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DIAMONDBACK INDUSTRIES, INC. RETIREMENT PLAN 401k Plan overview

Plan NameDIAMONDBACK INDUSTRIES, INC. RETIREMENT PLAN
Plan identification number 001

DIAMONDBACK INDUSTRIES, INC. RETIREMENT PLAN Benefits

401k Plan TypeDefined 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.
  • 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.

401k Sponsoring company profile

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

Company Name:DIAMONDBACK INDUSTRIES, INC.
Employer identification number (EIN):742934403
NAIC Classification:423800

Additional information about DIAMONDBACK INDUSTRIES, INC.

Jurisdiction of Incorporation: Texas Secretary of State
Incorporation Date: 1999-07-12
Company Identification Number: 0154271700
Legal Registered Office Address: PO BOX 281

CROWLEY
United States of America (USA)
76036

More information about DIAMONDBACK INDUSTRIES, INC.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan DIAMONDBACK INDUSTRIES, INC. RETIREMENT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012020-01-01
0012020-01-01
0012020-01-01
0012019-01-01
0012019-01-01
0012018-01-01
0012017-01-01
0012016-01-01
0012015-01-01
0012014-01-01TREA BAKER2015-10-12
0012013-01-01TREA BAKER2014-09-29
0012012-01-01TREA BAKER2013-08-19
0012011-01-01TREA BAKER2012-07-17
0012010-01-01TREA BAKER2011-07-05
0012009-01-01TREA BAKER

Plan Statistics for DIAMONDBACK INDUSTRIES, INC. RETIREMENT PLAN

401k plan membership statisitcs for DIAMONDBACK INDUSTRIES, INC. RETIREMENT PLAN

Measure Date Value
2020: DIAMONDBACK INDUSTRIES, INC. RETIREMENT PLAN 2020 401k membership
Total participants, beginning-of-year2020-01-01200
Total number of active participants reported on line 7a of the Form 55002020-01-0168
Number of retired or separated participants receiving benefits2020-01-010
Number of other retired or separated participants entitled to future benefits2020-01-0153
Total of all active and inactive participants2020-01-01121
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-010
Total participants2020-01-01121
Number of participants with account balances2020-01-0172
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-010
2019: DIAMONDBACK INDUSTRIES, INC. RETIREMENT PLAN 2019 401k membership
Total participants, beginning-of-year2019-01-01134
Total number of active participants reported on line 7a of the Form 55002019-01-01178
Number of retired or separated participants receiving benefits2019-01-010
Number of other retired or separated participants entitled to future benefits2019-01-0120
Total of all active and inactive participants2019-01-01198
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-01198
Number of participants with account balances2019-01-01133
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-010
2009: DIAMONDBACK INDUSTRIES, INC. RETIREMENT PLAN 2009 401k membership
Total participants, beginning-of-year2009-01-0113
Total number of active participants reported on line 7a of the Form 55002009-01-0116
Number of retired or separated participants receiving benefits2009-01-010
Number of other retired or separated participants entitled to future benefits2009-01-011
Total of all active and inactive participants2009-01-0117
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2009-01-010
Total participants2009-01-0117
Number of participants with account balances2009-01-0115
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-01-010

