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IBS OF WESTERN OKLAHOMA PROFIT SHARING PLAN 401k Plan overview

Plan NameIBS OF WESTERN OKLAHOMA PROFIT SHARING PLAN
Plan identification number 001

IBS OF WESTERN OKLAHOMA PROFIT SHARING PLAN 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.
  • 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

DOUBLE T ENTERPRISES, LLC DBA IBS OF WESTERN OKLAHOMA has sponsored the creation of one or more 401k plans.

Company Name:DOUBLE T ENTERPRISES, LLC DBA IBS OF WESTERN OKLAHOMA
Employer identification number (EIN):270434108
NAIC Classification:423100

Form 5500 Filing Information

Submission information for form 5500 for 401k plan IBS OF WESTERN OKLAHOMA PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012024-01-01IAN TERRY
0012023-01-01
0012023-01-01IAN TERRY
0012022-01-01
0012022-01-01IAN TERRY
0012021-01-01
0012021-01-01IAN TERRY
0012020-01-01
0012020-01-01
0012019-01-01
0012018-01-01
0012017-01-01IAN TERRY
0012016-01-01IAN TERRY
0012015-01-01JOHN CLOUSE2016-10-06
0012014-01-01
0012013-01-01
0012012-01-01JOHN CLOUSE2013-07-17
0012011-01-01LARRY PACE
0012010-01-01LARRY PACE

