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FIRST DIRECT LENDING 401(K) AND PROFIT SHARING PLAN 401k Plan overview

Plan NameFIRST DIRECT LENDING 401(K) AND PROFIT SHARING PLAN
Plan identification number 001

FIRST DIRECT LENDING 401(K) AND PROFIT SHARING PLAN Benefits

401k Plan TypeDefined 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.
  • Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
  • Plan covering Self-Employed individuals.
  • 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

FIRST DIRECT LENDING, LLC has sponsored the creation of one or more 401k plans.

Company Name:FIRST DIRECT LENDING, LLC
Employer identification number (EIN):462749358
NAIC Classification:522292
NAIC Description:Real Estate Credit

Additional information about FIRST DIRECT LENDING, LLC

Jurisdiction of Incorporation: Texas Secretary of State
Incorporation Date: 2014-11-19
Company Identification Number: 0802104137
Legal Registered Office Address: 16775 ADDISON RD STE 310

ADDISON
United States of America (USA)
75001

More information about FIRST DIRECT LENDING, LLC

Form 5500 Filing Information

Submission information for form 5500 for 401k plan FIRST DIRECT LENDING 401(K) AND PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012018-01-01ROY WRIGHT ROY WRIGHT2019-06-14
0012017-01-01ROY WRIGHT ROY WRIGHT2018-10-12
0012016-01-01ROY WRIGHT ROY WRIGHT2017-10-16
0012015-01-01ROY WRIGHT2016-07-15 FIRST DIRECT LENDING2016-07-15
0012014-01-01ROY A. WRIGHT2015-06-03 ROY A. WRIGHT2015-06-03

Plan Statistics for FIRST DIRECT LENDING 401(K) AND PROFIT SHARING PLAN

401k plan membership statisitcs for FIRST DIRECT LENDING 401(K) AND PROFIT SHARING PLAN

Measure Date Value
2018: FIRST DIRECT LENDING 401(K) AND PROFIT SHARING PLAN 2018 401k membership
Total participants, beginning-of-year2018-01-01344
Total number of active participants reported on line 7a of the Form 55002018-01-010
Number of retired or separated participants receiving benefits2018-01-010
Number of other retired or separated participants entitled to future benefits2018-01-010
Total of all active and inactive participants2018-01-010
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2018-01-010
Total participants2018-01-010
Number of participants with account balances2018-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2018-01-0176
2017: FIRST DIRECT LENDING 401(K) AND PROFIT SHARING PLAN 2017 401k membership
Total participants, beginning-of-year2017-01-01306
Total number of active participants reported on line 7a of the Form 55002017-01-01288
Number of retired or separated participants receiving benefits2017-01-010
Number of other retired or separated participants entitled to future benefits2017-01-0154
Total of all active and inactive participants2017-01-01342
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2017-01-010
Total participants2017-01-01342
Number of participants with account balances2017-01-01295
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2017-01-01186
2016: FIRST DIRECT LENDING 401(K) AND PROFIT SHARING PLAN 2016 401k membership
Total participants, beginning-of-year2016-01-01162
Total number of active participants reported on line 7a of the Form 55002016-01-01266
Number of retired or separated participants receiving benefits2016-01-010
Number of other retired or separated participants entitled to future benefits2016-01-0122
Total of all active and inactive participants2016-01-01288
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2016-01-010
Total participants2016-01-01288
Number of participants with account balances2016-01-0198
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2016-01-010