Financial Data on DIAMONDBACK INDUSTRIES, INC. RETIREMENT PLAN

Measure Date Value
2020 : DIAMONDBACK INDUSTRIES, INC. RETIREMENT PLAN 2020 401k financial data
Total unrealized appreciation/depreciation of assets2020-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2020-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2020-12-31$0
Total income from all sources (including contributions)2020-12-31$653,599
Total loss/gain on sale of assets2020-12-31$0
Total of all expenses incurred2020-12-31$550,026
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2020-12-31$546,526
Total contributions o plan (from employers,participants, others, non cash contrinutions)2020-12-31$320,591
Value of total assets at end of year2020-12-31$2,729,671
Value of total assets at beginning of year2020-12-31$2,626,098
Total of administrative expenses incurred including professional, contract, advisory and management fees2020-12-31$3,500
Total interest from all sources2020-12-31$1,380
Total dividends received (eg from common stock, registered investment company shares)2020-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2020-12-31No
Was this plan covered by a fidelity bond2020-12-31Yes
Value of fidelity bond cover2020-12-31$1,000,000
If this is an individual account plan, was there a blackout period2020-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2020-12-31$0
Were there any nonexempt tranactions with any party-in-interest2020-12-31No
Contributions received from participants2020-12-31$244,800
Participant contributions at end of year2020-12-31$23,738
Participant contributions at beginning of year2020-12-31$56,996
Total non interest bearing cash at end of year2020-12-31$309
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2020-12-31No
Value of net income/loss2020-12-31$103,573
Value of net assets at end of year (total assets less liabilities)2020-12-31$2,729,671
Value of net assets at beginning of year (total assets less liabilities)2020-12-31$2,626,098
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2020-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2020-12-31No
Were any leases to which the plan was party in default or uncollectible2020-12-31No
Value of interest in pooled separate accounts at end of year2020-12-31$2,673,977
Value of interest in pooled separate accounts at beginning of year2020-12-31$2,543,535
Interest on participant loans2020-12-31$1,298
Income. Interest from loans (other than to participants)2020-12-31$0
Interest earned on other investments2020-12-31$82
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2020-12-31$31,647
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2020-12-31$25,567
Net investment gain/loss from pooled separate accounts2020-12-31$331,628
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2020-12-31No
Was there a failure to transmit to the plan any participant contributions2020-12-31No
Has the plan failed to provide any benefit when due under the plan2020-12-31No
Contributions received in cash from employer2020-12-31$75,791
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2020-12-31$546,526
Contract administrator fees2020-12-31$3,500
Did the plan have assets held for investment2020-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2020-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2020-12-31No
Opinion of an independent qualified public accountant for this plan2020-12-31Disclaimer
Accountancy firm name2020-12-31MESCH, PLLC
Accountancy firm EIN2020-12-31274197566
2019 : DIAMONDBACK INDUSTRIES, INC. RETIREMENT PLAN 2019 401k financial data
Total unrealized appreciation/depreciation of assets2019-12-31$0
Total unrealized appreciation/depreciation of assets2019-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2019-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2019-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2019-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2019-12-31$0
Total income from all sources (including contributions)2019-12-31$952,693
Total income from all sources (including contributions)2019-12-31$952,693
Total loss/gain on sale of assets2019-12-31$0
Total loss/gain on sale of assets2019-12-31$0
Total of all expenses incurred2019-12-31$173,959
Total of all expenses incurred2019-12-31$173,959
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2019-12-31$149,346
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2019-12-31$149,346
Total contributions o plan (from employers,participants, others, non cash contrinutions)2019-12-31$519,550
Total contributions o plan (from employers,participants, others, non cash contrinutions)2019-12-31$519,550
Value of total assets at end of year2019-12-31$2,626,098
Value of total assets at end of year2019-12-31$2,626,098
Value of total assets at beginning of year2019-12-31$1,847,364
Value of total assets at beginning of year2019-12-31$1,847,364
Total of administrative expenses incurred including professional, contract, advisory and management fees2019-12-31$24,613
Total of administrative expenses incurred including professional, contract, advisory and management fees2019-12-31$24,613
Total interest from all sources2019-12-31$2,597
Total dividends received (eg from common stock, registered investment company shares)2019-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2019-12-31No
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2019-12-31No
Was this plan covered by a fidelity bond2019-12-31Yes
Was this plan covered by a fidelity bond2019-12-31Yes
Value of fidelity bond cover2019-12-31$1,000,000
If this is an individual account plan, was there a blackout period2019-12-31Yes
If this is an individual account plan, was there a blackout period2019-12-31Yes
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2019-12-31$0
Were there any nonexempt tranactions with any party-in-interest2019-12-31No
Were there any nonexempt tranactions with any party-in-interest2019-12-31No
Contributions received from participants2019-12-31$271,470
Contributions received from participants2019-12-31$271,470
Participant contributions at end of year2019-12-31$56,996
Participant contributions at end of year2019-12-31$56,996
Participant contributions at beginning of year2019-12-31$51,460
Income. Received or receivable in cash from other sources (including rollovers)2019-12-31$64,285
Income. Received or receivable in cash from other sources (including rollovers)2019-12-31$64,285
Administrative expenses (other) incurred2019-12-31$23,288
Administrative expenses (other) incurred2019-12-31$23,288
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2019-12-31No
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2019-12-31No
Value of net income/loss2019-12-31$778,734
Value of net income/loss2019-12-31$778,734
Value of net assets at end of year (total assets less liabilities)2019-12-31$2,626,098
Value of net assets at end of year (total assets less liabilities)2019-12-31$2,626,098
Value of net assets at beginning of year (total assets less liabilities)2019-12-31$1,847,364
Value of net assets at beginning of year (total assets less liabilities)2019-12-31$1,847,364
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2019-12-31No
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2019-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2019-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2019-12-31No
Were any leases to which the plan was party in default or uncollectible2019-12-31No
Were any leases to which the plan was party in default or uncollectible2019-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2019-12-31$0
Value of interest in registered invesment companies (eg mutual funds) at end of year2019-12-31$0
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2019-12-31$1,795,904
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2019-12-31$1,795,904
Value of interest in pooled separate accounts at end of year2019-12-31$2,543,535
Value of interest in pooled separate accounts at end of year2019-12-31$2,543,535
Interest on participant loans2019-12-31$2,575
Interest on participant loans2019-12-31$2,575
Interest earned on other investments2019-12-31$22
Interest earned on other investments2019-12-31$22
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2019-12-31$25,567
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2019-12-31$25,567
Net investment gain/loss from registered investment companies (e.g. mutual funds)2019-12-31$226,067
Net investment gain/loss from pooled separate accounts2019-12-31$204,479
Net investment gain/loss from pooled separate accounts2019-12-31$204,479
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2019-12-31No
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2019-12-31No
Was there a failure to transmit to the plan any participant contributions2019-12-31No
Was there a failure to transmit to the plan any participant contributions2019-12-31No
Has the plan failed to provide any benefit when due under the plan2019-12-31No
Has the plan failed to provide any benefit when due under the plan2019-12-31No
Contributions received in cash from employer2019-12-31$183,795
Contributions received in cash from employer2019-12-31$183,795
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2019-12-31$149,346
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2019-12-31$149,346
Contract administrator fees2019-12-31$1,325
Contract administrator fees2019-12-31$1,325
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32019-12-31Yes
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32019-12-31Yes
Did the plan have assets held for investment2019-12-31Yes
Did the plan have assets held for investment2019-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2019-12-31No
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2019-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2019-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2019-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2019-12-31Yes
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2019-12-31Yes
Opinion of an independent qualified public accountant for this plan2019-12-31Disclaimer
Opinion of an independent qualified public accountant for this plan2019-12-31Disclaimer
Accountancy firm name2019-12-31MESCH, PLLC
Accountancy firm name2019-12-31MESCH, PLLC
Accountancy firm EIN2019-12-31274197566
Accountancy firm EIN2019-12-31274197566

