401k Plan data: HANDI QUILTER, INC. 401(K) PROFIT SHARING PLAN plan

HANDI QUILTER, INC. 401(K) PROFIT SHARING PLAN 401k Plan overview

Plan Name	HANDI QUILTER, INC. 401(K) PROFIT SHARING PLAN
Plan identification number	001

HANDI QUILTER, INC. 401(K) PROFIT SHARING PLAN Benefits

401k Plan Type

Defined 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.
Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
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.

401k Sponsoring company profile

HANDI QUILTER, INC. has sponsored the creation of one or more 401k plans.

Company Name: HANDI QUILTER, INC.

Employer identification number (EIN): 263861600

NAIC Classification: 454110
NAIC Description: Electronic Shopping and Mail-Order Houses

Form 5500 Filing Information

Submission information for form 5500 for 401k plan HANDI QUILTER, INC. 401(K) PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator Signed Name of Company Sponsor Date Sponsor Signed
001 2023-01-01
001 2022-09-01
001 2022-09-01
001 2018-01-01 SHELLY WITHERS 2019-09-03
001 2017-01-01 SHELLY WITHERS 2018-08-03
001 2016-01-01 SHELLY WITHERS 2017-07-31
001 2015-01-01 SHELLY WITHERS 2016-09-30
001 2014-01-01 SHELLEY WITHERS 2015-07-01
001 2013-01-01 SHELLEY WITHERS 2014-10-14
001 2012-01-01 SHELLEY WITHERS 2013-08-23
001 2010-01-01 SHELLY WITHERS 2011-10-14

Plan id#	Filing Submission Date	Name of Administrator	Date Administrator Signed
001	2023-01-01
001	2022-09-01
001	2022-09-01
001	2018-01-01	SHELLY WITHERS	2019-09-03
001	2017-01-01	SHELLY WITHERS	2018-08-03
001	2016-01-01	SHELLY WITHERS	2017-07-31
001	2015-01-01	SHELLY WITHERS	2016-09-30
001	2014-01-01	SHELLEY WITHERS	2015-07-01
001	2013-01-01	SHELLEY WITHERS	2014-10-14
001	2012-01-01	SHELLEY WITHERS	2013-08-23
001	2010-01-01	SHELLY WITHERS	2011-10-14

Plan Statistics for HANDI QUILTER, INC. 401(K) PROFIT SHARING PLAN

401k plan membership statisitcs for HANDI QUILTER, INC. 401(K) PROFIT SHARING PLAN

Measure Date Value
2023: HANDI QUILTER, INC. 401(K) PROFIT SHARING PLAN 2023 401k membership
Total participants, beginning-of-year 2023-01-01 138
Total number of active participants reported on line 7a of the Form 5500 2023-01-01 106
Number of other retired or separated participants entitled to future benefits 2023-01-01 28
Total of all active and inactive participants 2023-01-01 134
Total participants 2023-01-01 134
Number of participants with account balances 2023-01-01 130
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2023-01-01 7
2022: HANDI QUILTER, INC. 401(K) PROFIT SHARING PLAN 2022 401k membership
Total participants, beginning-of-year 2022-09-01 128
Total number of active participants reported on line 7a of the Form 5500 2022-09-01 114
Number of other retired or separated participants entitled to future benefits 2022-09-01 14
Total of all active and inactive participants 2022-09-01 128
Total participants 2022-09-01 128
Number of participants with account balances 2022-09-01 126
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2022-09-01 6

