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BANA ELECTRIC CORP. RETIREMENT SAVINGS PLAN 401k Plan overview

Plan NameBANA ELECTRIC CORP. RETIREMENT SAVINGS PLAN
Plan identification number 001

BANA ELECTRIC CORP. RETIREMENT SAVINGS 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.
  • 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.
  • Stock bonus
  • 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.
  • Leveraged ESOP - An ESOP that acquires employer securities with borrowed money or other debt-financing techniques. A completed Schedule E must be attached to a Form 5500 filed for an ESOP.
  • The employer maintaining this ESOP is an S Corporation
  • Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).
  • Plan requiring that all or part of employer contributions be invested and held, at least for a limited period, in employer securities.

401k Sponsoring company profile

SHARILYNN HOLDING CORP. has sponsored the creation of one or more 401k plans.

Company Name:SHARILYNN HOLDING CORP.
Employer identification number (EIN):111780541
NAIC Classification:238210
NAIC Description:Electrical Contractors and Other Wiring Installation Contractors

Additional information about SHARILYNN HOLDING CORP.

Jurisdiction of Incorporation: New York Department of State
Incorporation Date: 2020-03-26
Company Identification Number: 5732295
Legal Registered Office Address: 50 GAZZA BOULEVARD
Nassau
FARMINGDALE
United States of America (USA)
117351401

More information about SHARILYNN HOLDING CORP.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan BANA ELECTRIC CORP. RETIREMENT SAVINGS PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012024-01-01ROBERT GIORLANDO
0012023-01-01
0012023-01-01ROBERT GIORLANDO
0012022-01-01
0012022-01-01ROBERT GIORLANDO
0012021-01-01
0012021-01-01ROBERT GIORLANDO
0012020-01-01

