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FIRST CHOICE PRACTICE SOLUTIONS CORP. 401(K) PROFIT SHARINGPLAN 401k Plan overview

Plan NameFIRST CHOICE PRACTICE SOLUTIONS CORP. 401(K) PROFIT SHARINGPLAN
Plan identification number 001

FIRST CHOICE PRACTICE SOLUTIONS CORP. 401(K) PROFIT SHARINGPLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Profit-sharing
  • Partial participant-directed account plan - Participants have the opportunity to direct the investment of a portion of 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.
  • 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.

401k Sponsoring company profile

FIRST CHOICE PRACTICE SOLUTIONS CORP. has sponsored the creation of one or more 401k plans.

Company Name:FIRST CHOICE PRACTICE SOLUTIONS CORP.
Employer identification number (EIN):872614029
NAIC Classification:541219
NAIC Description:Other Accounting Services

Form 5500 Filing Information

Submission information for form 5500 for 401k plan FIRST CHOICE PRACTICE SOLUTIONS CORP. 401(K) PROFIT SHARINGPLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01
0012021-09-13

Plan Statistics for FIRST CHOICE PRACTICE SOLUTIONS CORP. 401(K) PROFIT SHARINGPLAN

401k plan membership statisitcs for FIRST CHOICE PRACTICE SOLUTIONS CORP. 401(K) PROFIT SHARINGPLAN

Measure Date Value
2022: FIRST CHOICE PRACTICE SOLUTIONS CORP. 401(K) PROFIT SHARINGPLAN 2022 401k membership
Total participants, beginning-of-year2022-01-011
Total number of active participants reported on line 7a of the Form 55002022-01-010
Number of retired or separated participants receiving benefits2022-01-010
Number of other retired or separated participants entitled to future benefits2022-01-010
Total of all active and inactive participants2022-01-010
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-010
Number of participants with account balances2022-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-010
2021: FIRST CHOICE PRACTICE SOLUTIONS CORP. 401(K) PROFIT SHARINGPLAN 2021 401k membership
Total participants, beginning-of-year2021-09-131
Total number of active participants reported on line 7a of the Form 55002021-09-131
Number of retired or separated participants receiving benefits2021-09-130
Number of other retired or separated participants entitled to future benefits2021-09-130
Total of all active and inactive participants2021-09-131
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-09-130
Total participants2021-09-131
Number of participants with account balances2021-09-131
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-09-130

Financial Data on FIRST CHOICE PRACTICE SOLUTIONS CORP. 401(K) PROFIT SHARINGPLAN

Measure Date Value
2022 : FIRST CHOICE PRACTICE SOLUTIONS CORP. 401(K) PROFIT SHARINGPLAN 2022 401k financial data
Total plan liabilities at end of year2022-12-07$0
Total plan liabilities at beginning of year2022-12-07$0
Total income from all sources2022-12-07$-38,442
Expenses. Total of all expenses incurred2022-12-07$11,533
Benefits paid (including direct rollovers)2022-12-07$11,533
Total plan assets at end of year2022-12-07$0
Total plan assets at beginning of year2022-12-07$49,975
Total contributions received or receivable from participants2022-12-07$0
Expenses. Other expenses not covered elsewhere2022-12-07$0
Contributions received from other sources (not participants or employers)2022-12-07$0
Other income received2022-12-07$-38,442
Noncash contributions received2022-12-07$0
Net income (gross income less expenses)2022-12-07$-49,975
Net plan assets at end of year (total assets less liabilities)2022-12-07$0
Net plan assets at beginning of year (total assets less liabilities)2022-12-07$49,975
Assets. Value of employer securities2022-12-07$0
Total contributions received or receivable from employer(s)2022-12-07$0
Value of certain deemed distributions of participant loans2022-12-07$0
Value of corrective distributions2022-12-07$0
Expenses. Administrative service providers (salaries,fees and commissions)2022-12-07$0
2021 : FIRST CHOICE PRACTICE SOLUTIONS CORP. 401(K) PROFIT SHARINGPLAN 2021 401k financial data
Total plan liabilities at end of year2021-12-31$0
Total plan liabilities at beginning of year2021-12-31$0
Total income from all sources2021-12-31$50,000
Expenses. Total of all expenses incurred2021-12-31$25
Benefits paid (including direct rollovers)2021-12-31$0
Total plan assets at end of year2021-12-31$49,975
Total plan assets at beginning of year2021-12-31$0
Total contributions received or receivable from participants2021-12-31$0
Expenses. Other expenses not covered elsewhere2021-12-31$25
Contributions received from other sources (not participants or employers)2021-12-31$50,000
Other income received2021-12-31$0
Noncash contributions received2021-12-31$0
Net income (gross income less expenses)2021-12-31$49,975
Net plan assets at end of year (total assets less liabilities)2021-12-31$49,975
Net plan assets at beginning of year (total assets less liabilities)2021-12-31$0
Assets. Value of employer securities2021-12-31$49,000
Total contributions received or receivable from employer(s)2021-12-31$0
Value of certain deemed distributions of participant loans2021-12-31$0
Value of corrective distributions2021-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2021-12-31$0

Form 5500 Responses for FIRST CHOICE PRACTICE SOLUTIONS CORP. 401(K) PROFIT SHARINGPLAN

2022: FIRST CHOICE PRACTICE SOLUTIONS CORP. 401(K) PROFIT SHARINGPLAN 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 filingYes
2022-01-01This return/report is a short plan year return/report (less than 12 months)Yes
2022-01-01Plan is a collectively bargained planNo
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement - TrustYes
2021: FIRST CHOICE PRACTICE SOLUTIONS CORP. 401(K) PROFIT SHARINGPLAN 2021 form 5500 responses
2021-09-13Type of plan entitySingle employer plan
2021-09-13First time form 5500 has been submittedYes
2021-09-13Submission has been amendedNo
2021-09-13This submission is the final filingNo
2021-09-13This return/report is a short plan year return/report (less than 12 months)Yes
2021-09-13Plan is a collectively bargained planNo
2021-09-13Plan funding arrangement – TrustYes
2021-09-13Plan benefit arrangement - TrustYes

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