Financial Data on FIRST DIRECT LENDING 401(K) AND PROFIT SHARING PLAN

Measure Date Value
2018 : FIRST DIRECT LENDING 401(K) AND PROFIT SHARING PLAN 2018 401k financial data
Total unrealized appreciation/depreciation of assets2018-10-23$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2018-10-23$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2018-10-23$0
Total income from all sources (including contributions)2018-10-23$460,330
Total loss/gain on sale of assets2018-10-23$0
Total of all expenses incurred2018-10-23$2,669,086
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2018-10-23$2,621,950
Expenses. Certain deemed distributions of participant loans2018-10-23$0
Value of total corrective distributions2018-10-23$730
Total contributions o plan (from employers,participants, others, non cash contrinutions)2018-10-23$355,698
Value of total assets at end of year2018-10-23$0
Value of total assets at beginning of year2018-10-23$2,208,756
Total of administrative expenses incurred including professional, contract, advisory and management fees2018-10-23$46,406
Total interest from all sources2018-10-23$3,803
Total dividends received (eg from common stock, registered investment company shares)2018-10-23$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2018-10-23Yes
Value of any plan assets that reverted to the employer resulting from resoluton to terminate the plan2018-10-23$0
Administrative expenses professional fees incurred2018-10-23$18,268
Was this plan covered by a fidelity bond2018-10-23Yes
Value of fidelity bond cover2018-10-23$500,000
If this is an individual account plan, was there a blackout period2018-10-23No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2018-10-23$0
Were there any nonexempt tranactions with any party-in-interest2018-10-23No
Contributions received from participants2018-10-23$308,897
Participant contributions at end of year2018-10-23$0
Participant contributions at beginning of year2018-10-23$87,003
Income. Received or receivable in cash from other sources (including rollovers)2018-10-23$0
Other income not declared elsewhere2018-10-23$0
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2018-10-23No
Value of net income/loss2018-10-23$-2,208,756
Value of net assets at end of year (total assets less liabilities)2018-10-23$0
Value of net assets at beginning of year (total assets less liabilities)2018-10-23$2,208,756
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2018-10-23No
Were any loans by the plan or fixed income obligations due to the plan in default2018-10-23No
Were any leases to which the plan was party in default or uncollectible2018-10-23No
Value of interest in pooled separate accounts at end of year2018-10-23$0
Value of interest in pooled separate accounts at beginning of year2018-10-23$2,102,222
Interest on participant loans2018-10-23$3,651
Interest earned on other investments2018-10-23$152
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2018-10-23$0
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2018-10-23$19,531
Expenses. Payments to insurance carriers foe the provision of benefits2018-10-23$0
Net investment gain/loss from pooled separate accounts2018-10-23$100,829
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2018-10-23No
Was there a failure to transmit to the plan any participant contributions2018-10-23No
Has the plan failed to provide any benefit when due under the plan2018-10-23No
Contributions received in cash from employer2018-10-23$46,801
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2018-10-23$2,621,950
Contract administrator fees2018-10-23$28,138
Did the plan have assets held for investment2018-10-23No
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2018-10-23No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2018-10-23No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2018-10-23Yes
Opinion of an independent qualified public accountant for this plan2018-10-23Disclaimer
Accountancy firm name2018-10-23KIECKHAFER SCHIFFER LLP
Accountancy firm EIN2018-10-23815052000
2017 : FIRST DIRECT LENDING 401(K) AND PROFIT SHARING PLAN 2017 401k financial data
Total unrealized appreciation/depreciation of assets2017-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2017-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2017-12-31$0
Total income from all sources (including contributions)2017-12-31$1,595,695
Total loss/gain on sale of assets2017-12-31$0
Total of all expenses incurred2017-12-31$183,454
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2017-12-31$164,273
Total contributions o plan (from employers,participants, others, non cash contrinutions)2017-12-31$1,329,724
Value of total assets at end of year2017-12-31$2,208,756
Value of total assets at beginning of year2017-12-31$796,515
Total of administrative expenses incurred including professional, contract, advisory and management fees2017-12-31$19,181
Total interest from all sources2017-12-31$3,634
Total dividends received (eg from common stock, registered investment company shares)2017-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2017-12-31No
Was this plan covered by a fidelity bond2017-12-31Yes
Value of fidelity bond cover2017-12-31$500,000
