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CORAL INDUSTRIES, INC. PROFIT SHARING PLAN 401k Plan overview

Plan NameCORAL INDUSTRIES, INC. PROFIT SHARING PLAN
Plan identification number 001

CORAL INDUSTRIES, INC. PROFIT SHARING PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Profit-sharing
  • 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.
  • 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

CORAL INDUSTRIES, INC. has sponsored the creation of one or more 401k plans.

Company Name:CORAL INDUSTRIES, INC.
Employer identification number (EIN):630835726
NAIC Classification:327210

Form 5500 Filing Information

Submission information for form 5500 for 401k plan CORAL INDUSTRIES, INC. PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012010-01-01ERIC BILLINGS ERIC BILLINGS2011-08-22
0012009-01-01ERIC BILLINGS ERIC BILLINGS2010-10-11

Plan Statistics for CORAL INDUSTRIES, INC. PROFIT SHARING PLAN

401k plan membership statisitcs for CORAL INDUSTRIES, INC. PROFIT SHARING PLAN

Measure Date Value
2010: CORAL INDUSTRIES, INC. PROFIT SHARING PLAN 2010 401k membership
Total participants, beginning-of-year2010-01-01263
Total number of active participants reported on line 7a of the Form 55002010-01-010
Number of retired or separated participants receiving benefits2010-01-010
Number of other retired or separated participants entitled to future benefits2010-01-010
Total of all active and inactive participants2010-01-010
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2010-01-010
Total participants2010-01-010
Number of participants with account balances2010-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2010-01-010
2009: CORAL INDUSTRIES, INC. PROFIT SHARING PLAN 2009 401k membership
Total participants, beginning-of-year2009-01-01285
Total number of active participants reported on line 7a of the Form 55002009-01-01172
Number of retired or separated participants receiving benefits2009-01-0117
Number of other retired or separated participants entitled to future benefits2009-01-0173
Total of all active and inactive participants2009-01-01262
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2009-01-011
Total participants2009-01-01263
Number of participants with account balances2009-01-01263
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-01-0137

Financial Data on CORAL INDUSTRIES, INC. PROFIT SHARING PLAN

Measure Date Value
2010 : CORAL INDUSTRIES, INC. PROFIT SHARING PLAN 2010 401k financial data
Total unrealized appreciation/depreciation of assets2010-01-02$0
Total transfer of assets from this plan2010-01-02$1,118,287
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2010-01-02$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2010-01-02$0
Total income from all sources (including contributions)2010-01-02$0
Total loss/gain on sale of assets2010-01-02$0
Total of all expenses incurred2010-01-02$0
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2010-01-02$0
Total contributions o plan (from employers,participants, others, non cash contrinutions)2010-01-02$0
Value of total assets at end of year2010-01-02$0
Value of total assets at beginning of year2010-01-02$1,118,287
Total of administrative expenses incurred including professional, contract, advisory and management fees2010-01-02$0
Total interest from all sources2010-01-02$0
Total dividends received (eg from common stock, registered investment company shares)2010-01-02$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2010-01-02Yes
Value of any plan assets that reverted to the employer resulting from resoluton to terminate the plan2010-01-02$0
Was this plan covered by a fidelity bond2010-01-02Yes
Value of fidelity bond cover2010-01-02$100,000
If this is an individual account plan, was there a blackout period2010-01-02No
Were there any nonexempt tranactions with any party-in-interest2010-01-02No
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2010-01-02$1,206
Total non interest bearing cash at beginning of year2010-01-02$42,853
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2010-01-02No
Value of net income/loss2010-01-02$0
Value of net assets at end of year (total assets less liabilities)2010-01-02$0
Value of net assets at beginning of year (total assets less liabilities)2010-01-02$1,118,287
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2010-01-02No
Were any loans by the plan or fixed income obligations due to the plan in default2010-01-02No
Were any leases to which the plan was party in default or uncollectible2010-01-02No
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2010-01-02$1,074,228
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2010-01-02No
Was there a failure to transmit to the plan any participant contributions2010-01-02No
Has the plan failed to provide any benefit when due under the plan2010-01-02No
Did the plan have assets held for investment2010-01-02No
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2010-01-02No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2010-01-02Yes
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2010-01-02Yes
Opinion of an independent qualified public accountant for this plan2010-01-02Disclaimer
Accountancy firm name2010-01-02T. E. LOTT & COMPANY
Accountancy firm EIN2010-01-02640575804

Form 5500 Responses for CORAL INDUSTRIES, INC. PROFIT SHARING PLAN

2010: CORAL INDUSTRIES, INC. 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 filingYes
2010-01-01This return/report is a short plan year return/report (less than 12 months)Yes
2010-01-01Plan is a collectively bargained planNo
2010-01-01Plan funding arrangement – TrustYes
2010-01-01Plan benefit arrangement - TrustYes
2009: CORAL INDUSTRIES, INC. PROFIT SHARING PLAN 2009 form 5500 responses
2009-01-01Type of plan entitySingle employer plan
2009-01-01Submission has been amendedNo
2009-01-01This submission is the final filingNo
2009-01-01This return/report is a short plan year return/report (less than 12 months)No
2009-01-01Plan is a collectively bargained planNo
2009-01-01Plan funding arrangement – TrustYes
2009-01-01Plan benefit arrangement - TrustYes

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