401k Plan data: VELACORP LTD 401(K) PROFIT SHARING PLAN plan

VELACORP LTD 401(K) PROFIT SHARING PLAN 401k Plan overview

Plan Name	VELACORP LTD 401(K) PROFIT SHARING PLAN
Plan identification number	002

VELACORP LTD 401(K) PROFIT SHARING PLAN Benefits

401k Plan Type

Defined 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

VELACORP CONSOLIDATED has sponsored the creation of one or more 401k plans.

Company Name: VELACORP CONSOLIDATED

Employer identification number (EIN): 742276250

NAIC Classification: 446110
NAIC Description: Pharmacies and Drug Stores

Form 5500 Filing Information

Submission information for form 5500 for 401k plan VELACORP LTD 401(K) PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator Signed Name of Company Sponsor Date Sponsor Signed
002 2023-01-01 DANIEL D VELA 2024-06-05
002 2022-01-01 DANIEL VELA 2023-08-11
002 2021-01-01 DANIEL VELA 2022-07-18
002 2020-01-01 DANIEL VELA 2021-05-11
002 2019-01-01 DANIEL VELA 2020-05-15
002 2018-01-01 DANIEL VELA 2019-06-06
002 2017-01-01 DANIEL VELA 2018-05-11
002 2016-01-01 DANIEL VELA
002 2015-01-01 DANIEL D VELA DANIEL D VELA 2016-10-12
002 2014-01-01 DANIEL D VELA 2015-05-14
002 2013-01-01 DANIEL D VELA 2014-06-11 DANIEL D VELA 2014-06-11
002 2012-01-01 DANIEL D VELA 2013-07-01 DANIEL D VELA 2013-07-01
002 2011-01-01 DANIEL D VELA 2012-06-27 DANIEL D VELA 2012-06-27
002 2010-01-01 DANIEL D VELA 2011-07-06 DANIEL D VELA 2011-07-06

Plan id#	Filing Submission Date	Name of Administrator	Date Administrator Signed	Name of Company Sponsor	Date Sponsor Signed
002	2023-01-01	DANIEL D VELA	2024-06-05
002	2022-01-01	DANIEL VELA	2023-08-11
002	2021-01-01	DANIEL VELA	2022-07-18
002	2020-01-01	DANIEL VELA	2021-05-11
002	2019-01-01	DANIEL VELA	2020-05-15
002	2018-01-01	DANIEL VELA	2019-06-06
002	2017-01-01	DANIEL VELA	2018-05-11
002	2016-01-01	DANIEL VELA
002	2015-01-01	DANIEL D VELA		DANIEL D VELA	2016-10-12
002	2014-01-01	DANIEL D VELA	2015-05-14
002	2013-01-01	DANIEL D VELA	2014-06-11	DANIEL D VELA	2014-06-11
002	2012-01-01	DANIEL D VELA	2013-07-01	DANIEL D VELA	2013-07-01
002	2011-01-01	DANIEL D VELA	2012-06-27	DANIEL D VELA	2012-06-27
002	2010-01-01	DANIEL D VELA	2011-07-06	DANIEL D VELA	2011-07-06

Plan Statistics for VELACORP LTD 401(K) PROFIT SHARING PLAN

401k plan membership statisitcs for VELACORP LTD 401(K) PROFIT SHARING PLAN

Measure Date Value
2016: VELACORP LTD 401(K) PROFIT SHARING PLAN 2016 401k membership
Total participants, beginning-of-year 2016-01-01 140
Total number of active participants reported on line 7a of the Form 5500 2016-01-01 67
Number of retired or separated participants receiving benefits 2016-01-01 0
Number of other retired or separated participants entitled to future benefits 2016-01-01 10
Total of all active and inactive participants 2016-01-01 77
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2016-01-01 0
Total participants 2016-01-01 77
Number of participants with account balances 2016-01-01 64
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2016-01-01 0
2015: VELACORP LTD 401(K) PROFIT SHARING PLAN 2015 401k membership
Total participants, beginning-of-year 2015-01-01 127
Total number of active participants reported on line 7a of the Form 5500 2015-01-01 61
Number of retired or separated participants receiving benefits 2015-01-01 0
Number of other retired or separated participants entitled to future benefits 2015-01-01 70
Total of all active and inactive participants 2015-01-01 131
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2015-01-01 0
Total participants 2015-01-01 131
Number of participants with account balances 2015-01-01 119
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2015-01-01 0

