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ASHOK PARMAR, M.D., INC. 401(K) PLAN 401k Plan overview

Plan NameASHOK PARMAR, M.D., INC. 401(K) PLAN
Plan identification number 001

ASHOK PARMAR, M.D., INC. 401(K) 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.
  • Participant-directed brokerage accounts provided as an investment option under the plan.
  • 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

ASHOK PARMAR, M.D., INC. has sponsored the creation of one or more 401k plans.

Company Name:ASHOK PARMAR, M.D., INC.
Employer identification number (EIN):711031193
NAIC Classification:621111
NAIC Description:Offices of Physicians (except Mental Health Specialists)

Form 5500 Filing Information

Submission information for form 5500 for 401k plan ASHOK PARMAR, M.D., INC. 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01ASHOK PARMAR2024-10-15 ASHOK PARMAR2024-10-15
0012022-01-01
0012021-01-01
0012020-01-01
0012019-01-01
0012018-01-01
0012017-01-01
0012016-01-01MARTHA GARCIA2017-08-15
0012015-01-01MARTHA GARCIA2016-10-13
0012014-01-01STEFANIE STRADER2015-09-09
0012013-01-01STEFANIE STRADER2014-06-16
0012012-01-01STEFANIE STRADER2014-03-27
0012011-01-01ASHOK PARMAR, M.D.2012-10-15 ASHOK PARMAR, M.D.2012-10-15
0012010-01-01ASHOK PARMAR, M.D.2011-10-03 ASHOK PARMAR, M.D.2011-10-03

