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BEST EQUIPMENT CO. INC. 401K PROFIT SHARING PLAN 401k Plan overview

Plan NameBEST EQUIPMENT CO. INC. 401K PROFIT SHARING PLAN
Plan identification number 001

BEST EQUIPMENT CO. INC. 401K 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

BEST EQUIPMENT CO. INC. has sponsored the creation of one or more 401k plans.

Company Name:BEST EQUIPMENT CO. INC.
Employer identification number (EIN):351097778
NAIC Classification:423400

Form 5500 Filing Information

Submission information for form 5500 for 401k plan BEST EQUIPMENT CO. INC. 401K PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012024-01-01MARIA DAHLMANN
0012023-01-01
0012023-01-01ROBERT SCHAFFNER
0012022-01-01
0012022-01-01MARIA DAHLMANN
0012021-01-01
0012021-01-01MARIA DAHLMANN
0012020-01-01
0012019-01-01
0012018-01-01MICHAEL DAHLMANN2019-06-10
0012017-01-01MICHAEL DAHLMANN2018-05-16
0012016-01-01MICHAEL DAHLMANN2017-07-25
0012015-01-01MICHAEL DAHLMANN2016-07-06
0012015-01-01MICHAEL DAHLMANN2019-06-10
0012015-01-01MICHAEL DAHLMANN2016-07-01
0012014-01-01MICHAEL DAHLMANN2015-05-13 MICHAEL DAHLMANN2015-05-13
0012013-01-01MICHAEL DAHLMANN2014-07-07 MICHAEL DAHLMANN2014-07-07
0012012-01-01MICHAEL DAHLMANN2013-05-31 MICHAEL DAHLMANN2013-05-31
0012011-01-01MICHAEL DAHLMANN2012-06-26 MICHAEL DAHLMANN2012-06-26
0012010-01-01MICHAEL DAHLMANN2011-08-15 MICHAEL DAHLMANN2011-08-15

