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CULP ENTERPRISES, INC. 401 (K) 401k Plan overview

Plan NameCULP ENTERPRISES, INC. 401 (K)
Plan identification number 001

CULP ENTERPRISES, INC. 401 (K) Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Profit-sharing
  • 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.
  • 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

CULP ENTERPRISES, INC. has sponsored the creation of one or more 401k plans.

Company Name:CULP ENTERPRISES, INC.
Employer identification number (EIN):264622892
NAIC Classification:561300

Additional information about CULP ENTERPRISES, INC.

Jurisdiction of Incorporation: Florida Department of State Division of Corporations
Incorporation Date: 1997-12-23
Company Identification Number: P97000107543
Legal Registered Office Address: 1548 LANCASTER TERRACE

JACKSONVILLE

32204

More information about CULP ENTERPRISES, INC.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan CULP ENTERPRISES, INC. 401 (K)

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012020-01-01
0012019-01-01
0012018-01-01
0012017-01-01SHELLEY E. CULP
0012016-01-01SHELLEY E. CULP
0012015-01-01SHELLEY E. CULP
0012014-01-01SHELLEY E. CULP
0012013-01-01SHELLEY E. CULP
0012012-01-01SHELLEY E. CULP
0012011-01-01SHELLEY E. CULP
0012009-04-17SHELLEY CULP

Plan Statistics for CULP ENTERPRISES, INC. 401 (K)

401k plan membership statisitcs for CULP ENTERPRISES, INC. 401 (K)

Measure Date Value
2020: CULP ENTERPRISES, INC. 401 (K) 2020 401k membership
Total participants, beginning-of-year2020-01-011
Total number of active participants reported on line 7a of the Form 55002020-01-010
Total of all active and inactive participants2020-01-010
Total participants2020-01-010
Number of participants with account balances2020-01-010
2019: CULP ENTERPRISES, INC. 401 (K) 2019 401k membership
Total participants, beginning-of-year2019-01-012
Total number of active participants reported on line 7a of the Form 55002019-01-011
Total of all active and inactive participants2019-01-011
Total participants2019-01-011
Number of participants with account balances2019-01-011
2018: CULP ENTERPRISES, INC. 401 (K) 2018 401k membership
Total participants, beginning-of-year2018-01-0130
Total number of active participants reported on line 7a of the Form 55002018-01-012
Total of all active and inactive participants2018-01-012
Total participants2018-01-012
Number of participants with account balances2018-01-011
2017: CULP ENTERPRISES, INC. 401 (K) 2017 401k membership
Total participants, beginning-of-year2017-01-0190
Total number of active participants reported on line 7a of the Form 55002017-01-0130
Total of all active and inactive participants2017-01-0130
Total participants2017-01-0130
Number of participants with account balances2017-01-011
2016: CULP ENTERPRISES, INC. 401 (K) 2016 401k membership
Total participants, beginning-of-year2016-01-0192
Total number of active participants reported on line 7a of the Form 55002016-01-0190
Total of all active and inactive participants2016-01-0190
Total participants2016-01-0190
Number of participants with account balances2016-01-011
2015: CULP ENTERPRISES, INC. 401 (K) 2015 401k membership
Total participants, beginning-of-year2015-01-0155
Total number of active participants reported on line 7a of the Form 55002015-01-0135
Number of retired or separated participants receiving benefits2015-01-010
Number of other retired or separated participants entitled to future benefits2015-01-010
Total of all active and inactive participants2015-01-0135
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2015-01-010
Total participants2015-01-0135
Number of participants with account balances2015-01-011
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2015-01-010
2014: CULP ENTERPRISES, INC. 401 (K) 2014 401k membership
Total participants, beginning-of-year2014-01-0149
Total number of active participants reported on line 7a of the Form 55002014-01-0168
Number of retired or separated participants receiving benefits2014-01-010
Number of other retired or separated participants entitled to future benefits2014-01-010
Total of all active and inactive participants2014-01-0168
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2014-01-010
Total participants2014-01-0168
Number of participants with account balances2014-01-011
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2014-01-010
2013: CULP ENTERPRISES, INC. 401 (K) 2013 401k membership
Total participants, beginning-of-year2013-01-016
Total number of active participants reported on line 7a of the Form 55002013-01-016
Number of retired or separated participants receiving benefits2013-01-010
Number of other retired or separated participants entitled to future benefits2013-01-010
Total of all active and inactive participants2013-01-016
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2013-01-010
Total participants2013-01-016
Number of participants with account balances2013-01-011
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2013-01-010
2012: CULP ENTERPRISES, INC. 401 (K) 2012 401k membership
Total participants, beginning-of-year2012-01-012
Total number of active participants reported on line 7a of the Form 55002012-01-015
Total of all active and inactive participants2012-01-015
Total participants2012-01-015
Number of participants with account balances2012-01-011
2011: CULP ENTERPRISES, INC. 401 (K) 2011 401k membership
Total participants, beginning-of-year2011-01-012
Total number of active participants reported on line 7a of the Form 55002011-01-012
Number of retired or separated participants receiving benefits2011-01-010
Number of other retired or separated participants entitled to future benefits2011-01-010
Total of all active and inactive participants2011-01-012
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2011-01-010
Total participants2011-01-012
Number of participants with account balances2011-01-011
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2011-01-010
2009: CULP ENTERPRISES, INC. 401 (K) 2009 401k membership
Total participants, beginning-of-year2009-04-172
Total number of active participants reported on line 7a of the Form 55002009-04-172
Total of all active and inactive participants2009-04-172
Total participants2009-04-172
Number of participants with account balances2009-04-171

