401k Plan data: AMERIFIRST 401(K) PLAN plan

AMERIFIRST 401(K) PLAN 401k Plan overview

Plan Name	AMERIFIRST 401(K) PLAN
Plan identification number	002

AMERIFIRST 401(K) PLAN Benefits

401k Plan Type

Defined 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.
Partial participant-directed account plan - Participants have the opportunity to direct the investment of a portion of 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.
Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
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.
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

AMERIFIRST HOME IMPROVEMENT FINANCE has sponsored the creation of one or more 401k plans.

Company Name: AMERIFIRST HOME IMPROVEMENT FINANCE

Employer identification number (EIN): 541522079

NAIC Classification: 522220
NAIC Description: Sales Financing

Form 5500 Filing Information

Submission information for form 5500 for 401k plan AMERIFIRST 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator Signed Name of Company Sponsor Date Sponsor Signed
002 2023-01-01
002 2022-01-01 DONALD KLUTHE 2023-10-12
002 2021-01-01
002 2020-01-01 MEGAN MCCLAREN 2021-07-27 MEGAN MCCLAREN 2021-07-27
002 2019-01-01 MEGAN MCCLAREN 2020-09-23 MEGAN MCCLAREN 2020-09-23
002 2016-01-01 MEGAN MCCLAREN 2017-07-24 MEGAN MCCLAREN 2017-07-24
002 2015-01-01 MEGAN MCCLAREN 2016-07-06 MEGAN MCCLAREN 2016-07-06
002 2014-01-01 MEGAN MCCLAREN MEGAN MCCLAREN 2015-07-22
002 2013-01-01 MEGAN MCCLAREN MEGAN MCCLAREN 2014-07-07
002 2012-01-01 MEGAN MCCLAREN MEGAN MCCLAREN 2013-07-23

Plan id#	Filing Submission Date	Name of Administrator	Date Administrator Signed	Name of Company Sponsor	Date Sponsor Signed
002	2023-01-01
002	2022-01-01	DONALD KLUTHE	2023-10-12
002	2021-01-01
002	2020-01-01	MEGAN MCCLAREN	2021-07-27	MEGAN MCCLAREN	2021-07-27
002	2019-01-01	MEGAN MCCLAREN	2020-09-23	MEGAN MCCLAREN	2020-09-23
002	2016-01-01	MEGAN MCCLAREN	2017-07-24	MEGAN MCCLAREN	2017-07-24
002	2015-01-01	MEGAN MCCLAREN	2016-07-06	MEGAN MCCLAREN	2016-07-06
002	2014-01-01	MEGAN MCCLAREN		MEGAN MCCLAREN	2015-07-22
002	2013-01-01	MEGAN MCCLAREN		MEGAN MCCLAREN	2014-07-07
002	2012-01-01	MEGAN MCCLAREN		MEGAN MCCLAREN	2013-07-23

Plan Statistics for AMERIFIRST 401(K) PLAN

401k plan membership statisitcs for AMERIFIRST 401(K) PLAN

Measure Date Value
2022: AMERIFIRST 401(K) PLAN 2022 401k membership
Total participants, beginning-of-year 2022-01-01 133
Total number of active participants reported on line 7a of the Form 5500 2022-01-01 42
Number of retired or separated participants receiving benefits 2022-01-01 0
Number of other retired or separated participants entitled to future benefits 2022-01-01 45
Total of all active and inactive participants 2022-01-01 87
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2022-01-01 0
Total participants 2022-01-01 87
Number of participants with account balances 2022-01-01 77
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2022-01-01 10
2014: AMERIFIRST 401(K) PLAN 2014 401k membership
Total participants, beginning-of-year 2014-01-01 49
Total number of active participants reported on line 7a of the Form 5500 2014-01-01 32
Number of retired or separated participants receiving benefits 2014-01-01 1
Number of other retired or separated participants entitled to future benefits 2014-01-01 12
Total of all active and inactive participants 2014-01-01 45
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2014-01-01 0
Total participants 2014-01-01 45
Number of participants with account balances 2014-01-01 41
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2014-01-01 0
2013: AMERIFIRST 401(K) PLAN 2013 401k membership
Total participants, beginning-of-year 2013-01-01 45
Total number of active participants reported on line 7a of the Form 5500 2013-01-01 30
Number of retired or separated participants receiving benefits 2013-01-01 1
Number of other retired or separated participants entitled to future benefits 2013-01-01 13
Total of all active and inactive participants 2013-01-01 44
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2013-01-01 0
Total participants 2013-01-01 44
Number of participants with account balances 2013-01-01 40
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2013-01-01 0
2012: AMERIFIRST 401(K) PLAN 2012 401k membership
Total participants, beginning-of-year 2012-01-01 49
Total number of active participants reported on line 7a of the Form 5500 2012-01-01 38
Number of retired or separated participants receiving benefits 2012-01-01 0
Number of other retired or separated participants entitled to future benefits 2012-01-01 17
Total of all active and inactive participants 2012-01-01 55
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2012-01-01 0
Total participants 2012-01-01 55
Number of participants with account balances 2012-01-01 50
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2012-01-01 1

