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NORTHERN HEART SPECIALIST PC 401(K) PROFIT SHARING PLAN & TRUST 401k Plan overview

Plan NameNORTHERN HEART SPECIALIST PC 401(K) PROFIT SHARING PLAN & TRUST
Plan identification number 001

NORTHERN HEART SPECIALIST PC 401(K) PROFIT SHARING PLAN & TRUST Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Age/Service Weighted or new comparability or similar plan - Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New comparability or similar plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the theshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of section 401(l).
  • 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.
  • Participant-directed brokerage accounts provided as an investment option under the plan.
  • 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

NORTHERN HEART SPECIALISTS PC has sponsored the creation of one or more 401k plans.

Company Name:NORTHERN HEART SPECIALISTS PC
Employer identification number (EIN):133529663
NAIC Classification:621111
NAIC Description:Offices of Physicians (except Mental Health Specialists)

Form 5500 Filing Information

Submission information for form 5500 for 401k plan NORTHERN HEART SPECIALIST PC 401(K) PROFIT SHARING PLAN & TRUST

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012015-01-01ANIL SINGHANI
0012014-01-01ANIL SINGHANI
0012013-01-01MADDIPOTI CHOUDRY2014-03-05
0012012-01-01MADDIPOTI CHOUDRY2013-06-10
0012011-01-01MADDIPOTI CHOUDRY2012-02-13
0012010-01-01MADDIPOTI CHOUDRY2011-06-13

Plan Statistics for NORTHERN HEART SPECIALIST PC 401(K) PROFIT SHARING PLAN & TRUST

401k plan membership statisitcs for NORTHERN HEART SPECIALIST PC 401(K) PROFIT SHARING PLAN & TRUST

Measure Date Value
2015: NORTHERN HEART SPECIALIST PC 401(K) PROFIT SHARING PLAN & TRUST 2015 401k membership
Total participants, beginning-of-year2015-01-01275
Total number of active participants reported on line 7a of the Form 55002015-01-01235
Number of retired or separated participants receiving benefits2015-01-010
Number of other retired or separated participants entitled to future benefits2015-01-0171
Total of all active and inactive participants2015-01-01306
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2015-01-010
Total participants2015-01-01306
Number of participants with account balances2015-01-01215
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2015-01-015
2014: NORTHERN HEART SPECIALIST PC 401(K) PROFIT SHARING PLAN & TRUST 2014 401k membership
Total participants, beginning-of-year2014-01-01256
Total number of active participants reported on line 7a of the Form 55002014-01-01230
Number of retired or separated participants receiving benefits2014-01-010
Number of other retired or separated participants entitled to future benefits2014-01-0117
Total of all active and inactive participants2014-01-01247
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2014-01-010
Total participants2014-01-01247
Number of participants with account balances2014-01-01118
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2014-01-014

Financial Data on NORTHERN HEART SPECIALIST PC 401(K) PROFIT SHARING PLAN & TRUST