Financial Data on CULP ENTERPRISES, INC. 401 (K)

Measure Date Value
2020 : CULP ENTERPRISES, INC. 401 (K) 2020 401k financial data
Total income from all sources2020-03-09$10,112
Expenses. Total of all expenses incurred2020-03-09$20,000
Benefits paid (including direct rollovers)2020-03-09$19,985
Total plan assets at end of year2020-03-09$0
Total plan assets at beginning of year2020-03-09$9,888
Expenses. Other expenses not covered elsewhere2020-03-09$15
Other income received2020-03-09$10,112
Net income (gross income less expenses)2020-03-09$-9,888
Net plan assets at end of year (total assets less liabilities)2020-03-09$0
Net plan assets at beginning of year (total assets less liabilities)2020-03-09$9,888
Assets. Value of employer securities2020-03-09$0
2019 : CULP ENTERPRISES, INC. 401 (K) 2019 401k financial data
Total income from all sources2019-12-31$-738,977
Total plan assets at end of year2019-12-31$9,888
Total plan assets at beginning of year2019-12-31$748,865
Other income received2019-12-31$-738,977
Net income (gross income less expenses)2019-12-31$-738,977
Net plan assets at end of year (total assets less liabilities)2019-12-31$9,888
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$748,865
Assets. Value of employer securities2019-12-31$9,888
2018 : CULP ENTERPRISES, INC. 401 (K) 2018 401k financial data
Total income from all sources2018-12-31$358,726
Total plan assets at end of year2018-12-31$758,865
Total plan assets at beginning of year2018-12-31$400,139
Other income received2018-12-31$358,726
Net income (gross income less expenses)2018-12-31$358,726
Net plan assets at end of year (total assets less liabilities)2018-12-31$758,865
Net plan assets at beginning of year (total assets less liabilities)2018-12-31$400,139
Assets. Value of employer securities2018-12-31$758,865
2017 : CULP ENTERPRISES, INC. 401 (K) 2017 401k financial data
Total income from all sources2017-12-31$-1,059,340
Total plan assets at end of year2017-12-31$400,139
Total plan assets at beginning of year2017-12-31$1,459,479
Value of fidelity bond covering the plan2017-12-31$10,000
Other income received2017-12-31$-1,059,340
Net income (gross income less expenses)2017-12-31$-1,059,340
Net plan assets at end of year (total assets less liabilities)2017-12-31$400,139
Net plan assets at beginning of year (total assets less liabilities)2017-12-31$1,459,479
Assets. Value of employer securities2017-12-31$400,139
2016 : CULP ENTERPRISES, INC. 401 (K) 2016 401k financial data
Total income from all sources2016-12-31$2,178
Total plan assets at end of year2016-12-31$1,459,479
Total plan assets at beginning of year2016-12-31$1,457,301
Other income received2016-12-31$2,178
Net income (gross income less expenses)2016-12-31$2,178
Net plan assets at end of year (total assets less liabilities)2016-12-31$1,459,479
Net plan assets at beginning of year (total assets less liabilities)2016-12-31$1,457,301
Assets. Value of employer securities2016-12-31$1,459,479
2015 : CULP ENTERPRISES, INC. 401 (K) 2015 401k financial data
Total income from all sources2015-12-31$181,789
Expenses. Total of all expenses incurred2015-12-31$0
Benefits paid (including direct rollovers)2015-12-31$0
Total plan assets at end of year2015-12-31$1,457,301
Total plan assets at beginning of year2015-12-31$1,275,512
Value of fidelity bond covering the plan2015-12-31$10,000
Total contributions received or receivable from participants2015-12-31$0
Contributions received from other sources (not participants or employers)2015-12-31$0
Other income received2015-12-31$181,789
Net income (gross income less expenses)2015-12-31$181,789
Net plan assets at end of year (total assets less liabilities)2015-12-31$1,457,301
Net plan assets at beginning of year (total assets less liabilities)2015-12-31$1,275,512
Assets. Value of employer securities2015-12-31$1,457,301
Total contributions received or receivable from employer(s)2015-12-31$0
Value of certain deemed distributions of participant loans2015-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2015-12-31$0
2014 : CULP ENTERPRISES, INC. 401 (K) 2014 401k financial data
Total income from all sources2014-12-31$94,443
Expenses. Total of all expenses incurred2014-12-31$0