Financial Data on IBS OF WESTERN OKLAHOMA PROFIT SHARING PLAN

Measure Date Value
2024 : IBS OF WESTERN OKLAHOMA PROFIT SHARING PLAN 2024 401k financial data
Total plan liabilities at end of year2024-01-01$0
Total plan liabilities at beginning of year2024-01-01$0
Total income from all sources2024-01-01$47,760
Expenses. Total of all expenses incurred2024-01-01$958
Benefits paid (including direct rollovers)2024-01-01$655
Total plan assets at end of year2024-01-01$345,490
Total plan assets at beginning of year2024-01-01$298,688
Value of fidelity bond covering the plan2024-01-01$50,000
Total contributions received or receivable from participants2024-01-01$12,345
Other income received2024-01-01$30,862
Net income (gross income less expenses)2024-01-01$46,802
Net plan assets at end of year (total assets less liabilities)2024-01-01$345,490
Net plan assets at beginning of year (total assets less liabilities)2024-01-01$298,688
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$7,505
Total contributions received or receivable from employer(s)2024-01-01$4,553
Expenses. Administrative service providers (salaries,fees and commissions)2024-01-01$303
2023 : IBS OF WESTERN OKLAHOMA PROFIT SHARING PLAN 2023 401k financial data
Total plan liabilities at end of year2023-12-31$0
Total plan liabilities at beginning of year2023-12-31$0
Total income from all sources2023-12-31$84,466
Expenses. Total of all expenses incurred2023-12-31$259,880
Benefits paid (including direct rollovers)2023-12-31$259,880
Total plan assets at end of year2023-12-31$298,688
Total plan assets at beginning of year2023-12-31$474,102
Value of fidelity bond covering the plan2023-12-31$50,000
Total contributions received or receivable from participants2023-12-31$10,872
Other income received2023-12-31$68,921
Net income (gross income less expenses)2023-12-31$-175,414
Net plan assets at end of year (total assets less liabilities)2023-12-31$298,688
Net plan assets at beginning of year (total assets less liabilities)2023-12-31$474,102
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$7,505
Total contributions received or receivable from employer(s)2023-12-31$4,673
2022 : IBS OF WESTERN OKLAHOMA PROFIT SHARING PLAN 2022 401k financial data
Total plan liabilities at end of year2022-12-31$0
Total plan liabilities at beginning of year2022-12-31$0
Total income from all sources2022-12-31$-129,878
Expenses. Total of all expenses incurred2022-12-31$12,422
Benefits paid (including direct rollovers)2022-12-31$12,422
Total plan assets at end of year2022-12-31$474,102
Total plan assets at beginning of year2022-12-31$616,402
Value of fidelity bond covering the plan2022-12-31$50,000
Total contributions received or receivable from participants2022-12-31$13,262
Other income received2022-12-31$-148,342
Net income (gross income less expenses)2022-12-31$-142,300
Net plan assets at end of year (total assets less liabilities)2022-12-31$474,102
Net plan assets at beginning of year (total assets less liabilities)2022-12-31$616,402
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$15,537
Total contributions received or receivable from employer(s)2022-12-31$5,202
2021 : IBS OF WESTERN OKLAHOMA PROFIT SHARING PLAN 2021 401k financial data
Total plan liabilities at beginning of year2021-12-31$0
Total income from all sources2021-12-31$108,858
Total plan assets at end of year2021-12-31$616,402
Total plan assets at beginning of year2021-12-31$507,544
Value of fidelity bond covering the plan2021-12-31$50,000
Total contributions received or receivable from participants2021-12-31$12,484
Other income received2021-12-31$91,443
Net income (gross income less expenses)2021-12-31$108,858
Net plan assets at end of year (total assets less liabilities)2021-12-31$616,402
Net plan assets at beginning of year (total assets less liabilities)2021-12-31$507,544
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$26,917
Total contributions received or receivable from employer(s)2021-12-31$4,931
2020 : IBS OF WESTERN OKLAHOMA PROFIT SHARING PLAN 2020 401k financial data
Total plan liabilities at end of year2020-12-31$0
Total plan liabilities at beginning of year2020-12-31$0
Total income from all sources2020-12-31$86,843
Expenses. Total of all expenses incurred2020-12-31$3,803
Benefits paid (including direct rollovers)2020-12-31$3,803
Total plan assets at end of year2020-12-31$507,544
Total plan assets at beginning of year2020-12-31$424,504
Value of fidelity bond covering the plan2020-12-31$50,000
Total contributions received or receivable from participants2020-12-31$14,433
Other income received2020-12-31$66,468
Net income (gross income less expenses)2020-12-31$83,040
Net plan assets at end of year (total assets less liabilities)2020-12-31$507,544
Net plan assets at beginning of year (total assets less liabilities)2020-12-31$424,504
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$14,433
Total contributions received or receivable from employer(s)2020-12-31$5,942
2019 : IBS OF WESTERN OKLAHOMA PROFIT SHARING PLAN 2019 401k financial data
Total plan liabilities at end of year2019-12-31$0
Total plan liabilities at beginning of year2019-12-31$0
Total income from all sources2019-12-31$117,022
Expenses. Total of all expenses incurred2019-12-31$9,368
Benefits paid (including direct rollovers)2019-12-31$9,368
Total plan assets at end of year2019-12-31$424,504
Total plan assets at beginning of year2019-12-31$316,850
Value of fidelity bond covering the plan2019-12-31$50,000
Total contributions received or receivable from participants2019-12-31$22,135
Other income received2019-12-31$86,539
Net income (gross income less expenses)2019-12-31$107,654
Net plan assets at end of year (total assets less liabilities)2019-12-31$424,504
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$316,850
Value of participant contributions where there was a failure to transmit these to the plan within the time period described in 29 CFR 2510.3-1022019-12-31$16,747
Total contributions received or receivable from employer(s)2019-12-31$8,348
2018 : IBS OF WESTERN OKLAHOMA PROFIT SHARING PLAN 2018 401k financial data
Total plan liabilities at beginning of year2018-12-31$0
Total income from all sources2018-12-31$-5,372
Expenses. Total of all expenses incurred2018-12-31$12,235
Benefits paid (including direct rollovers)2018-12-31$12,235
Total plan assets at end of year2018-12-31$316,850
Total plan assets at beginning of year2018-12-31$334,457
Value of fidelity bond covering the plan2018-12-31$50,000
Total contributions received or receivable from participants2018-12-31$20,609
Contributions received from other sources (not participants or employers)2018-12-31$0
Other income received2018-12-31$-34,824
Net income (gross income less expenses)2018-12-31$-17,607
Net plan assets at end of year (total assets less liabilities)2018-12-31$316,850
Net plan assets at beginning of year (total assets less liabilities)2018-12-31$334,457
Value of participant contributions where there was a failure to transmit these to the plan within the time period described in 29 CFR 2510.3-1022018-12-31$12,229
Total contributions received or receivable from employer(s)2018-12-31$8,843
Value of certain deemed distributions of participant loans2018-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2018-12-31$0
2017 : IBS OF WESTERN OKLAHOMA PROFIT SHARING PLAN 2017 401k financial data
Transfers to/from the plan2017-12-31$20,674
Total plan liabilities at end of year2017-12-31$0
Total plan liabilities at beginning of year2017-12-31$0
Total income from all sources2017-12-31$74,337
Total plan assets at end of year2017-12-31$334,457
Total plan assets at beginning of year2017-12-31$239,446
Value of fidelity bond covering the plan2017-12-31$50,000
Total contributions received or receivable from participants2017-12-31$21,684
Contributions received from other sources (not participants or employers)2017-12-31$3,682
Other income received2017-12-31$39,612
Net income (gross income less expenses)2017-12-31$74,337
Net plan assets at end of year (total assets less liabilities)2017-12-31$334,457
Net plan assets at beginning of year (total assets less liabilities)2017-12-31$239,446
Total contributions received or receivable from employer(s)2017-12-31$9,359
2016 : IBS OF WESTERN OKLAHOMA PROFIT SHARING PLAN 2016 401k financial data
Total income from all sources2016-12-31$25,182
Expenses. Total of all expenses incurred2016-12-31$0
Benefits paid (including direct rollovers)2016-12-31$0
Total plan assets at end of year2016-12-31$239,446
Total plan assets at beginning of year2016-12-31$214,264
Value of fidelity bond covering the plan2016-12-31$50,000
Total contributions received or receivable from participants2016-12-31$6,576
Contributions received from other sources (not participants or employers)2016-12-31$0
Other income received2016-12-31$15,780
Net income (gross income less expenses)2016-12-31$25,182
Net plan assets at end of year (total assets less liabilities)2016-12-31$239,446
Net plan assets at beginning of year (total assets less liabilities)2016-12-31$214,264
Total contributions received or receivable from employer(s)2016-12-31$2,826
Value of certain deemed distributions of participant loans2016-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2016-12-31$0
2011 : IBS OF WESTERN OKLAHOMA PROFIT SHARING PLAN 2011 401k financial data
Expenses. Total of all expenses incurred2011-12-31$7,238
Total plan assets at end of year2011-12-31$132,083
Total plan assets at beginning of year2011-12-31$139,321
Expenses. Other expenses not covered elsewhere2011-12-31$7,238
Net income (gross income less expenses)2011-12-31$-7,238
Net plan assets at end of year (total assets less liabilities)2011-12-31$132,083
Net plan assets at beginning of year (total assets less liabilities)2011-12-31$139,321
2010 : IBS OF WESTERN OKLAHOMA PROFIT SHARING PLAN 2010 401k financial data
Total income from all sources2010-12-31$12,285
Expenses. Total of all expenses incurred2010-12-31$318,866
Benefits paid (including direct rollovers)2010-12-31$318,866
Total plan assets at end of year2010-12-31$139,321
Total plan assets at beginning of year2010-12-31$445,902
Other income received2010-12-31$12,285
Net income (gross income less expenses)2010-12-31$-306,581
Net plan assets at end of year (total assets less liabilities)2010-12-31$139,321
Net plan assets at beginning of year (total assets less liabilities)2010-12-31$445,902