Measure	Date	Value
2023: HANDI QUILTER, INC. 401(K) PROFIT SHARING PLAN 2023 401k membership
Total participants, beginning-of-year	2023-01-01	138
Total number of active participants reported on line 7a of the Form 5500	2023-01-01	106
Number of other retired or separated participants entitled to future benefits	2023-01-01	28
Total of all active and inactive participants	2023-01-01	134
Total participants	2023-01-01	134
Number of participants with account balances	2023-01-01	130
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2023-01-01	7
2022: HANDI QUILTER, INC. 401(K) PROFIT SHARING PLAN 2022 401k membership
Total participants, beginning-of-year	2022-09-01	128
Total number of active participants reported on line 7a of the Form 5500	2022-09-01	114
Number of other retired or separated participants entitled to future benefits	2022-09-01	14
Total of all active and inactive participants	2022-09-01	128
Total participants	2022-09-01	128
Number of participants with account balances	2022-09-01	126
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2022-09-01	6

Financial Data on HANDI QUILTER, INC. 401(K) PROFIT SHARING PLAN

Measure	Date	Value
2023 : HANDI QUILTER, INC. 401(K) PROFIT SHARING PLAN 2023 401k financial data
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2023-12-31	$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2023-12-31	$817
Total income from all sources (including contributions)	2023-12-31	$1,291,043
Total of all expenses incurred	2023-12-31	$521,638
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2023-12-31	$496,270
Value of total corrective distributions	2023-12-31	$162
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2023-12-31	$732,870
Value of total assets at end of year	2023-12-31	$3,585,559
Value of total assets at beginning of year	2023-12-31	$2,816,971
Total of administrative expenses incurred including professional, contract, advisory and management fees	2023-12-31	$25,206
Total interest from all sources	2023-12-31	$2,364
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2023-12-31	No
Was this plan covered by a fidelity bond	2023-12-31	Yes
Value of fidelity bond cover	2023-12-31	$400,000
If this is an individual account plan, was there a blackout period	2023-12-31	No
Were there any nonexempt tranactions with any party-in-interest	2023-12-31	No
Contributions received from participants	2023-12-31	$470,470
Participant contributions at end of year	2023-12-31	$87,992
Participant contributions at beginning of year	2023-12-31	$21,243
Income. Received or receivable in cash from other sources (including rollovers)	2023-12-31	$77,147
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year	2023-12-31	$0
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year	2023-12-31	$817
Other income not declared elsewhere	2023-12-31	$0
Total non interest bearing cash at end of year	2023-12-31	$6,750
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2023-12-31	No
Value of net income/loss	2023-12-31	$769,405
Value of net assets at end of year (total assets less liabilities)	2023-12-31	$3,585,559
Value of net assets at beginning of year (total assets less liabilities)	2023-12-31	$2,816,154
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2023-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2023-12-31	No
Were any leases to which the plan was party in default or uncollectible	2023-12-31	No
Investment advisory and management fees	2023-12-31	$7,977
Value of interest in pooled separate accounts at end of year	2023-12-31	$3,490,817
Value of interest in pooled separate accounts at beginning of year	2023-12-31	$2,795,728
Interest on participant loans	2023-12-31	$2,364
Net investment gain/loss from pooled separate accounts	2023-12-31	$555,809
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2023-12-31	No
Was there a failure to transmit to the plan any participant contributions	2023-12-31	Yes
Has the plan failed to provide any benefit when due under the plan	2023-12-31	No
Contributions received in cash from employer	2023-12-31	$185,253
Employer contributions (assets) at end of year	2023-12-31	$0
Employer contributions (assets) at beginning of year	2023-12-31	$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2023-12-31	$496,270
Contract administrator fees	2023-12-31	$17,229
Did the plan have assets held for investment	2023-12-31	Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser	2023-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2023-12-31	No
Opinion of an independent qualified public accountant for this plan	2023-12-31	Unqualified
Accountancy firm name	2023-12-31	EIDE BAILLY LLP
Accountancy firm EIN	2023-12-31	450250958
2022 : HANDI QUILTER, INC. 401(K) PROFIT SHARING PLAN 2022 401k financial data
Total transfer of assets to this plan	2022-12-31	$2,759,310
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2022-12-31	$14,303
Total income from all sources (including contributions)	2022-12-31	$65,959
Total of all expenses incurred	2022-12-31	$22,094
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2022-12-31	$14,189
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2022-12-31	$179,105
Value of total assets at end of year	2022-12-31	$2,817,478
Total of administrative expenses incurred including professional, contract, advisory and management fees	2022-12-31	$7,905
Total interest from all sources	2022-12-31	$350
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2022-12-31	No
Administrative expenses professional fees incurred	2022-12-31	$275
Was this plan covered by a fidelity bond	2022-12-31	Yes
Value of fidelity bond cover	2022-12-31	$300,000
If this is an individual account plan, was there a blackout period	2022-12-31	No
Were there any nonexempt tranactions with any party-in-interest	2022-12-31	No
Contributions received from participants	2022-12-31	$129,227
Participant contributions at end of year	2022-12-31	$21,243
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year	2022-12-31	$14,303
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2022-12-31	No
Value of net income/loss	2022-12-31	$43,865
Value of net assets at end of year (total assets less liabilities)	2022-12-31	$2,803,175
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2022-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2022-12-31	No
Were any leases to which the plan was party in default or uncollectible	2022-12-31	No
Investment advisory and management fees	2022-12-31	$2,254
Value of interest in pooled separate accounts at end of year	2022-12-31	$2,795,728
Interest on participant loans	2022-12-31	$350
Net investment gain/loss from pooled separate accounts	2022-12-31	$-113,496
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2022-12-31	No
Was there a failure to transmit to the plan any participant contributions	2022-12-31	No
Has the plan failed to provide any benefit when due under the plan	2022-12-31	No
Contributions received in cash from employer	2022-12-31	$49,878
Employer contributions (assets) at end of year	2022-12-31	$507
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2022-12-31	$14,189
Contract administrator fees	2022-12-31	$5,376
Did the plan have assets held for investment	2022-12-31	Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser	2022-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2022-12-31	No
Opinion of an independent qualified public accountant for this plan	2022-12-31	Unqualified
Accountancy firm name	2022-12-31	EIDE BAILLY LLP
Accountancy firm EIN	2022-12-31	450250958