Benefits paid (including direct rollovers)2014-12-31$0
Total plan assets at end of year2014-12-31$1,275,512
Total plan assets at beginning of year2014-12-31$1,181,069
Value of fidelity bond covering the plan2014-12-31$10,000
Total contributions received or receivable from participants2014-12-31$0
Contributions received from other sources (not participants or employers)2014-12-31$0
Other income received2014-12-31$94,443
Net income (gross income less expenses)2014-12-31$94,443
Net plan assets at end of year (total assets less liabilities)2014-12-31$1,275,512
Net plan assets at beginning of year (total assets less liabilities)2014-12-31$1,181,069
Assets. Value of employer securities2014-12-31$1,275,512
Total contributions received or receivable from employer(s)2014-12-31$0
Value of certain deemed distributions of participant loans2014-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2014-12-31$0
2013 : CULP ENTERPRISES, INC. 401 (K) 2013 401k financial data
Total income from all sources2013-12-31$221,303
Expenses. Total of all expenses incurred2013-12-31$0
Benefits paid (including direct rollovers)2013-12-31$0
Total plan assets at end of year2013-12-31$1,181,069
Total plan assets at beginning of year2013-12-31$959,766
Value of fidelity bond covering the plan2013-12-31$10,000
Total contributions received or receivable from participants2013-12-31$0
Contributions received from other sources (not participants or employers)2013-12-31$0
Other income received2013-12-31$221,303
Net income (gross income less expenses)2013-12-31$221,303
Net plan assets at end of year (total assets less liabilities)2013-12-31$1,181,069
Net plan assets at beginning of year (total assets less liabilities)2013-12-31$959,766
Assets. Value of employer securities2013-12-31$1,181,069
Total contributions received or receivable from employer(s)2013-12-31$0
Value of certain deemed distributions of participant loans2013-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2013-12-31$0
2012 : CULP ENTERPRISES, INC. 401 (K) 2012 401k financial data
Total income from all sources2012-12-31$508,140
Total plan assets at end of year2012-12-31$959,766
Total plan assets at beginning of year2012-12-31$451,626
Value of fidelity bond covering the plan2012-12-31$10,000
Other income received2012-12-31$508,140
Net income (gross income less expenses)2012-12-31$508,140
Net plan assets at end of year (total assets less liabilities)2012-12-31$959,766
Net plan assets at beginning of year (total assets less liabilities)2012-12-31$451,626
Assets. Value of employer securities2012-12-31$959,766
2011 : CULP ENTERPRISES, INC. 401 (K) 2011 401k financial data
Total income from all sources2011-12-31$402,304
Expenses. Total of all expenses incurred2011-12-31$0
Benefits paid (including direct rollovers)2011-12-31$0
Total plan assets at end of year2011-12-31$451,626
Total plan assets at beginning of year2011-12-31$49,322
Value of fidelity bond covering the plan2011-12-31$10,000
Total contributions received or receivable from participants2011-12-31$0
Contributions received from other sources (not participants or employers)2011-12-31$0
Other income received2011-12-31$402,304
Net income (gross income less expenses)2011-12-31$402,304
Net plan assets at end of year (total assets less liabilities)2011-12-31$451,626
Net plan assets at beginning of year (total assets less liabilities)2011-12-31$49,322
Assets. Value of employer securities2011-12-31$451,626
Total contributions received or receivable from employer(s)2011-12-31$0
Value of certain deemed distributions of participant loans2011-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2011-12-31$0
2010 : CULP ENTERPRISES, INC. 401 (K) 2010 401k financial data
Total income from all sources2010-12-31$-37,764
Total plan assets at end of year2010-12-31$49,322
Total plan assets at beginning of year2010-12-31$87,086
Value of fidelity bond covering the plan2010-12-31$10,000
Other income received2010-12-31$-37,764
Net income (gross income less expenses)2010-12-31$-37,764
Net plan assets at end of year (total assets less liabilities)2010-12-31$49,322
Net plan assets at beginning of year (total assets less liabilities)2010-12-31$87,086
Assets. Value of employer securities2010-12-31$49,321