Measure	Date	Value
2022: AMERIFIRST 401(K) PLAN 2022 401k membership
Total participants, beginning-of-year	2022-01-01	133
Total number of active participants reported on line 7a of the Form 5500	2022-01-01	42
Number of retired or separated participants receiving benefits	2022-01-01	0
Number of other retired or separated participants entitled to future benefits	2022-01-01	45
Total of all active and inactive participants	2022-01-01	87
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2022-01-01	0
Total participants	2022-01-01	87
Number of participants with account balances	2022-01-01	77
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2022-01-01	10
2014: AMERIFIRST 401(K) PLAN 2014 401k membership
Total participants, beginning-of-year	2014-01-01	49
Total number of active participants reported on line 7a of the Form 5500	2014-01-01	32
Number of retired or separated participants receiving benefits	2014-01-01	1
Number of other retired or separated participants entitled to future benefits	2014-01-01	12
Total of all active and inactive participants	2014-01-01	45
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2014-01-01	0
Total participants	2014-01-01	45
Number of participants with account balances	2014-01-01	41
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2014-01-01	0
2013: AMERIFIRST 401(K) PLAN 2013 401k membership
Total participants, beginning-of-year	2013-01-01	45
Total number of active participants reported on line 7a of the Form 5500	2013-01-01	30
Number of retired or separated participants receiving benefits	2013-01-01	1
Number of other retired or separated participants entitled to future benefits	2013-01-01	13
Total of all active and inactive participants	2013-01-01	44
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2013-01-01	0
Total participants	2013-01-01	44
Number of participants with account balances	2013-01-01	40
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2013-01-01	0
2012: AMERIFIRST 401(K) PLAN 2012 401k membership
Total participants, beginning-of-year	2012-01-01	49
Total number of active participants reported on line 7a of the Form 5500	2012-01-01	38
Number of retired or separated participants receiving benefits	2012-01-01	0
Number of other retired or separated participants entitled to future benefits	2012-01-01	17
Total of all active and inactive participants	2012-01-01	55
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2012-01-01	0
Total participants	2012-01-01	55
Number of participants with account balances	2012-01-01	50
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2012-01-01	1