Measure Date Value
2015 : NORTHERN HEART SPECIALIST PC 401(K) PROFIT SHARING PLAN & TRUST 2015 401k financial data
Total unrealized appreciation/depreciation of assets2015-12-31$0
Total transfer of assets to this plan2015-12-31$4,828,913
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2015-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2015-12-31$7,982
Total income from all sources (including contributions)2015-12-31$1,129,790
Total loss/gain on sale of assets2015-12-31$0
Total of all expenses incurred2015-12-31$129,337
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2015-12-31$92,013
Expenses. Certain deemed distributions of participant loans2015-12-31$0
Value of total corrective distributions2015-12-31$0
Total contributions o plan (from employers,participants, others, non cash contrinutions)2015-12-31$1,314,955
Value of total assets at end of year2015-12-31$14,158,148
Value of total assets at beginning of year2015-12-31$8,336,764
Total of administrative expenses incurred including professional, contract, advisory and management fees2015-12-31$37,324
Total interest from all sources2015-12-31$5,211
Total dividends received (eg from common stock, registered investment company shares)2015-12-31$346,530
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2015-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2015-12-31$346,530
Was this plan covered by a fidelity bond2015-12-31No
If this is an individual account plan, was there a blackout period2015-12-31No
Were there any nonexempt tranactions with any party-in-interest2015-12-31No
Contributions received from participants2015-12-31$951,549
Participant contributions at end of year2015-12-31$139,692
Participant contributions at beginning of year2015-12-31$86,561
Participant contributions at end of year2015-12-31$0
Assets. Other investments not covered elsewhere at end of year2015-12-31$0
Income. Received or receivable in cash from other sources (including rollovers)2015-12-31$6,916
Value of other receiveables (less allowance for doubtful accounts) at end of year2015-12-31$0
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2015-12-31$7,982
Other income not declared elsewhere2015-12-31$7,982
Administrative expenses (other) incurred2015-12-31$928
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2015-12-31No
Value of net income/loss2015-12-31$1,000,453
Value of net assets at end of year (total assets less liabilities)2015-12-31$14,158,148
Value of net assets at beginning of year (total assets less liabilities)2015-12-31$8,328,782
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2015-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2015-12-31No
Were any leases to which the plan was party in default or uncollectible2015-12-31No
Investment advisory and management fees2015-12-31$36,396
Value of interest in registered invesment companies (eg mutual funds) at end of year2015-12-31$13,822,280
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2015-12-31$7,968,518
Interest on participant loans2015-12-31$5,210
Value of interest in master investment trust accounts at end of year2015-12-31$0
Value of interest in common/collective trusts at end of year2015-12-31$0
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2015-12-31$196,176
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2015-12-31$281,685
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2015-12-31$281,685
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2015-12-31$1
Assets. Value of investments in 103.12 investment entities at end of year2015-12-31$0
Net investment gain/loss from registered investment companies (e.g. mutual funds)2015-12-31$-544,888
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2015-12-31No
Was there a failure to transmit to the plan any participant contributions2015-12-31No
Has the plan failed to provide any benefit when due under the plan2015-12-31No
Contributions received in cash from employer2015-12-31$356,490
Employer contributions (assets) at end of year2015-12-31$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2015-12-31$92,013
Contract administrator fees2015-12-31$0
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32015-12-31No
Did the plan have assets held for investment2015-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2015-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2015-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2015-12-31Yes
Opinion of an independent qualified public accountant for this plan2015-12-31Disclaimer
Accountancy firm name2015-12-31K.K. MEHTA CPA ASSOCIATES
Accountancy firm EIN2015-12-31273121426
2014 : NORTHERN HEART SPECIALIST PC 401(K) PROFIT SHARING PLAN & TRUST 2014 401k financial data
Total unrealized appreciation/depreciation of assets2014-12-31$0
Total transfer of assets to this plan2014-12-31$4,267,888
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2014-12-31$7,982
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2014-12-31$7,982
Total income from all sources (including contributions)2014-12-31$1,333,250
Total loss/gain on sale of assets2014-12-31$0
Total of all expenses incurred2014-12-31$1,363,375
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2014-12-31$1,353,019
Total contributions o plan (from employers,participants, others, non cash contrinutions)2014-12-31$886,163
Value of total assets at end of year2014-12-31$8,336,764
Value of total assets at beginning of year2014-12-31$4,099,001
Total of administrative expenses incurred including professional, contract, advisory and management fees2014-12-31$10,356
Total interest from all sources2014-12-31$1,870
Total dividends received (eg from common stock, registered investment company shares)2014-12-31$243,478
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2014-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2014-12-31$243,478
