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SHARPNACK AUTO FAMILY 401(K) PROFIT SHARING PLAN 401k Plan overview

Plan NameSHARPNACK AUTO FAMILY 401(K) PROFIT SHARING PLAN
Plan identification number 001

SHARPNACK AUTO FAMILY 401(K) PROFIT SHARING 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.
  • 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

SHARPNACK CHEVROLET BUICK, INC. has sponsored the creation of one or more 401k plans.

Company Name:SHARPNACK CHEVROLET BUICK, INC.
Employer identification number (EIN):341701946
NAIC Classification:441110
NAIC Description:New Car Dealers

Form 5500 Filing Information

Submission information for form 5500 for 401k plan SHARPNACK AUTO FAMILY 401(K) PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01RHONDA HOLBROOK2024-10-03 RHONDA HOLBROOK2024-10-03
0012022-01-01THOMAS SHARPNACK2023-03-30 THOMAS SHARPNACK2023-03-30
0012021-01-01RHONDA HOLBROOK2022-06-03 RHONDA HOLBROOK2022-06-03
0012020-01-01THOMAS SHARPNACK2021-03-04 THOMAS SHARPNACK2021-03-04
0012019-01-01RHONDA HOLBROOK2020-07-07 RHONDA HOLBROOK2020-07-07
0012018-01-01RHONDA HOLBROOK2019-07-10 RHONDA HOLBROOK2019-07-10
0012017-01-01RHONDA HOLBROOK2018-07-30 RHONDA HOLBROOK2018-07-30
0012016-01-01THOMAS SHARPNACK THOMAS SHARPNACK2017-10-13
0012015-01-01THOMAS SHARPNACK THOMAS SHARPNACK2016-10-14
0012015-01-01THOMAS SHARPNACK THOMAS SHARPNACK2016-10-17
0012014-01-01THOMAS SHARPNACK2015-02-26 THOMAS SHARPNACK2015-02-26
0012013-01-01THOMAS SHARPNACK2014-03-06 THOMAS SHARPNACK2014-03-06
0012012-01-01THOMAS C SHARPNACK2013-07-24 THOMAS C SHARPNACK2013-07-24
0012011-01-01THOMAS C SHARPNACK2012-06-13 THOMAS C SHARPNACK2012-06-13
0012010-01-01RHONDA HOLBROOK2011-08-03 THOMAS SHARPNACK2011-08-03