Measure	Date	Value
2016: VELACORP LTD 401(K) PROFIT SHARING PLAN 2016 401k membership
Total participants, beginning-of-year	2016-01-01	140
Total number of active participants reported on line 7a of the Form 5500	2016-01-01	67
Number of retired or separated participants receiving benefits	2016-01-01	0
Number of other retired or separated participants entitled to future benefits	2016-01-01	10
Total of all active and inactive participants	2016-01-01	77
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2016-01-01	0
Total participants	2016-01-01	77
Number of participants with account balances	2016-01-01	64
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2016-01-01	0
2015: VELACORP LTD 401(K) PROFIT SHARING PLAN 2015 401k membership
Total participants, beginning-of-year	2015-01-01	127
Total number of active participants reported on line 7a of the Form 5500	2015-01-01	61
Number of retired or separated participants receiving benefits	2015-01-01	0
Number of other retired or separated participants entitled to future benefits	2015-01-01	70
Total of all active and inactive participants	2015-01-01	131
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2015-01-01	0
Total participants	2015-01-01	131
Number of participants with account balances	2015-01-01	119
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2015-01-01	0

Financial Data on VELACORP LTD 401(K) PROFIT SHARING PLAN

Measure	Date	Value
2016 : VELACORP LTD 401(K) PROFIT SHARING PLAN 2016 401k financial data
Total income from all sources (including contributions)	2016-12-31	$279,206
Total of all expenses incurred	2016-12-31	$262,865
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2016-12-31	$256,544
Expenses. Certain deemed distributions of participant loans	2016-12-31	$0
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2016-12-31	$190,047
Value of total assets at end of year	2016-12-31	$1,665,561
Value of total assets at beginning of year	2016-12-31	$1,649,220
Total of administrative expenses incurred including professional, contract, advisory and management fees	2016-12-31	$6,321
Total interest from all sources	2016-12-31	$0
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 year	2016-12-31	No
Total dividends received from registered investment company shares (eg mutual funds)	2016-12-31	$0
Was this plan covered by a fidelity bond	2016-12-31	Yes
Value of fidelity bond cover	2016-12-31	$175,000
If this is an individual account plan, was there a blackout period	2016-12-31	Yes
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2016-12-31	$0
Were there any nonexempt tranactions with any party-in-interest	2016-12-31	No
Contributions received from participants	2016-12-31	$94,580
Participant contributions at end of year	2016-12-31	$0
Participant contributions at end of year	2016-12-31	$0
Income. Received or receivable in cash from other sources (including rollovers)	2016-12-31	$0
Value of other receiveables (less allowance for doubtful accounts) at end of year	2016-12-31	$0
Total non interest bearing cash at beginning of year	2016-12-31	$133,429
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2016-12-31	No
Value of net income/loss	2016-12-31	$16,341
Value of net assets at end of year (total assets less liabilities)	2016-12-31	$1,665,561
Value of net assets at beginning of year (total assets less liabilities)	2016-12-31	$1,649,220
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2016-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2016-12-31	No
Were any leases to which the plan was party in default or uncollectible	2016-12-31	No
Value of interest in registered invesment companies (eg mutual funds) at end of year	2016-12-31	$1,556,563
Value of interest in registered invesment companies (eg mutual funds) at beginning of year	2016-12-31	$1,515,791
Interest on participant loans	2016-12-31	$0
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)	2016-12-31	$0
Value of funds held in insurance company general accounts (unallocated contracts) at end of year	2016-12-31	$108,998
Expenses. Payments to insurance carriers foe the provision of benefits	2016-12-31	$0
Net investment gain/loss from registered investment companies (e.g. mutual funds)	2016-12-31	$89,159
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2016-12-31	No
Was there a failure to transmit to the plan any participant contributions	2016-12-31	No
Has the plan failed to provide any benefit when due under the plan	2016-12-31	No
Contributions received in cash from employer	2016-12-31	$95,467
Employer contributions (assets) at end of year	2016-12-31	$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2016-12-31	$256,544
Contract administrator fees	2016-12-31	$6,321
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-3	2016-12-31	Yes