Form 5500 Responses for IBS OF WESTERN OKLAHOMA PROFIT SHARING PLAN

2023: IBS OF WESTERN OKLAHOMA PROFIT SHARING PLAN 2023 form 5500 responses
2023-01-01Type of plan entitySingle employer plan
2023-01-01Plan funding arrangement – InsuranceYes
2023-01-01Plan funding arrangement – TrustYes
2023-01-01Plan benefit arrangement - TrustYes
2022: IBS OF WESTERN OKLAHOMA PROFIT SHARING PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01Plan funding arrangement – InsuranceYes
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement - TrustYes
2021: IBS OF WESTERN OKLAHOMA PROFIT SHARING PLAN 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement - TrustYes
2020: IBS OF WESTERN OKLAHOMA PROFIT SHARING PLAN 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
2020-01-01Submission has been amendedYes
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement - TrustYes
2019: IBS OF WESTERN OKLAHOMA PROFIT SHARING PLAN 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: IBS OF WESTERN OKLAHOMA PROFIT SHARING PLAN 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: IBS OF WESTERN OKLAHOMA PROFIT SHARING PLAN 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: IBS OF WESTERN OKLAHOMA PROFIT SHARING PLAN 2016 form 5500 responses
2016-01-01Type of plan entitySingle employer plan
2016-01-01Plan funding arrangement – TrustYes
2016-01-01Plan benefit arrangement - TrustYes
2011: IBS OF WESTERN OKLAHOMA PROFIT SHARING PLAN 2011 form 5500 responses
2011-01-01Type of plan entitySingle employer plan
2011-01-01Submission has been amendedNo
2011-01-01This submission is the final filingNo
2011-01-01This return/report is a short plan year return/report (less than 12 months)No
2011-01-01Plan is a collectively bargained planNo
2011-01-01Plan funding arrangement – TrustYes
2011-01-01Plan benefit arrangement - TrustYes
2010: IBS OF WESTERN OKLAHOMA PROFIT SHARING PLAN 2010 form 5500 responses
2010-01-01Type of plan entitySingle employer plan
2010-01-01Submission has been amendedNo
2010-01-01This submission is the final filingNo
2010-01-01This return/report is a short plan year return/report (less than 12 months)No
2010-01-01Plan is a collectively bargained planNo
2010-01-01Plan funding arrangement – TrustYes
2010-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

NATIONWIDE LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 66869 )
Policy contract number871-80131
Policy instance 1
Insurance contract or identification number871-80131
Number of Individuals Covered12
Insurance policy start date2023-01-01
Insurance policy end date2023-12-31
Are there contracts with unallocated funds for contracts of type guaranteed investment?Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
NATIONWIDE LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 66869 )
Policy contract number871-80131
Policy instance 1
Insurance contract or identification number871-80131
Number of Individuals Covered13
Insurance policy start date2022-01-01
Insurance policy end date2022-12-31
Total amount of commissions paid to insurance brokerUSD $9
Are there contracts with unallocated funds for contracts of type guaranteed investment?Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
NATIONWIDE LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 66869 )
Policy contract number871-80131
Policy instance 1

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