Financial Data on AMERIFIRST 401(K) PLAN

Measure	Date	Value
2022 : AMERIFIRST 401(K) PLAN 2022 401k financial data
Total unrealized appreciation/depreciation of assets	2022-12-31	$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2022-12-31	$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2022-12-31	$0
Total income from all sources (including contributions)	2022-12-31	$-442,073
Total loss/gain on sale of assets	2022-12-31	$0
Total of all expenses incurred	2022-12-31	$690,780
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2022-12-31	$690,780
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2022-12-31	$376,676
Value of total assets at end of year	2022-12-31	$3,678,039
Value of total assets at beginning of year	2022-12-31	$4,810,892
Total of administrative expenses incurred including professional, contract, advisory and management fees	2022-12-31	$0
Total interest from all sources	2022-12-31	$2,569
Total dividends received (eg from common stock, registered investment company shares)	2022-12-31	$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2022-12-31	Yes
Value of any plan assets that reverted to the employer resulting from resoluton to terminate the plan	2022-12-31	$0
Was this plan covered by a fidelity bond	2022-12-31	Yes
Value of fidelity bond cover	2022-12-31	$1,000,000
If this is an individual account plan, was there a blackout period	2022-12-31	No
Were there any nonexempt tranactions with any party-in-interest	2022-12-31	No
Contributions received from participants	2022-12-31	$209,998
Participant contributions at end of year	2022-12-31	$0
Participant contributions at beginning of year	2022-12-31	$86
Income. Received or receivable in cash from other sources (including rollovers)	2022-12-31	$99,762
Assets. Loans (other than to participants) at end of year	2022-12-31	$60,163
Assets. Loans (other than to participants) at beginning of year	2022-12-31	$30,105
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2022-12-31	No
Value of net income/loss	2022-12-31	$-1,132,853
Value of net assets at end of year (total assets less liabilities)	2022-12-31	$3,678,039
Value of net assets at beginning of year (total assets less liabilities)	2022-12-31	$4,810,892
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2022-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2022-12-31	No
Were any leases to which the plan was party in default or uncollectible	2022-12-31	No
Value of interest in registered invesment companies (eg mutual funds) at end of year	2022-12-31	$3,546,429
Value of interest in registered invesment companies (eg mutual funds) at beginning of year	2022-12-31	$4,736,478
Interest on participant loans	2022-12-31	$2,569
Value of funds held in insurance company general accounts (unallocated contracts) at end of year	2022-12-31	$71,447
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year	2022-12-31	$43,257
Net investment gain/loss from registered investment companies (e.g. mutual funds)	2022-12-31	$-821,318
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2022-12-31	No
Was there a failure to transmit to the plan any participant contributions	2022-12-31	No
Has the plan failed to provide any benefit when due under the plan	2022-12-31	No
Contributions received in cash from employer	2022-12-31	$66,916
Employer contributions (assets) at end of year	2022-12-31	$0
Employer contributions (assets) at beginning of year	2022-12-31	$966
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2022-12-31	$690,780
Did the plan have assets held for investment	2022-12-31	Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser	2022-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2022-12-31	No
Opinion of an independent qualified public accountant for this plan	2022-12-31	Unqualified
Accountancy firm name	2022-12-31	RYAN + MANN LLC
Accountancy firm EIN	2022-12-31	921104525
2014 : AMERIFIRST 401(K) PLAN 2014 401k financial data
Total income from all sources	2014-12-31	$245,804
Expenses. Total of all expenses incurred	2014-12-31	$89,661
Benefits paid (including direct rollovers)	2014-12-31	$84,679
Total plan assets at end of year	2014-12-31	$2,325,459
Total plan assets at beginning of year	2014-12-31	$2,169,316
Value of fidelity bond covering the plan	2014-12-31	$300,000
Total contributions received or receivable from participants	2014-12-31	$103,867
Other income received	2014-12-31	$141,316
Net income (gross income less expenses)	2014-12-31	$156,143
Net plan assets at end of year (total assets less liabilities)	2014-12-31	$2,325,459
Net plan assets at beginning of year (total assets less liabilities)	2014-12-31	$2,169,316
Assets. Value of participant loans	2014-12-31	$32,697
Total contributions received or receivable from employer(s)	2014-12-31	$621
Value of corrective distributions	2014-12-31	$4,882
Expenses. Administrative service providers (salaries,fees and commissions)	2014-12-31	$100
2013 : AMERIFIRST 401(K) PLAN 2013 401k financial data
Transfers to/from the plan	2013-12-31	$3,386
Total income from all sources	2013-12-31	$550,383
Expenses. Total of all expenses incurred	2013-12-31	$272,424
Benefits paid (including direct rollovers)	2013-12-31	$272,324
Total plan assets at end of year	2013-12-31	$2,169,316
Total plan assets at beginning of year	2013-12-31	$1,887,971
Value of fidelity bond covering the plan	2013-12-31	$300,000
Total contributions received or receivable from participants	2013-12-31	$97,472
Expenses. Other expenses not covered elsewhere	2013-12-31	$100
Contributions received from other sources (not participants or employers)	2013-12-31	$16,504
Other income received	2013-12-31	$419,466
Net income (gross income less expenses)	2013-12-31	$277,959
Net plan assets at end of year (total assets less liabilities)	2013-12-31	$2,169,316
Net plan assets at beginning of year (total assets less liabilities)	2013-12-31	$1,887,971
Assets. Value of participant loans	2013-12-31	$32,564
Total contributions received or receivable from employer(s)	2013-12-31	$16,941
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2013-12-31	$0
2012 : AMERIFIRST 401(K) PLAN 2012 401k financial data
Total income from all sources	2012-12-31	$325,346
Expenses. Total of all expenses incurred	2012-12-31	$103,435
Benefits paid (including direct rollovers)	2012-12-31	$92,362
Total plan assets at end of year	2012-12-31	$1,887,971
Total plan assets at beginning of year	2012-12-31	$1,666,060
Value of fidelity bond covering the plan	2012-12-31	$300,000
Total contributions received or receivable from participants	2012-12-31	$106,823
Expenses. Other expenses not covered elsewhere	2012-12-31	$200
Other income received	2012-12-31	$215,151
Net income (gross income less expenses)	2012-12-31	$221,911
Net plan assets at end of year (total assets less liabilities)	2012-12-31	$1,887,971
Net plan assets at beginning of year (total assets less liabilities)	2012-12-31	$1,666,060
Assets. Value of participant loans	2012-12-31	$35,804
Total contributions received or receivable from employer(s)	2012-12-31	$3,372
Value of corrective distributions	2012-12-31	$10,873

