$0
Other income received	2021-12-31	$47,342
Noncash contributions received	2021-12-31	$0
Net income (gross income less expenses)	2021-12-31	$-1,343,186
Net plan assets at end of year (total assets less liabilities)	2021-12-31	$1,927,637
Net plan assets at beginning of year (total assets less liabilities)	2021-12-31	$3,270,823
Assets. Value of real-estate (other than employer real property)	2021-12-31	$0
Total contributions received or receivable from employer(s)	2021-12-31	$178,989
Value of certain deemed distributions of participant loans	2021-12-31	$0
Value of corrective distributions	2021-12-31	$0
Expenses. Administrative service providers (salaries,fees and commissions)	2021-12-31	$10
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2021-12-31	$250,000

Form 5500 Responses for MICHAEL L. CANNING DEFINED BENEFIT PENSION PLAN

2021: MICHAEL L. CANNING DEFINED BENEFIT PENSION PLAN 2021 form 5500 responses
2021-01-01	Type of plan entity	Single employer plan
2021-01-01	Submission has been amended	No
2021-01-01	This submission is the final filing	No
2021-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2021-01-01	Plan is a collectively bargained plan	No
2021-01-01	Plan funding arrangement – Trust	Yes
2021-01-01	Plan benefit arrangement - Trust	Yes

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Company Name:	CANNING PROPERTIES, INC.
Employer identification number (EIN):	853523469
NAIC Classification:	531310