Financial Data on BANA ELECTRIC CORP. RETIREMENT SAVINGS PLAN

Measure Date Value
2024 : BANA ELECTRIC CORP. RETIREMENT SAVINGS PLAN 2024 401k financial data
Transfers to/from the plan2024-01-01$0
Total plan liabilities at end of year2024-01-01$19,514
Total plan liabilities at beginning of year2024-01-01$20,197
Total income from all sources2024-01-01$321,281
Expenses. Total of all expenses incurred2024-01-01$19,962
Benefits paid (including direct rollovers)2024-01-01$3,204
Total plan assets at end of year2024-01-01$1,041,479
Total plan assets at beginning of year2024-01-01$740,843
Value of fidelity bond covering the plan2024-01-01$1,000,000
Total contributions received or receivable from participants2024-01-01$72,618
Expenses. Other expenses not covered elsewhere2024-01-01$234
Contributions received from other sources (not participants or employers)2024-01-01$0
Other income received2024-01-01$200,758
Noncash contributions received2024-01-01$0
Net income (gross income less expenses)2024-01-01$301,319
Net plan assets at end of year (total assets less liabilities)2024-01-01$1,021,965
Net plan assets at beginning of year (total assets less liabilities)2024-01-01$720,646
Assets. Value of participant loans2024-01-01$1,230
Value of loans by the plan or fixed income obligations due to the plan which were in default or classified as uncollectible at the close of the plan year2024-01-01$0
Value of leases to which the plan was a party in default or classified as uncollectible during the plan year2024-01-01$0
Value of participant contributions where there was a failure to transmit these to the plan within the time period described in 29 CFR 2510.3-1022024-01-01$0
Assets. Value of employer securities2024-01-01$196,448
Total contributions received or receivable from employer(s)2024-01-01$47,905
Value of certain deemed distributions of participant loans2024-01-01$0
Value of corrective distributions2024-01-01$0
Expenses. Administrative service providers (salaries,fees and commissions)2024-01-01$16,524
2023 : BANA ELECTRIC CORP. RETIREMENT SAVINGS PLAN 2023 401k financial data
Transfers to/from the plan2023-12-31$0
Total plan liabilities at end of year2023-12-31$20,197
Total plan liabilities at beginning of year2023-12-31$20,874
Total income from all sources2023-12-31$300,944
Expenses. Total of all expenses incurred2023-12-31$21,027
Benefits paid (including direct rollovers)2023-12-31$10,205
Total plan assets at end of year2023-12-31$740,842
Total plan assets at beginning of year2023-12-31$461,602
Value of fidelity bond covering the plan2023-12-31$1,000,000
Total contributions received or receivable from participants2023-12-31$79,938
Expenses. Other expenses not covered elsewhere2023-12-31$241
Contributions received from other sources (not participants or employers)2023-12-31$0
Other income received2023-12-31$166,218
Noncash contributions received2023-12-31$0
Net income (gross income less expenses)2023-12-31$279,917
Net plan assets at end of year (total assets less liabilities)2023-12-31$720,645
Net plan assets at beginning of year (total assets less liabilities)2023-12-31$440,728
Assets. Value of participant loans2023-12-31$1,450
Value of loans by the plan or fixed income obligations due to the plan which were in default or classified as uncollectible at the close of the plan year2023-12-31$0
Value of leases to which the plan was a party in default or classified as uncollectible during the plan year2023-12-31$0
Value of participant contributions where there was a failure to transmit these to the plan within the time period described in 29 CFR 2510.3-1022023-12-31$0
Assets. Value of employer securities2023-12-31$102,495
Total contributions received or receivable from employer(s)2023-12-31$54,788
Value of certain deemed distributions of participant loans2023-12-31$0
Value of corrective distributions2023-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2023-12-31$10,581
2022 : BANA ELECTRIC CORP. RETIREMENT SAVINGS PLAN 2022 401k financial data
Transfers to/from the plan2022-12-31$0
Total plan liabilities at end of year2022-12-31$20,874
Total plan liabilities at beginning of year2022-12-31$21,544
Total income from all sources2022-12-31$63,905
Expenses. Total of all expenses incurred2022-12-31$31,802
Benefits paid (including direct rollovers)2022-12-31$25,523
Total plan assets at end of year2022-12-31$461,602
Total plan assets at beginning of year2022-12-31$430,169
Value of fidelity bond covering the plan2022-12-31$1,000,000
Total contributions received or receivable from participants2022-12-31$64,464
Expenses. Other expenses not covered elsewhere2022-12-31$248
Contributions received from other sources (not participants or employers)2022-12-31$0
Other income received2022-12-31$-49,240
Noncash contributions received2022-12-31$0
Net income (gross income less expenses)2022-12-31$32,103
Net plan assets at end of year (total assets less liabilities)2022-12-31$440,728
Net plan assets at beginning of year (total assets less liabilities)2022-12-31$408,625
Assets. Value of participant loans2022-12-31$1,129
Value of loans by the plan or fixed income obligations due to the plan which were in default or classified as uncollectible at the close of the plan year2022-12-31$0
Value of leases to which the plan was a party in default or classified as uncollectible during the plan year2022-12-31$0
Value of participant contributions where there was a failure to transmit these to the plan within the time period described in 29 CFR 2510.3-1022022-12-31$0
Assets. Value of employer securities2022-12-31$34,165
Total contributions received or receivable from employer(s)2022-12-31$48,681
Value of certain deemed distributions of participant loans2022-12-31$0
Value of corrective distributions2022-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2022-12-31$6,031
2021 : BANA ELECTRIC CORP. RETIREMENT SAVINGS PLAN 2021 401k financial data
Transfers to/from the plan2021-12-31$0
Total plan liabilities at end of year2021-12-31$21,544
Total plan liabilities at beginning of year2021-12-31$22,207
Total income from all sources2021-12-31$173,911
Expenses. Total of all expenses incurred2021-12-31$9,056
Benefits paid (including direct rollovers)2021-12-31$6,447
Total plan assets at end of year2021-12-31$430,169
Total plan assets at beginning of year2021-12-31$265,977
Value of fidelity bond covering the plan2021-12-31$1,000,000
Total contributions received or receivable from participants2021-12-31$68,321
Expenses. Other expenses not covered elsewhere2021-12-31$269
Contributions received from other sources (not participants or employers)2021-12-31$0
Other income received2021-12-31$48,517
Noncash contributions received2021-12-31$0
Net income (gross income less expenses)2021-12-31$164,855
Net plan assets at end of year (total assets less liabilities)2021-12-31$408,625
Net plan assets at beginning of year (total assets less liabilities)2021-12-31$243,770
Value of loans by the plan or fixed income obligations due to the plan which were in default or classified as uncollectible at the close of the plan year2021-12-31$0
Value of leases to which the plan was a party in default or classified as uncollectible during the plan year2021-12-31$0
Value of participant contributions where there was a failure to transmit these to the plan within the time period described in 29 CFR 2510.3-1022021-12-31$0
Assets. Value of employer securities2021-12-31$85,412
Total contributions received or receivable from employer(s)2021-12-31$57,073
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$2,340
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2021-12-31$0
2020 : BANA ELECTRIC CORP. RETIREMENT SAVINGS PLAN 2020 401k financial data
Transfers to/from the plan2020-12-31$0
Total plan liabilities at end of year2020-12-31$22,207
Total plan liabilities at beginning of year2020-12-31$0
Total income from all sources2020-12-31$244,932
Expenses. Total of all expenses incurred2020-12-31$1,162
Benefits paid (including direct rollovers)2020-12-31$798
Total plan assets at end of year2020-12-31$265,977
Total plan assets at beginning of year2020-12-31$0
Value of fidelity bond covering the plan2020-12-31$1,000,000
Total contributions received or receivable from participants2020-12-31$42,184
Expenses. Other expenses not covered elsewhere2020-12-31$164
Contributions received from other sources (not participants or employers)2020-12-31$0
Other income received2020-12-31$82,091
Noncash contributions received2020-12-31$0
Net income (gross income less expenses)2020-12-31$243,770
Net plan assets at end of year (total assets less liabilities)2020-12-31$243,770
Net plan assets at beginning of year (total assets less liabilities)2020-12-31$0
Value of loans by the plan or fixed income obligations due to the plan which were in default or classified as uncollectible at the close of the plan year2020-12-31$0
Value of leases to which the plan was a party in default or classified as uncollectible during the plan year2020-12-31$0
Value of participant contributions where there was a failure to transmit these to the plan within the time period described in 29 CFR 2510.3-1022020-12-31$752
Assets. Value of employer securities2020-12-31$132,389
Total contributions received or receivable from employer(s)2020-12-31$120,657
Value of certain deemed distributions of participant loans2020-12-31$0
Value of corrective distributions2020-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2020-12-31$200
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2020-12-31$0