Assets. Real estate other than employer real property at beginning of year2014-12-31$0
Assets. Corporate prefeered stocks other than exployer securities at beginning of year2014-12-31$0
Was this plan covered by a fidelity bond2014-12-31Yes
Value of fidelity bond cover2014-12-31$10,000
If this is an individual account plan, was there a blackout period2014-12-31Yes
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2014-12-31$0
Funding deficiency by the employer to the plan for this plan year2014-12-31$0
Minimum employer required contribution for this plan year2014-12-31$0
Amount contributed by the employer to the plan for this plan year2014-12-31$0
Were there any nonexempt tranactions with any party-in-interest2014-12-31No
Contributions received from participants2014-12-31$555,742
Participant contributions at end of year2014-12-31$86,561
Participant contributions at beginning of year2014-12-31$0
Participant contributions at beginning of year2014-12-31$0
Assets. Other investments not covered elsewhere at beginning of year2014-12-31$0
Income. Received or receivable in cash from other sources (including rollovers)2014-12-31$330,421
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2014-12-31$0
Assets. Loans (other than to participants) at beginning of year2014-12-31$0
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year2014-12-31$7,982
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2014-12-31$7,982
Administrative expenses (other) incurred2014-12-31$528
Liabilities. Value of operating payables at beginning of year2014-12-31$0
Total non interest bearing cash at beginning of year2014-12-31$0
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2014-12-31No
Value of net income/loss2014-12-31$-30,125
Value of net assets at end of year (total assets less liabilities)2014-12-31$8,328,782
Value of net assets at beginning of year (total assets less liabilities)2014-12-31$4,091,019
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2014-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2014-12-31No
Were any leases to which the plan was party in default or uncollectible2014-12-31No
Assets. partnership/joint venture interests at beginning of year2014-12-31$0
Investment advisory and management fees2014-12-31$4,727
Value of interest in registered invesment companies (eg mutual funds) at end of year2014-12-31$7,968,518
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2014-12-31$4,099,001
Interest on participant loans2014-12-31$1,870
Value of interest in master investment trust accounts at beginning of year2014-12-31$0
Value of interest in common/collective trusts at beginning of year2014-12-31$0
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2014-12-31$281,685
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2014-12-31$0
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2014-12-31$0
Assets. Value of investments in 103.12 investment entities at beginning of year2014-12-31$0
Asset value of US Government securities at beginning of year2014-12-31$0
Net investment gain/loss from registered investment companies (e.g. mutual funds)2014-12-31$201,739
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2014-12-31No
Was there a failure to transmit to the plan any participant contributions2014-12-31No
Has the plan failed to provide any benefit when due under the plan2014-12-31No
Assets. Invements in employer securities at beginning of year2014-12-31$0
Assets. Value of employer real property at beginning of year2014-12-31$0
Employer contributions (assets) at beginning of year2014-12-31$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2014-12-31$1,353,019
Asset. Corporate debt instrument preferred debt at beginning of year2014-12-31$0
Asset. Corporate debt instrument debt (other) at beginning of year2014-12-31$0
Contract administrator fees2014-12-31$5,101
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32014-12-31Yes
Assets. Corporate common stocks other than exployer securities at beginning of year2014-12-31$0
Liabilities. Value of benefit claims payable at beginning of year2014-12-31$0
Assets. Value of buildings and other operty used in plan operation at beginning of year2014-12-31$0
Did the plan have assets held for investment2014-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2014-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2014-12-31No
Liabilities. Value of acquisition indebtedness at beginning of year2014-12-31$0
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2014-12-31Yes
Opinion of an independent qualified public accountant for this plan2014-12-31Disclaimer
Accountancy firm name2014-12-31K.K. MEHTA CPA ASSOCIATES PLLC
Accountancy firm EIN2014-12-31273121426

Form 5500 Responses for NORTHERN HEART SPECIALIST PC 401(K) PROFIT SHARING PLAN & TRUST

2015: NORTHERN HEART SPECIALIST PC 401(K) PROFIT SHARING PLAN & TRUST 2015 form 5500 responses
2015-01-01Type of plan entitySingle employer plan
2015-01-01Submission has been amendedNo
2015-01-01This submission is the final filingNo
2015-01-01This return/report is a short plan year return/report (less than 12 months)No
2015-01-01Plan is a collectively bargained planNo
2015-01-01Plan funding arrangement – TrustYes
2015-01-01Plan benefit arrangement - TrustYes
2014: NORTHERN HEART SPECIALIST PC 401(K) PROFIT SHARING PLAN & TRUST 2014 form 5500 responses
2014-01-01Type of plan entitySingle employer plan
2014-01-01Submission has been amendedNo
2014-01-01This submission is the final filingNo
2014-01-01This return/report is a short plan year return/report (less than 12 months)No
2014-01-01Plan is a collectively bargained planNo
2014-01-01Plan funding arrangement – TrustYes
2014-01-01Plan benefit arrangement - TrustYes

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