If this is an individual account plan, was there a blackout period2017-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2017-12-31$0
Were there any nonexempt tranactions with any party-in-interest2017-12-31No
Contributions received from participants2017-12-31$885,884
Participant contributions at end of year2017-12-31$87,003
Participant contributions at beginning of year2017-12-31$33,223
Income. Received or receivable in cash from other sources (including rollovers)2017-12-31$229,732
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2017-12-31No
Value of net income/loss2017-12-31$1,412,241
Value of net assets at end of year (total assets less liabilities)2017-12-31$2,208,756
Value of net assets at beginning of year (total assets less liabilities)2017-12-31$796,515
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2017-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2017-12-31No
Were any leases to which the plan was party in default or uncollectible2017-12-31No
Value of interest in pooled separate accounts at end of year2017-12-31$2,102,222
Value of interest in pooled separate accounts at beginning of year2017-12-31$759,482
Interest on participant loans2017-12-31$3,566
Interest earned on other investments2017-12-31$68
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2017-12-31$19,531
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2017-12-31$3,810
Net investment gain/loss from pooled separate accounts2017-12-31$262,337
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2017-12-31No
Was there a failure to transmit to the plan any participant contributions2017-12-31No
Has the plan failed to provide any benefit when due under the plan2017-12-31No
Contributions received in cash from employer2017-12-31$214,108
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2017-12-31$164,273
Contract administrator fees2017-12-31$19,181
Did the plan have assets held for investment2017-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2017-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2017-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2017-12-31Yes
Opinion of an independent qualified public accountant for this plan2017-12-31Disclaimer
Accountancy firm name2017-12-31KIECKHAFER SCHIFFER LLP
Accountancy firm EIN2017-12-31815052000
2016 : FIRST DIRECT LENDING 401(K) AND PROFIT SHARING PLAN 2016 401k financial data
Total unrealized appreciation/depreciation of assets2016-12-31$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
Total income from all sources (including contributions)2016-12-31$501,003
Total loss/gain on sale of assets2016-12-31$0
Total of all expenses incurred2016-12-31$52,275
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2016-12-31$49,683
Total contributions o plan (from employers,participants, others, non cash contrinutions)2016-12-31$449,341
Value of total assets at end of year2016-12-31$796,515
Value of total assets at beginning of year2016-12-31$347,787
Total of administrative expenses incurred including professional, contract, advisory and management fees2016-12-31$2,592
Total interest from all sources2016-12-31$1,299
Total dividends received (eg from common stock, registered investment company shares)2016-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2016-12-31No
Was this plan covered by a fidelity bond2016-12-31Yes
Value of fidelity bond cover2016-12-31$75,000
If this is an individual account plan, was there a blackout period2016-12-31No
Were there any nonexempt tranactions with any party-in-interest2016-12-31No
Contributions received from participants2016-12-31$281,115
Participant contributions at end of year2016-12-31$33,223
Participant contributions at beginning of year2016-12-31$21,585
Income. Received or receivable in cash from other sources (including rollovers)2016-12-31$168,226
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
Value of net income/loss2016-12-31$448,728
Value of net assets at end of year (total assets less liabilities)2016-12-31$796,515
Value of net assets at beginning of year (total assets less liabilities)2016-12-31$347,787
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
Were any leases to which the plan was party in default or uncollectible2016-12-31No
Value of interest in pooled separate accounts at end of year2016-12-31$759,482
Value of interest in pooled separate accounts at beginning of year2016-12-31$324,611
Interest on participant loans2016-12-31$1,263
Interest earned on other investments2016-12-31$36
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2016-12-31$3,810
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2016-12-31$1,591
Net investment gain/loss from pooled separate accounts2016-12-31$50,363
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 contributions2016-12-31No
Has the plan failed to provide any benefit when due under the plan2016-12-31No
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2016-12-31$49,683
Contract administrator fees2016-12-31$2,592
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
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 name2016-12-31KIECKHAFER SCHIFFER & COMPANY LLP.
Accountancy firm EIN2016-12-31330688321