Form 5500 Responses for CULP ENTERPRISES, INC. 401 (K)

2020: CULP ENTERPRISES, INC. 401 (K) 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
2020-01-01This submission is the final filingYes
2020-01-01This return/report is a short plan year return/report (less than 12 months)Yes
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement - TrustYes
2019: CULP ENTERPRISES, INC. 401 (K) 2019 form 5500 responses
2019-01-01Type of plan entitySingle employer plan
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement - TrustYes
2018: CULP ENTERPRISES, INC. 401 (K) 2018 form 5500 responses
2018-01-01Type of plan entitySingle employer plan
2018-01-01Plan funding arrangement – TrustYes
2018-01-01Plan benefit arrangement - TrustYes
2017: CULP ENTERPRISES, INC. 401 (K) 2017 form 5500 responses
2017-01-01Type of plan entitySingle employer plan
2017-01-01Plan funding arrangement – TrustYes
2017-01-01Plan benefit arrangement - TrustYes
2016: CULP ENTERPRISES, INC. 401 (K) 2016 form 5500 responses
2016-01-01Type of plan entitySingle employer plan
2016-01-01Plan funding arrangement – TrustYes
2016-01-01Plan benefit arrangement - TrustYes
2015: CULP ENTERPRISES, INC. 401 (K) 2015 form 5500 responses
2015-01-01Type of plan entitySingle employer plan
2015-01-01Plan funding arrangement – TrustYes
2015-01-01Plan benefit arrangement - TrustYes
2014: CULP ENTERPRISES, INC. 401 (K) 2014 form 5500 responses
2014-01-01Type of plan entitySingle employer plan
2014-01-01Plan funding arrangement – TrustYes
2014-01-01Plan benefit arrangement - TrustYes
2013: CULP ENTERPRISES, INC. 401 (K) 2013 form 5500 responses
2013-01-01Type of plan entitySingle employer plan
2013-01-01Plan funding arrangement – TrustYes
2013-01-01Plan benefit arrangement - TrustYes
2012: CULP ENTERPRISES, INC. 401 (K) 2012 form 5500 responses
2012-01-01Type of plan entitySingle employer plan
2012-01-01Plan funding arrangement – TrustYes
2012-01-01Plan benefit arrangement - TrustYes
2011: CULP ENTERPRISES, INC. 401 (K) 2011 form 5500 responses
2011-01-01Type of plan entitySingle employer plan
2011-01-01Plan funding arrangement – TrustYes
2011-01-01Plan benefit arrangement - TrustYes
2009: CULP ENTERPRISES, INC. 401 (K) 2009 form 5500 responses
2009-04-17Type of plan entitySingle employer plan
2009-04-17First time form 5500 has been submittedYes
2009-04-17Submission has been amendedNo
2009-04-17This submission is the final filingNo
2009-04-17This return/report is a short plan year return/report (less than 12 months)Yes
2009-04-17Plan is a collectively bargained planNo
2009-04-17Plan funding arrangement – TrustYes
2009-04-17Plan benefit arrangement - TrustYes

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