Financial Data on SHARPNACK AUTO FAMILY 401(K) PROFIT SHARING PLAN

Measure Date Value
2025 : SHARPNACK AUTO FAMILY 401(K) PROFIT SHARING PLAN 2025 401k financial data
Total transfers to/from plan in this plan year2025-07-030
Total liabilities as of the end of the plan year2025-07-030
Total liabilities as of the beginning of the plan year2025-07-030
Total expenses incurred by plan in this plan year2025-07-03126922
Net assets as of the end of the plan year2025-07-032918156
Total assets as of the beginning of the plan year2025-07-032536543
Value of plan covered by a fidelity bond2025-07-03500000
Participant contributions to plan in this plan year2025-07-03156814
Value of participant loans at end of plan year2025-07-0334531
Other expenses paid from plan in this plan year2025-07-030
Other contributions to plan in this plan year2025-07-0351873
Other income to plan in this plan year2025-07-03265502
Plan net income in this plan year2025-07-03381613
Net assets as of the end of the plan year2025-07-032918156
Net assets as of the beginning of the plan year2025-07-032536543
Employer contributions to plan in this plan year2025-07-0334346
Expensese paid to adminstrative service provicers from plan in this plan year2025-07-037887
2024 : SHARPNACK AUTO FAMILY 401(K) PROFIT SHARING PLAN 2024 401k financial data
Total transfers to/from plan in this plan year2024-10-030
Total liabilities as of the end of the plan year2024-10-030
Total liabilities as of the beginning of the plan year2024-10-030
Total expenses incurred by plan in this plan year2024-10-03245894
Net assets as of the end of the plan year2024-10-032536543
Total assets as of the beginning of the plan year2024-10-032275892
Value of plan covered by a fidelity bond2024-10-03250000
Participant contributions to plan in this plan year2024-10-03149272
Value of participant loans at end of plan year2024-10-0349330
Other expenses paid from plan in this plan year2024-10-030
Other contributions to plan in this plan year2024-10-030
Other income to plan in this plan year2024-10-03323541
Plan net income in this plan year2024-10-03260651
Net assets as of the end of the plan year2024-10-032536543
Net assets as of the beginning of the plan year2024-10-032275892
Value of contributions failed to transmitted timely2024-10-03469
Employer contributions to plan in this plan year2024-10-0333732
Expensese paid to adminstrative service provicers from plan in this plan year2024-10-036473
2022 : SHARPNACK AUTO FAMILY 401(K) PROFIT SHARING PLAN 2022 401k financial data
Total transfers to/from plan in this plan year2022-06-030
Total liabilities as of the end of the plan year2022-06-030
Total liabilities as of the beginning of the plan year2022-06-030
Total expenses incurred by plan in this plan year2022-06-03151771
Net assets as of the end of the plan year2022-06-032746481
Total assets as of the beginning of the plan year2022-06-032467733
Value of plan covered by a fidelity bond2022-06-03250000
Participant contributions to plan in this plan year2022-06-03129762
Value of participant loans at end of plan year2022-06-0334467
Other expenses paid from plan in this plan year2022-06-030
Other contributions to plan in this plan year2022-06-030
Other income to plan in this plan year2022-06-03271359
Plan net income in this plan year2022-06-03278748
Net assets as of the end of the plan year2022-06-032746481
Net assets as of the beginning of the plan year2022-06-032467733
Value of contributions failed to transmitted timely2022-06-03469
Employer contributions to plan in this plan year2022-06-0329398
Expensese paid to adminstrative service provicers from plan in this plan year2022-06-039936
2016 : SHARPNACK AUTO FAMILY 401(K) PROFIT SHARING PLAN 2016 401k financial data
Unrealized appreciation/depreciation of real estate assets2016-12-31$0
Unrealized appreciation/depreciation of other (non real estate) assets2016-12-31$0
Total unrealized appreciation/depreciation of assets2016-12-31$0
Total transfer of assets to this plan2016-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2016-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2016-12-31$0
Expenses. Interest paid2016-12-31$0
Amount of participant contributions which was failed to transmit to the plan within the time period described in 29 CFR 251.3-1022016-12-31$0
Total income from all sources (including contributions)2016-12-31$322,945
Total loss/gain on sale of assets2016-12-31$0
Total of all expenses incurred2016-12-31$169,531
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2016-12-31$156,328
Expenses. Certain deemed distributions of participant loans2016-12-31$0
Value of total corrective distributions2016-12-31$3,541
Total contributions o plan (from employers,participants, others, non cash contrinutions)2016-12-31$222,370
Value of total assets at end of year2016-12-31$1,571,570
Value of total assets at beginning of year2016-12-31$1,418,156
Total of administrative expenses incurred including professional, contract, advisory and management fees2016-12-31$9,662
Total income from rents2016-12-31$0
Total interest from all sources2016-12-31$3,747
Total dividends received (eg from common stock, registered investment company shares)2016-12-31$426
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2016-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2016-12-31$426
Administrative expenses professional fees incurred2016-12-31$0
Was this plan covered by a fidelity bond2016-12-31Yes
Value of fidelity bond cover2016-12-31$250,000
If this is an individual account plan, was there a blackout period2016-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2016-12-31$0
Were there any nonexempt tranactions with any party-in-interest2016-12-31No
Amount of non-exempt transactions with any party-in-interest2016-12-31$0
Contributions received from participants2016-12-31$99,684
Participant contributions at end of year2016-12-31$54,825