Form 5500 Responses for FIRST DIRECT LENDING 401(K) AND PROFIT SHARING PLAN

2018: FIRST DIRECT LENDING 401(K) AND PROFIT SHARING PLAN 2018 form 5500 responses
2018-01-01Type of plan entitySingle employer plan
2018-01-01Submission has been amendedNo
2018-01-01This submission is the final filingYes
2018-01-01This return/report is a short plan year return/report (less than 12 months)Yes
2018-01-01Plan is a collectively bargained planNo
2018-01-01Plan funding arrangement – InsuranceYes
2018-01-01Plan funding arrangement – TrustYes
2018-01-01Plan benefit arrangement – InsuranceYes
2018-01-01Plan benefit arrangement - TrustYes
2017: FIRST DIRECT LENDING 401(K) AND PROFIT SHARING PLAN 2017 form 5500 responses
2017-01-01Type of plan entitySingle employer plan
2017-01-01Submission has been amendedNo
2017-01-01This submission is the final filingNo
2017-01-01This return/report is a short plan year return/report (less than 12 months)No
2017-01-01Plan is a collectively bargained planNo
2017-01-01Plan funding arrangement – InsuranceYes
2017-01-01Plan funding arrangement – TrustYes
2017-01-01Plan benefit arrangement – InsuranceYes
2017-01-01Plan benefit arrangement - TrustYes
2016: FIRST DIRECT LENDING 401(K) AND PROFIT SHARING PLAN 2016 form 5500 responses
2016-01-01Type of plan entitySingle employer plan
2016-01-01Submission has been amendedNo
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

Insurance Providers Used on plan

MINNESOTA LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 66168 )
Policy contract number068388
Policy instance 1
Insurance contract or identification number068388
Number of Individuals Covered0
Insurance policy start date2018-01-01
Insurance policy end date2018-12-31
Total amount of commissions paid to insurance brokerUSD $4,289
Total amount of fees paid to insurance companyUSD $0
Are there contracts with allocated funds for individual policies?0
Are there contracts with allocated funds for group deferred annuity?No
Are there contracts with allocated funds for types other than group deferred annuity or individual?No
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Contracts With Unallocated Funds Deposit Administration0
Are there contracts with unallocated funds for contracts of type immediate participation guarantee?No
Are there contracts with unallocated funds for contracts of type guaranteed investment?No
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Health Insurance Welfare BenefitNo
Dental Insurance Welfare BenefitNo
Vision Insurance Welfare BenefitNo
Life Insurance Welfare BenefitNo
Temporary Disability Insurance Welfare BenefitNo
Long Term Disability Insurance Welfare BenefitNo
Unemployment Insurance Welfare BenefitNo
Were dividends or retroactive rate refunds paid in cash?No
Were dividends or retroactive rate refunds paid as a credit?No
Commission paid to Insurance BrokerUSD $4,289
Insurance broker organization code?3
MINNESOTA LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 66168 )
Policy contract number067844
Policy instance 1
Insurance contract or identification number067844
Number of Individuals Covered325
Insurance policy start date2017-01-01
Insurance policy end date2017-12-31
Total amount of commissions paid to insurance brokerUSD $5,900
Total amount of fees paid to insurance companyUSD $0
Are there contracts with allocated funds for individual policies?0
Are there contracts with allocated funds for group deferred annuity?No
Are there contracts with allocated funds for types other than group deferred annuity or individual?No
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Contracts With Unallocated Funds Deposit Administration0
Are there contracts with unallocated funds for contracts of type immediate participation guarantee?No
Are there contracts with unallocated funds for contracts of type guaranteed investment?No
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Health Insurance Welfare BenefitNo
Dental Insurance Welfare BenefitNo
Vision Insurance Welfare BenefitNo
Life Insurance Welfare BenefitNo
Temporary Disability Insurance Welfare BenefitNo
Long Term Disability Insurance Welfare BenefitNo
Unemployment Insurance Welfare BenefitNo
Were dividends or retroactive rate refunds paid in cash?No
Were dividends or retroactive rate refunds paid as a credit?No
Commission paid to Insurance BrokerUSD $5,900
Additional information about fees paid to insurance brokerN/A
Insurance broker organization code?3
Insurance broker nameSECURIAN FINANCIAL SERVICES

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