Financial Data on ASHOK PARMAR, M.D., INC. 401(K) PLAN

Measure Date Value
2023 : ASHOK PARMAR, M.D., INC. 401(K) PLAN 2023 401k financial data
Total transfer of assets from this plan2023-12-31$0
Total income from all sources (including contributions)2023-12-31$958,813
Total loss/gain on sale of assets2023-12-31$0
Total of all expenses incurred2023-12-31$111,022
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2023-12-31$96,495
Total contributions o plan (from employers,participants, others, non cash contrinutions)2023-12-31$604,932
Value of total assets at end of year2023-12-31$3,234,012
Value of total assets at beginning of year2023-12-31$2,386,221
Total of administrative expenses incurred including professional, contract, advisory and management fees2023-12-31$14,527
Total interest from all sources2023-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2023-12-31No
Was this plan covered by a fidelity bond2023-12-31Yes
Value of fidelity bond cover2023-12-31$330,000
If this is an individual account plan, was there a blackout period2023-12-31No
Were there any nonexempt tranactions with any party-in-interest2023-12-31No
Contributions received from participants2023-12-31$99,464
Participant contributions at end of year2023-12-31$113,851
Participant contributions at beginning of year2023-12-31$64,874
Participant contributions at end of year2023-12-31$0
Participant contributions at beginning of year2023-12-31$0
Income. Received or receivable in cash from other sources (including rollovers)2023-12-31$0
Expenses. Other payments made (not to insurance carriers or or participants/beneficiaries)2023-12-31$0
Value of other receiveables (less allowance for doubtful accounts) at end of year2023-12-31$0
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2023-12-31$0
Administrative expenses (other) incurred2023-12-31$14,527
Total non interest bearing cash at end of year2023-12-31$0
Total non interest bearing cash at beginning of year2023-12-31$0
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2023-12-31No
Income. Non cash contributions2023-12-31$0
Value of net income/loss2023-12-31$847,791
Value of net assets at end of year (total assets less liabilities)2023-12-31$3,234,012
Value of net assets at beginning of year (total assets less liabilities)2023-12-31$2,386,221
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2023-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2023-12-31No
Were any leases to which the plan was party in default or uncollectible2023-12-31No
Assets. partnership/joint venture interests at beginning of year2023-12-31$0
Value of interest in registered invesment companies (eg mutual funds) at end of year2023-12-31$0
Value of interest in pooled separate accounts at end of year2023-12-31$2,565,655
Value of interest in pooled separate accounts at beginning of year2023-12-31$1,901,188
Interest on participant loans2023-12-31$0
Income. Interest from loans (other than to participants)2023-12-31$0
Interest earned on other investments2023-12-31$0
Income. Interest from US Government securities2023-12-31$0
Income. Interest from corporate debt instruments2023-12-31$0
Value of interest in master investment trust accounts at beginning of year2023-12-31$0
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2023-12-31$49,038
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2023-12-31$33,837
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2023-12-31$33,837
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2023-12-31$0
Expenses. Payments to insurance carriers foe the provision of benefits2023-12-31$0
Asset value of US Government securities at end of year2023-12-31$0
Net investment gain/loss from pooled separate accounts2023-12-31$353,881
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2023-12-31No
Was there a failure to transmit to the plan any participant contributions2023-12-31No
Has the plan failed to provide any benefit when due under the plan2023-12-31No
Contributions received in cash from employer2023-12-31$505,468
Employer contributions (assets) at end of year2023-12-31$505,468
Employer contributions (assets) at beginning of year2023-12-31$386,322
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2023-12-31$96,495
Asset. Corporate debt instrument preferred debt at beginning of year2023-12-31$0
Did the plan have assets held for investment2023-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2023-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2023-12-31No
Aggregate proceeds on sale of assets2023-12-31$0
Opinion of an independent qualified public accountant for this plan2023-12-31Unqualified
Accountancy firm name2023-12-31DANIELLS PHILLIPS VAUGHAN & BOCK
Accountancy firm EIN2023-12-31952972229
Total transfer of assets from this plan2023-01-01$0
Total income from all sources (including contributions)2023-01-01$958,813
Total loss/gain on sale of assets2023-01-01$0
Total of all expenses incurred2023-01-01$111,022
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2023-01-01$96,495
Total contributions o plan (from employers,participants, others, non cash contrinutions)2023-01-01$604,932
Value of total assets at end of year2023-01-01$3,234,012
Value of total assets at beginning of year2023-01-01$2,386,221
Total of administrative expenses incurred including professional, contract, advisory and management fees2023-01-01$14,527
Total interest from all sources2023-01-01$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2023-01-01No
Was this plan covered by a fidelity bond2023-01-01Yes
Value of fidelity bond cover2023-01-01$330,000
If this is an individual account plan, was there a blackout period2023-01-01No
Were there any nonexempt tranactions with any party-in-interest2023-01-01No
Contributions received from participants2023-01-01$99,464
Participant contributions at end of year2023-01-01$113,851
Participant contributions at beginning of year2023-01-01$64,874
Participant contributions at end of year2023-01-01$0
Participant contributions at beginning of year2023-01-01$0
Income. Received or receivable in cash from other sources (including rollovers)2023-01-01$0
Expenses. Other payments made (not to insurance carriers or or participants/beneficiaries)2023-01-01$0
Value of other receiveables (less allowance for doubtful accounts) at end of year2023-01-01$0
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2023-01-01$0
Administrative expenses (other) incurred2023-01-01$14,527
Total non interest bearing cash at end of year2023-01-01$0
Total non interest bearing cash at beginning of year2023-01-01$0
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2023-01-01No
Income. Non cash contributions2023-01-01$0
Value of net income/loss2023-01-01$847,791
Value of net assets at end of year (total assets less liabilities)2023-01-01$3,234,012
Value of net assets at beginning of year (total assets less liabilities)2023-01-01$2,386,221
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2023-01-01No
Were any loans by the plan or fixed income obligations due to the plan in default2023-01-01No
Were any leases to which the plan was party in default or uncollectible2023-01-01No
Assets. partnership/joint venture interests at beginning of year2023-01-01$0
Value of interest in registered invesment companies (eg mutual funds) at end of year2023-01-01$0
Value of interest in pooled separate accounts at end of year2023-01-01$2,565,655
Value of interest in pooled separate accounts at beginning of year2023-01-01$1,901,188
Interest on participant loans2023-01-01$0
Income. Interest from loans (other than to participants)2023-01-01$0
Interest earned on other investments2023-01-01$0
Income. Interest from US Government securities2023-01-01$0
Income. Interest from corporate debt instruments2023-01-01$0
Value of interest in master investment trust accounts at beginning of year2023-01-01$0
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2023-01-01$49,038
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2023-01-01$0
Expenses. Payments to insurance carriers foe the provision of benefits2023-01-01$0
Asset value of US Government securities at end of year2023-01-01$0
Net investment gain/loss from pooled separate accounts2023-01-01$353,881
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2023-01-01No
Was there a failure to transmit to the plan any participant contributions2023-01-01No
Has the plan failed to provide any benefit when due under the plan2023-01-01No
Contributions received in cash from employer2023-01-01$505,468
Employer contributions (assets) at end of year2023-01-01$505,468
Employer contributions (assets) at beginning of year2023-01-01$386,322
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2023-01-01$96,495
Asset. Corporate debt instrument preferred debt at beginning of year2023-01-01$0
Did the plan have assets held for investment2023-01-01Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2023-01-01No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2023-01-01No
Aggregate proceeds on sale of assets2023-01-01$0
Opinion of an independent qualified public accountant for this plan2023-01-011
Accountancy firm name2023-01-01DANIELLS PHILLIPS VAUGHAN & BOCK
Accountancy firm EIN2023-01-01952972229
2022 : ASHOK PARMAR, M.D., INC. 401(K) PLAN 2022 401k financial data
Total transfers to/from plan in this plan year2022-10-050
Total liabilities as of the end of the plan year2022-10-050
Total liabilities as of the beginning of the plan year2022-10-050
Total expenses incurred by plan in this plan year2022-10-0519696
Net assets as of the end of the plan year2022-10-052470421
Total assets as of the beginning of the plan year2022-10-051745436
Value of plan covered by a fidelity bond2022-10-05248000
Participant contributions to plan in this plan year2022-10-05111073
Value of participant loans at end of plan year2022-10-0516544
Other expenses paid from plan in this plan year2022-10-0510735
Other contributions to plan in this plan year2022-10-056258
Other income to plan in this plan year2022-10-05362514
Plan net income in this plan year2022-10-05724985
Net assets as of the end of the plan year2022-10-052470421
Net assets as of the beginning of the plan year2022-10-051745436
Employer contributions to plan in this plan year2022-10-05264836
Expensese paid to adminstrative service provicers from plan in this plan year2022-10-050

Form 5500 Responses for ASHOK PARMAR, M.D., INC. 401(K) PLAN

2023: ASHOK PARMAR, M.D., INC. 401(K) PLAN 2023 form 5500 responses
2023-01-01Type of plan entitySingle employer plan
2023-01-01Plan funding arrangement – InsuranceYes
2023-01-01Plan funding arrangement – TrustYes
2023-01-01Plan benefit arrangement – InsuranceYes
2023-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number531780
Policy instance 1
Insurance contract or identification number531780
Number of Individuals Covered212
Insurance policy start date2023-01-01
Insurance policy end date2023-12-31
Total amount of commissions paid to insurance brokerUSD $4,132
Total amount of fees paid to insurance companyUSD $413
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No

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