Financial Data on BEST EQUIPMENT CO. INC. 401K PROFIT SHARING PLAN

Measure Date Value
2024 : BEST EQUIPMENT CO. INC. 401K PROFIT SHARING PLAN 2024 401k financial data
Transfers to/from the plan2024-01-01$0
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$1,744,536
Expenses. Total of all expenses incurred2024-01-01$266,896
Benefits paid (including direct rollovers)2024-01-01$222,039
Total plan assets at end of year2024-01-01$9,510,169
Total plan assets at beginning of year2024-01-01$8,032,529
Value of fidelity bond covering the plan2024-01-01$500,000
Assets. Value of tangible personal property2024-01-01$0
Total contributions received or receivable from participants2024-01-01$519,646
Assets. Value of loans (other than to participants)2024-01-01$0
Expenses. Other expenses not covered elsewhere2024-01-01$0
Contributions received from other sources (not participants or employers)2024-01-01$0
Other income received2024-01-01$982,595
Noncash contributions received2024-01-01$0
Net income (gross income less expenses)2024-01-01$1,477,640
Net plan assets at end of year (total assets less liabilities)2024-01-01$9,510,169
Net plan assets at beginning of year (total assets less liabilities)2024-01-01$8,032,529
Assets. Value of participant loans2024-01-01$0
Assets. Value of assets in partnership/joint-venture interests2024-01-01$0
Assets. Value of real-estate (other than employer real property)2024-01-01$0
Assets. Value of employer securities2024-01-01$0
Assets. Value of employer real property2024-01-01$0
Total contributions received or receivable from employer(s)2024-01-01$242,295
Value of certain deemed distributions of participant loans2024-01-01$0
Value of corrective distributions2024-01-01$0
Expenses. Administrative service providers (salaries,fees and commissions)2024-01-01$44,857
2023 : BEST EQUIPMENT CO. INC. 401K PROFIT SHARING PLAN 2023 401k financial data
Transfers to/from the plan2023-12-31$0
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$2,088,018
Expenses. Total of all expenses incurred2023-12-31$363,136
Benefits paid (including direct rollovers)2023-12-31$326,358
Total plan assets at end of year2023-12-31$8,032,529
Total plan assets at beginning of year2023-12-31$6,307,647
Value of fidelity bond covering the plan2023-12-31$500,000
Assets. Value of tangible personal property2023-12-31$0
Total contributions received or receivable from participants2023-12-31$456,388
Assets. Value of loans (other than to participants)2023-12-31$0
Expenses. Other expenses not covered elsewhere2023-12-31$0
Contributions received from other sources (not participants or employers)2023-12-31$259,669
Other income received2023-12-31$1,161,919
Noncash contributions received2023-12-31$0
Net income (gross income less expenses)2023-12-31$1,724,882
Net plan assets at end of year (total assets less liabilities)2023-12-31$8,032,529
Net plan assets at beginning of year (total assets less liabilities)2023-12-31$6,307,647
Assets. Value of participant loans2023-12-31$0
Assets. Value of assets in partnership/joint-venture interests2023-12-31$0
Assets. Value of real-estate (other than employer real property)2023-12-31$0
Assets. Value of employer securities2023-12-31$0
Assets. Value of employer real property2023-12-31$0
Total contributions received or receivable from employer(s)2023-12-31$210,042
Value of certain deemed distributions of participant loans2023-12-31$0
Value of corrective distributions2023-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2023-12-31$36,778
2022 : BEST EQUIPMENT CO. INC. 401K PROFIT SHARING PLAN 2022 401k financial data
Transfers to/from the plan2022-12-31$0
Total plan liabilities at end of year2022-12-31$0
Total plan liabilities at beginning of year2022-12-31$0
Total income from all sources2022-12-31$-492,851
Expenses. Total of all expenses incurred2022-12-31$37,678
Benefits paid (including direct rollovers)2022-12-31$3,100
Total plan assets at end of year2022-12-31$6,307,647
Total plan assets at beginning of year2022-12-31$6,838,176
Value of fidelity bond covering the plan2022-12-31$500,000
Assets. Value of tangible personal property2022-12-31$0
Total contributions received or receivable from participants2022-12-31$392,573
Assets. Value of loans (other than to participants)2022-12-31$0
Expenses. Other expenses not covered elsewhere2022-12-31$0
Contributions received from other sources (not participants or employers)2022-12-31$116,818
Other income received2022-12-31$-1,181,511
Noncash contributions received2022-12-31$0
Net income (gross income less expenses)2022-12-31$-530,529
Net plan assets at end of year (total assets less liabilities)2022-12-31$6,307,647
Net plan assets at beginning of year (total assets less liabilities)2022-12-31$6,838,176
Assets. Value of participant loans2022-12-31$0
Assets. Value of assets in partnership/joint-venture interests2022-12-31$0
Assets. Value of real-estate (other than employer real property)2022-12-31$0
Assets. Value of employer securities2022-12-31$0
Assets. Value of employer real property2022-12-31$0
Total contributions received or receivable from employer(s)2022-12-31$179,269
Value of certain deemed distributions of participant loans2022-12-31$0
Value of corrective distributions2022-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2022-12-31$34,578
2021 : BEST EQUIPMENT CO. INC. 401K PROFIT SHARING PLAN 2021 401k financial data
Transfers to/from the plan2021-12-31$0
Total plan liabilities at end of year2021-12-31$0
Total plan liabilities at beginning of year2021-12-31$0
Total income from all sources2021-12-31$1,240,194
Expenses. Total of all expenses incurred2021-12-31$57,758
Benefits paid (including direct rollovers)2021-12-31$23,744
Total plan assets at end of year2021-12-31$6,838,176
Total plan assets at beginning of year2021-12-31$5,655,740
Value of fidelity bond covering the plan2021-12-31$500,000
Assets. Value of tangible personal property2021-12-31$0
Total contributions received or receivable from participants2021-12-31$308,074
Assets. Value of loans (other than to participants)2021-12-31$0
Expenses. Other expenses not covered elsewhere2021-12-31$0
Contributions received from other sources (not participants or employers)2021-12-31$38,003
Other income received2021-12-31$742,155
Noncash contributions received2021-12-31$0
Net income (gross income less expenses)2021-12-31$1,182,436
Net plan assets at end of year (total assets less liabilities)2021-12-31$6,838,176
Net plan assets at beginning of year (total assets less liabilities)2021-12-31$5,655,740
Assets. Value of participant loans2021-12-31$0
Assets. Value of assets in partnership/joint-venture interests2021-12-31$0
Assets. Value of real-estate (other than employer real property)2021-12-31$0
Assets. Value of employer securities2021-12-31$0
Assets. Value of employer real property2021-12-31$0
Total contributions received or receivable from employer(s)2021-12-31$151,962
Value of certain deemed distributions of participant loans2021-12-31$0
Value of corrective distributions2021-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2021-12-31$34,014
2020 : BEST EQUIPMENT CO. INC. 401K PROFIT SHARING PLAN 2020 401k financial data
Transfers to/from the plan2020-12-31$0
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$1,624,165
Expenses. Total of all expenses incurred2020-12-31$120,509
Benefits paid (including direct rollovers)2020-12-31$99,060
Total plan assets at end of year2020-12-31$5,655,740
Total plan assets at beginning of year2020-12-31$4,152,084
Value of fidelity bond covering the plan2020-12-31$500,000
Total contributions received or receivable from participants2020-12-31$298,969
Expenses. Other expenses not covered elsewhere2020-12-31$0
Contributions received from other sources (not participants or employers)2020-12-31$483,574
Other income received2020-12-31$724,643
Noncash contributions received2020-12-31$0
Net income (gross income less expenses)2020-12-31$1,503,656
Net plan assets at end of year (total assets less liabilities)2020-12-31$5,655,740
Net plan assets at beginning of year (total assets less liabilities)2020-12-31$4,152,084
Total contributions received or receivable from employer(s)2020-12-31$116,979
Value of certain deemed distributions of participant loans2020-12-31$0
Value of corrective distributions2020-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2020-12-31$21,449
2019 : BEST EQUIPMENT CO. INC. 401K PROFIT SHARING PLAN 2019 401k financial data
Transfers to/from the plan2019-12-31$0
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$1,069,111
Expenses. Total of all expenses incurred2019-12-31$32,156
Benefits paid (including direct rollovers)2019-12-31$31,976
Total plan assets at end of year2019-12-31$4,152,084
Total plan assets at beginning of year2019-12-31$3,115,129
Value of fidelity bond covering the plan2019-12-31$350,000
Total contributions received or receivable from participants2019-12-31$250,742
Expenses. Other expenses not covered elsewhere2019-12-31$0
Contributions received from other sources (not participants or employers)2019-12-31$0
Other income received2019-12-31$722,143
Noncash contributions received2019-12-31$0
Net income (gross income less expenses)2019-12-31$1,036,955
Net plan assets at end of year (total assets less liabilities)2019-12-31$4,152,084
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$3,115,129
Total contributions received or receivable from employer(s)2019-12-31$96,226
Value of certain deemed distributions of participant loans2019-12-31$0
Value of corrective distributions2019-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2019-12-31$180