Form 5500 Responses for HANDI QUILTER, INC. 401(K) PROFIT SHARING PLAN

2023: HANDI QUILTER, INC. 401(K) PROFIT SHARING PLAN 2023 form 5500 responses
2023-01-01	Type of plan entity	Single employer plan
2023-01-01	Plan funding arrangement – Insurance	Yes
2023-01-01	Plan funding arrangement – Trust	Yes
2023-01-01	Plan benefit arrangement – Insurance	Yes
2023-01-01	Plan benefit arrangement - Trust	Yes
2022: HANDI QUILTER, INC. 401(K) PROFIT SHARING PLAN 2022 form 5500 responses
2022-09-01	Type of plan entity	Single employer plan
2022-09-01	First time form 5500 has been submitted	Yes
2022-09-01	Submission has been amended	Yes
2022-09-01	This return/report is a short plan year return/report (less than 12 months)	Yes
2022-09-01	Plan funding arrangement – Insurance	Yes
2022-09-01	Plan funding arrangement – Trust	Yes
2022-09-01	Plan benefit arrangement – Insurance	Yes

Insurance Providers Used on plan

JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )

Policy contract number

157478

Policy instance

Insurance contract or identification number	157478
Number of Individuals Covered	133
Total amount of fees paid to insurance company	USD $1,582
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?	No

JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )

Policy contract number

Policy instance

Number of Individuals Covered	128
Total amount of commissions paid to insurance broker	USD $337
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?	No
Commission paid to Insurance Broker	USD $337
Additional information about fees paid to insurance broker	SERVICE PROGRAM FEES
Insurance broker organization code?	5

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Company Name:	HANDI QUILTER, INC.
Employer identification number (EIN):	263861600
NAIC Classification:	454110
NAIC Description:	Electronic Shopping and Mail-Order Houses