Form 5500 Responses for DIAMONDBACK INDUSTRIES, INC. RETIREMENT PLAN

2020: DIAMONDBACK INDUSTRIES, INC. RETIREMENT PLAN 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
2020-01-01Submission has been amendedNo
2020-01-01This submission is the final filingNo
2020-01-01This return/report is a short plan year return/report (less than 12 months)No
2020-01-01Plan is a collectively bargained planNo
2020-01-01Plan funding arrangement – InsuranceYes
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement – InsuranceYes
2020-01-01Plan benefit arrangement - TrustYes
2019: DIAMONDBACK INDUSTRIES, INC. RETIREMENT PLAN 2019 form 5500 responses
2019-01-01Type of plan entitySingle employer plan
2019-01-01Submission has been amendedNo
2019-01-01This submission is the final filingNo
2019-01-01This return/report is a short plan year return/report (less than 12 months)No
2019-01-01Plan is a collectively bargained planNo
2019-01-01Plan funding arrangement – InsuranceYes
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement – InsuranceYes
2019-01-01Plan benefit arrangement - TrustYes
2009: DIAMONDBACK INDUSTRIES, INC. RETIREMENT 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

Insurance Providers Used on plan

MUTUAL OF OMAHA (National Association of Insurance Commissioners NAIC id number: 69868 )
Policy contract number25934
Policy instance 1
Insurance contract or identification number25934
Number of Individuals Covered72
Insurance policy start date2020-01-01
Insurance policy end date2020-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $14,775
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?Yes
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?No
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
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Amount paid for insurance broker fees14775
Additional information about fees paid to insurance brokerSERVICE FEES
Insurance broker organization code?3
MUTUAL OF OMAHA (National Association of Insurance Commissioners NAIC id number: 69868 )
Policy contract number25934
Policy instance 1
Insurance contract or identification number25934
Number of Individuals Covered133
Insurance policy start date2019-05-29
Insurance policy end date2019-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $3,564
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?Yes
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?No
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
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Amount paid for insurance broker fees3564
Additional information about fees paid to insurance brokerFEES
Insurance broker organization code?3

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