Form 5500 Responses for BEST EQUIPMENT CO. INC. 401K PROFIT SHARING PLAN

2023: BEST EQUIPMENT CO. INC. 401K PROFIT SHARING PLAN 2023 form 5500 responses
2023-01-01Type of plan entitySingle employer plan
2023-01-01This submission is the final filingNo
2023-01-01Plan is a collectively bargained planNo
2023-01-01Plan funding arrangement – TrustYes
2023-01-01Plan benefit arrangement - TrustYes
2022: BEST EQUIPMENT CO. INC. 401K PROFIT SHARING PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01This submission is the final filingNo
2022-01-01Plan is a collectively bargained planNo
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement - TrustYes
2021: BEST EQUIPMENT CO. INC. 401K PROFIT SHARING PLAN 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01This submission is the final filingNo
2021-01-01Plan is a collectively bargained planNo
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement - TrustYes
2020: BEST EQUIPMENT CO. INC. 401K PROFIT SHARING PLAN 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
2020-01-01This submission is the final filingNo
2020-01-01Plan is a collectively bargained planNo
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement - TrustYes
2019: BEST EQUIPMENT CO. INC. 401K PROFIT SHARING PLAN 2019 form 5500 responses
2019-01-01Type of plan entitySingle employer plan
2019-01-01Submission has been amendedNo
2019-01-01This submission is the final filingNo
2019-01-01This return/report is a short plan year return/report (less than 12 months)No
2019-01-01Plan is a collectively bargained planNo
2019-01-01Plan funding arrangement – InsuranceYes
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement – InsuranceYes
2019-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

AMERICAN UNITED LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 60895 )
Policy contract numberG35494
Policy instance 1

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