Form 5500 Responses for AMERIFIRST 401(K) PLAN

2022: AMERIFIRST 401(K) PLAN 2022 form 5500 responses
2022-01-01	Type of plan entity	Single employer plan
2022-01-01	Submission has been amended	No
2022-01-01	This submission is the final filing	No
2022-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2022-01-01	Plan is a collectively bargained plan	No
2022-01-01	Plan funding arrangement – Insurance	Yes
2022-01-01	Plan benefit arrangement – Insurance	Yes
2022-01-01	Plan benefit arrangement - Trust	Yes
2014: AMERIFIRST 401(K) PLAN 2014 form 5500 responses
2014-01-01	Type of plan entity	Single employer plan
2014-01-01	Submission has been amended	No
2014-01-01	This submission is the final filing	No
2014-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2014-01-01	Plan is a collectively bargained plan	No
2014-01-01	Plan funding arrangement – Trust	Yes
2014-01-01	Plan benefit arrangement - Trust	Yes
2013: AMERIFIRST 401(K) PLAN 2013 form 5500 responses
2013-01-01	Type of plan entity	Single employer plan
2013-01-01	Submission has been amended	No
2013-01-01	This submission is the final filing	No
2013-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2013-01-01	Plan is a collectively bargained plan	No
2013-01-01	Plan funding arrangement – Trust	Yes
2013-01-01	Plan benefit arrangement - Trust	Yes
2012: AMERIFIRST 401(K) PLAN 2012 form 5500 responses
2012-01-01	Type of plan entity	Single employer plan
2012-01-01	Submission has been amended	No
2012-01-01	This submission is the final filing	No
2012-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2012-01-01	Plan is a collectively bargained plan	No
2012-01-01	Plan funding arrangement – Trust	Yes
2012-01-01	Plan benefit arrangement - Trust	Yes

Insurance Providers Used on plan

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 68322 )

Policy contract number

510880-01

Policy instance

Insurance contract or identification number	510880-01
Number of Individuals Covered	25
Insurance policy start date	2022-01-01
Insurance policy end date	2022-12-31
Total amount of commissions paid to insurance broker	USD $0
Total amount of fees paid to insurance company	USD $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 plan	No
Contracts With Unallocated Funds Deposit Administration	0
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 Benefit	No
Dental Insurance Welfare Benefit	No
Vision Insurance Welfare Benefit	No
Life Insurance Welfare Benefit	No
Temporary Disability Insurance Welfare Benefit	No
Long Term Disability Insurance Welfare Benefit	No
Unemployment Insurance Welfare Benefit	No
Were dividends or retroactive rate refunds paid in cash?	No
Were dividends or retroactive rate refunds paid as a credit?	No

Potentially related plans

AMERIFIRST 401(K) PLAN [EIN = 470486836]

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Company Name:	AMERIFIRST HOME IMPROVEMENT FINANCE
Employer identification number (EIN):	541522079
NAIC Classification:	522220
NAIC Description:	Sales Financing