Form 5500 Responses for BANA ELECTRIC CORP. RETIREMENT SAVINGS PLAN

2023: BANA ELECTRIC CORP. RETIREMENT SAVINGS PLAN 2023 form 5500 responses
2023-01-01Type of plan entitySingle employer plan
2023-01-01This submission is the final filingNo
2023-01-01This return/report is a short plan year return/report (less than 12 months)No
2023-01-01Plan is a collectively bargained planNo
2023-01-01Plan funding arrangement – InsuranceYes
2023-01-01Plan funding arrangement – TrustYes
2023-01-01Plan benefit arrangement – InsuranceYes
2023-01-01Plan benefit arrangement - TrustYes
2022: BANA ELECTRIC CORP. RETIREMENT SAVINGS PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
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 – InsuranceYes
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement – InsuranceYes
2022-01-01Plan benefit arrangement - TrustYes
2021: BANA ELECTRIC CORP. RETIREMENT SAVINGS PLAN 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
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 – InsuranceYes
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement – InsuranceYes
2021-01-01Plan benefit arrangement - TrustYes
2020: BANA ELECTRIC CORP. RETIREMENT SAVINGS PLAN 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
2020-01-01First time form 5500 has been submittedYes
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 – InsuranceYes
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement – InsuranceYes
2020-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number724317
Policy instance 1
Insurance contract or identification number724317
Number of Individuals Covered12
Insurance policy start date2023-01-01
Insurance policy end date2023-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $0
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number724317
Policy instance 1
Insurance contract or identification number724317
Number of Individuals Covered14
Insurance policy start date2022-01-01
Insurance policy end date2022-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $0
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number724317
Policy instance 1
PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number724317
Policy instance 1

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