Participant contributions at beginning of year2016-12-31$50,381
Participant contributions at end of year2016-12-31$250
Participant contributions at beginning of year2016-12-31$584
Income. Received or receivable in cash from other sources (including rollovers)2016-12-31$99,411
Expenses. Other payments made (not to insurance carriers or or participants/beneficiaries)2016-12-31$0
Value of other receiveables (less allowance for doubtful accounts) at end of year2016-12-31$0
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2016-12-31$0
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2016-12-31$0
Other income not declared elsewhere2016-12-31$0
Administrative expenses (other) incurred2016-12-31$0
Liabilities. Value of operating payables at beginning of year2016-12-31$0
Total non interest bearing cash at end of year2016-12-31$0
Total non interest bearing cash at beginning of year2016-12-31$0
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2016-12-31No
Income. Non cash contributions2016-12-31$0
Value of net income/loss2016-12-31$153,414
Value of net assets at end of year (total assets less liabilities)2016-12-31$1,571,570
Value of net assets at beginning of year (total assets less liabilities)2016-12-31$1,418,156
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2016-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2016-12-31No
Amount of loans by the plan or fixed income obligations due to the plan which were in default/classified-as-uncollectible as of the close of the plan year2016-12-31$0
Were any leases to which the plan was party in default or uncollectible2016-12-31No
Amount of leases to which the plan was a party which were in default/classified-as-uncollectible during the year2016-12-31$0
Investment advisory and management fees2016-12-31$0
Value of interest in registered invesment companies (eg mutual funds) at end of year2016-12-31$49,137
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2016-12-31$34,797
Value of interest in pooled separate accounts at end of year2016-12-31$107,345
Value of interest in pooled separate accounts at beginning of year2016-12-31$75,199
Interest on participant loans2016-12-31$3,098
Income. Interest from loans (other than to participants)2016-12-31$0
Interest earned on other investments2016-12-31$649
Income. Interest from US Government securities2016-12-31$0
Income. Interest from corporate debt instruments2016-12-31$0
Value of interest in common/collective trusts at end of year2016-12-31$1,336,158
Value of interest in common/collective trusts at beginning of year2016-12-31$1,239,160
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2016-12-31$0
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2016-12-31$23,795
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2016-12-31$17,893
Expenses. Payments to insurance carriers foe the provision of benefits2016-12-31$0
Net investment gain/loss from registered investment companies (e.g. mutual funds)2016-12-31$3,252
Net investment gain/loss from pooled separate accounts2016-12-31$8,290
Net investment gain or loss from common/collective trusts2016-12-31$84,860
Net gain/loss from 103.12 investment entities2016-12-31$0
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2016-12-31No
Was there a failure to transmit to the plan any participant contributions2016-12-31Yes
Has the plan failed to provide any benefit when due under the plan2016-12-31No
Contributions received in cash from employer2016-12-31$23,275
Employer contributions (assets) at end of year2016-12-31$60
Employer contributions (assets) at beginning of year2016-12-31$142
Income. Dividends from preferred stock2016-12-31$0
Income. Dividends from common stock2016-12-31$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2016-12-31$156,328
Contract administrator fees2016-12-31$9,662
Liabilities. Value of benefit claims payable at beginning of year2016-12-31$0
Did the plan have assets held for investment2016-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2016-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2016-12-31No
Aggregate proceeds on sale of assets2016-12-31$0
Aggregate carrying amount (costs) on sale of assets2016-12-31$0
Liabilities. Value of acquisition indebtedness at beginning of year2016-12-31$0
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2016-12-31Yes
Opinion of an independent qualified public accountant for this plan2016-12-31Disclaimer
Accountancy firm name2016-12-31CLIFTONLARSONALLENLLP
Accountancy firm EIN2016-12-31410746749
2015 : SHARPNACK AUTO FAMILY 401(K) PROFIT SHARING PLAN 2015 401k financial data
Unrealized appreciation/depreciation of real estate assets2015-12-31$0
Unrealized appreciation/depreciation of other (non real estate) assets2015-12-31$0
Total unrealized appreciation/depreciation of assets2015-12-31$0
Total transfer of assets to this plan2015-12-31$0
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$0
Expenses. Interest paid2015-12-31$0
Amount of participant contributions which was failed to transmit to the plan within the time period described in 29 CFR 251.3-1022015-12-31$0
Total income from all sources (including contributions)2015-12-31$134,745
Total loss/gain on sale of assets2015-12-31$0
Total of all expenses incurred2015-12-31$325,456
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2015-12-31$319,444
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$142,483
Value of total assets at end of year2015-12-31$1,418,156
Value of total assets at beginning of year2015-12-31$1,608,867
Total of administrative expenses incurred including professional, contract, advisory and management fees2015-12-31$6,012
Total income from rents2015-12-31$0
Total interest from all sources2015-12-31$4,027
Total dividends received (eg from common stock, registered investment company shares)2015-12-31$443
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$443