Did the plan have assets held for investment	2016-12-31	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	2016-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2016-12-31	No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)	2016-12-31	Yes
Opinion of an independent qualified public accountant for this plan	2016-12-31	Disclaimer
Accountancy firm name	2016-12-31	BURTON MCCUMBER & CORTEZ, LLP
Accountancy firm EIN	2016-12-31	742609610
2015 : VELACORP LTD 401(K) PROFIT SHARING PLAN 2015 401k financial data
Total unrealized appreciation/depreciation of assets	2015-12-31	$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2015-12-31	$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2015-12-31	$0
Total income from all sources (including contributions)	2015-12-31	$211,201
Total loss/gain on sale of assets	2015-12-31	$0
Total of all expenses incurred	2015-12-31	$190,087
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2015-12-31	$189,907
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2015-12-31	$198,105
Value of total assets at end of year	2015-12-31	$1,649,220
Value of total assets at beginning of year	2015-12-31	$1,628,106
Total of administrative expenses incurred including professional, contract, advisory and management fees	2015-12-31	$180
Total interest from all sources	2015-12-31	$0
Total dividends received (eg from common stock, registered investment company shares)	2015-12-31	$68,320
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2015-12-31	No
Total dividends received from registered investment company shares (eg mutual funds)	2015-12-31	$68,320
Was this plan covered by a fidelity bond	2015-12-31	Yes
Value of fidelity bond cover	2015-12-31	$25,000
If this is an individual account plan, was there a blackout period	2015-12-31	No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2015-12-31	$0
Were there any nonexempt tranactions with any party-in-interest	2015-12-31	No
Contributions received from participants	2015-12-31	$105,135
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2015-12-31	No
Value of net income/loss	2015-12-31	$21,114
Value of net assets at end of year (total assets less liabilities)	2015-12-31	$1,649,220
Value of net assets at beginning of year (total assets less liabilities)	2015-12-31	$1,628,106
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2015-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2015-12-31	No
Were any leases to which the plan was party in default or uncollectible	2015-12-31	No
Value of interest in registered invesment companies (eg mutual funds) at end of year	2015-12-31	$1,515,791
Value of interest in registered invesment companies (eg mutual funds) at beginning of year	2015-12-31	$1,523,828
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year	2015-12-31	$133,429
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year	2015-12-31	$104,278
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year	2015-12-31	$104,278
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)	2015-12-31	$0
Net investment gain/loss from registered investment companies (e.g. mutual funds)	2015-12-31	$-55,224
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2015-12-31	No
Was there a failure to transmit to the plan any participant contributions	2015-12-31	No
Has the plan failed to provide any benefit when due under the plan	2015-12-31	No
Contributions received in cash from employer	2015-12-31	$92,970
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2015-12-31	$189,907
Contract administrator fees	2015-12-31	$180
Did the plan have assets held for investment	2015-12-31	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	2015-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2015-12-31	No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)	2015-12-31	Yes
Opinion of an independent qualified public accountant for this plan	2015-12-31	Disclaimer
Accountancy firm name	2015-12-31	BURTON MCCUMBER & CORTEZ, LLP
Accountancy firm EIN	2015-12-31	742609610

Form 5500 Responses for VELACORP LTD 401(K) PROFIT SHARING PLAN

2016: VELACORP LTD 401(K) PROFIT SHARING PLAN 2016 form 5500 responses
2016-01-01	Type of plan entity	Single employer plan
2016-01-01	Plan funding arrangement – Insurance	Yes
2016-01-01	Plan funding arrangement – Trust	Yes
2016-01-01	Plan benefit arrangement - Trust	Yes
2015: VELACORP LTD 401(K) PROFIT SHARING PLAN 2015 form 5500 responses
2015-01-01	Type of plan entity	Single employer plan
2015-01-01	Submission has been amended	No
2015-01-01	This submission is the final filing	No
2015-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2015-01-01	Plan is a collectively bargained plan	No
2015-01-01	Plan funding arrangement – Trust	Yes
2015-01-01	Plan benefit arrangement - Trust	Yes

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Company Name:	VELACORP CONSOLIDATED
Employer identification number (EIN):	742276250
NAIC Classification:	446110
NAIC Description:	Pharmacies and Drug Stores