Administrative expenses professional fees incurred2015-12-31$0
Was this plan covered by a fidelity bond2015-12-31Yes
Value of fidelity bond cover2015-12-31$250,000
If this is an individual account plan, was there a blackout period2015-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2015-12-31$0
Were there any nonexempt tranactions with any party-in-interest2015-12-31No
Amount of non-exempt transactions with any party-in-interest2015-12-31$0
Contributions received from participants2015-12-31$116,149
Participant contributions at end of year2015-12-31$50,381
Participant contributions at beginning of year2015-12-31$61,869
Participant contributions at end of year2015-12-31$584
Participant contributions at beginning of year2015-12-31$0
Income. Received or receivable in cash from other sources (including rollovers)2015-12-31$0
Expenses. Other payments made (not to insurance carriers or or participants/beneficiaries)2015-12-31$0
Value of other receiveables (less allowance for doubtful accounts) at end of year2015-12-31$0
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2015-12-31$0
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2015-12-31$0
Other income not declared elsewhere2015-12-31$0
Administrative expenses (other) incurred2015-12-31$0
Liabilities. Value of operating payables at beginning of year2015-12-31$0
Total non interest bearing cash at end of year2015-12-31$0
Total non interest bearing cash at beginning of year2015-12-31$0
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2015-12-31No
Income. Non cash contributions2015-12-31$0
Value of net income/loss2015-12-31$-190,711
Value of net assets at end of year (total assets less liabilities)2015-12-31$1,418,156
Value of net assets at beginning of year (total assets less liabilities)2015-12-31$1,608,867
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
Amount of loans by the plan or fixed income obligations due to the plan which were in default/classified-as-uncollectible as of the close of the plan year2015-12-31$0
Were any leases to which the plan was party in default or uncollectible2015-12-31No
Amount of leases to which the plan was a party which were in default/classified-as-uncollectible during the year2015-12-31$0
Investment advisory and management fees2015-12-31$0
Value of interest in registered invesment companies (eg mutual funds) at end of year2015-12-31$34,797
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2015-12-31$63,253
Value of interest in pooled separate accounts at end of year2015-12-31$75,199
Value of interest in pooled separate accounts at beginning of year2015-12-31$123,936
Interest on participant loans2015-12-31$3,795
Income. Interest from loans (other than to participants)2015-12-31$0
Interest earned on other investments2015-12-31$232
Income. Interest from US Government securities2015-12-31$0
Income. Interest from corporate debt instruments2015-12-31$0
Value of interest in common/collective trusts at end of year2015-12-31$1,239,160
Value of interest in common/collective trusts at beginning of year2015-12-31$1,336,317
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2015-12-31$0
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2015-12-31$17,893
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2015-12-31$23,492
Expenses. Payments to insurance carriers foe the provision of benefits2015-12-31$0
Net investment gain/loss from registered investment companies (e.g. mutual funds)2015-12-31$3,215
Net investment gain/loss from pooled separate accounts2015-12-31$1,540
Net investment gain or loss from common/collective trusts2015-12-31$-16,963
Net gain/loss from 103.12 investment entities2015-12-31$0
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 contributions2015-12-31Yes
Has the plan failed to provide any benefit when due under the plan2015-12-31No
Contributions received in cash from employer2015-12-31$26,334
Employer contributions (assets) at end of year2015-12-31$142
Employer contributions (assets) at beginning of year2015-12-31$0
Income. Dividends from preferred stock2015-12-31$0
Income. Dividends from common stock2015-12-31$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2015-12-31$319,444
Contract administrator fees2015-12-31$6,012
Liabilities. Value of benefit claims payable at beginning of year2015-12-31$0
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
Aggregate proceeds on sale of assets2015-12-31$0
Aggregate carrying amount (costs) on sale of assets2015-12-31$0
Liabilities. Value of acquisition indebtedness at beginning of year2015-12-31$0
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 plan2015-12-31Adverse
Accountancy firm name2015-12-31CLIFTONLARSONALLENLLP
Accountancy firm EIN2015-12-31410746749

Form 5500 Responses for SHARPNACK AUTO FAMILY 401(K) PROFIT SHARING PLAN

2016: SHARPNACK AUTO FAMILY 401(K) PROFIT SHARING PLAN 2016 form 5500 responses
2016-01-01Type of plan entitySingle employer plan
2016-01-01This submission is the final filingNo
2016-01-01This return/report is a short plan year return/report (less than 12 months)No
2016-01-01Plan is a collectively bargained planNo
2016-01-01Plan funding arrangement – InsuranceYes
2016-01-01Plan funding arrangement – TrustYes
2016-01-01Plan benefit arrangement – InsuranceYes
2016-01-01Plan benefit arrangement - TrustYes
2015: SHARPNACK AUTO FAMILY 401(K) PROFIT SHARING PLAN 2015 form 5500 responses
2015-01-01Type of plan entitySingle employer plan
2015-01-01Submission has been amendedYes
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 – InsuranceYes
2015-01-01Plan funding arrangement – TrustYes
2015-01-01Plan benefit arrangement – InsuranceYes
2015-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number613953
Policy instance 1
PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number524445
Policy instance 2

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