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KRYSTAL BIOTECH, INC. 401(K) PLAN 401k Plan overview

Plan NameKRYSTAL BIOTECH, INC. 401(K) PLAN
Plan identification number 002

KRYSTAL BIOTECH, 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.
  • 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

KRYSTAL BIOTECH INC has sponsored the creation of one or more 401k plans.

Company Name:KRYSTAL BIOTECH INC
Employer identification number (EIN):821080209
NAIC Classification:541700

Form 5500 Filing Information

Submission information for form 5500 for 401k plan KRYSTAL BIOTECH, INC. 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022023-01-01
0022022-01-01
0022021-01-01KATHRYN ROMANO2022-07-29
0022020-06-01KATHRYN ROMANO2021-07-22

Plan Statistics for KRYSTAL BIOTECH, INC. 401(K) PLAN

401k plan membership statisitcs for KRYSTAL BIOTECH, INC. 401(K) PLAN

Measure Date Value
2023: KRYSTAL BIOTECH, INC. 401(K) PLAN 2023 401k membership
Total participants, beginning-of-year2023-01-01214
Total number of active participants reported on line 7a of the Form 55002023-01-01227
Number of retired or separated participants receiving benefits2023-01-010
Number of other retired or separated participants entitled to future benefits2023-01-0128
Total of all active and inactive participants2023-01-01255
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2023-01-010
Total participants2023-01-01255
Number of participants with account balances2023-01-01233
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2023-01-010
2022: KRYSTAL BIOTECH, INC. 401(K) PLAN 2022 401k membership
Total participants, beginning-of-year2022-01-01126
Total number of active participants reported on line 7a of the Form 55002022-01-01195
Number of retired or separated participants receiving benefits2022-01-010
Number of other retired or separated participants entitled to future benefits2022-01-0118
Total of all active and inactive participants2022-01-01213
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-01213
Number of participants with account balances2022-01-01185
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-010

Financial Data on KRYSTAL BIOTECH, INC. 401(K) PLAN

Measure Date Value
2023 : KRYSTAL BIOTECH, INC. 401(K) PLAN 2023 401k financial data
Total unrealized appreciation/depreciation of assets2023-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2023-12-31$6,195
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2023-12-31$20,283
Total income from all sources (including contributions)2023-12-31$5,587,045
Total loss/gain on sale of assets2023-12-31$0
Total of all expenses incurred2023-12-31$938,672
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2023-12-31$867,930
Total contributions o plan (from employers,participants, others, non cash contrinutions)2023-12-31$4,204,427
Value of total assets at end of year2023-12-31$9,883,263
Value of total assets at beginning of year2023-12-31$5,248,978
Total of administrative expenses incurred including professional, contract, advisory and management fees2023-12-31$70,742
Total interest from all sources2023-12-31$3,048
Total dividends received (eg from common stock, registered investment company shares)2023-12-31$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$500,000
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$2,773,590
Participant contributions at end of year2023-12-31$52,264
Participant contributions at beginning of year2023-12-31$0
Income. Received or receivable in cash from other sources (including rollovers)2023-12-31$215,636
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year2023-12-31$6,195
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2023-12-31$20,283
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
Value of net income/loss2023-12-31$4,648,373
Value of net assets at end of year (total assets less liabilities)2023-12-31$9,877,068
Value of net assets at beginning of year (total assets less liabilities)2023-12-31$5,228,695
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
Value of interest in pooled separate accounts at end of year2023-12-31$9,733,799
Value of interest in pooled separate accounts at beginning of year2023-12-31$5,215,272
Interest on participant loans2023-12-31$3,048
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2023-12-31$97,200
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2023-12-31$33,706
Net investment gain/loss from pooled separate accounts2023-12-31$1,379,570
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$1,215,201
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2023-12-31$867,930
Contract administrator fees2023-12-31$1,625
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
Opinion of an independent qualified public accountant for this plan2023-12-31Unqualified
Accountancy firm name2023-12-31H2R CPA
Accountancy firm EIN2023-12-31251031723
2022 : KRYSTAL BIOTECH, INC. 401(K) PLAN 2022 401k financial data
Total unrealized appreciation/depreciation of assets2022-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$20,283
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$2,841
Total income from all sources (including contributions)2022-12-31$2,444,603
Total loss/gain on sale of assets2022-12-31$0
Total of all expenses incurred2022-12-31$333,134
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-12-31$284,722
Value of total corrective distributions2022-12-31$18,986
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-12-31$3,162,539
Value of total assets at end of year2022-12-31$5,248,978
Value of total assets at beginning of year2022-12-31$3,120,067
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-12-31$29,426
Total interest from all sources2022-12-31$24
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 year2022-12-31No
Was this plan covered by a fidelity bond2022-12-31Yes
Value of fidelity bond cover2022-12-31$500,000
If this is an individual account plan, was there a blackout period2022-12-31No
Were there any nonexempt tranactions with any party-in-interest2022-12-31No
Contributions received from participants2022-12-31$1,715,384
Income. Received or receivable in cash from other sources (including rollovers)2022-12-31$652,047
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year2022-12-31$20,283
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2022-12-31$2,841
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Value of net income/loss2022-12-31$2,111,469
Value of net assets at end of year (total assets less liabilities)2022-12-31$5,228,695
Value of net assets at beginning of year (total assets less liabilities)2022-12-31$3,117,226
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2022-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2022-12-31No
Were any leases to which the plan was party in default or uncollectible2022-12-31No
Value of interest in pooled separate accounts at end of year2022-12-31$5,215,272
Value of interest in pooled separate accounts at beginning of year2022-12-31$3,109,578
Interest on participant loans2022-12-31$24
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2022-12-31$33,706
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2022-12-31$10,489
Net investment gain/loss from pooled separate accounts2022-12-31$-717,960
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2022-12-31No
Was there a failure to transmit to the plan any participant contributions2022-12-31No
Has the plan failed to provide any benefit when due under the plan2022-12-31No
Contributions received in cash from employer2022-12-31$795,108
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-12-31$284,722
Contract administrator fees2022-12-31$29,426
Did the plan have assets held for investment2022-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2022-12-31No
Opinion of an independent qualified public accountant for this plan2022-12-31Unqualified
Accountancy firm name2022-12-31H2R CPA
Accountancy firm EIN2022-12-31251031723

Form 5500 Responses for KRYSTAL BIOTECH, INC. 401(K) PLAN

2023: KRYSTAL BIOTECH, INC. 401(K) PLAN 2023 form 5500 responses
2023-01-01Type of plan entitySingle employer plan
2023-01-01Submission has been amendedNo
2023-01-01This submission is the final filingNo
2023-01-01This return/report is a short plan year return/report (less than 12 months)No
2023-01-01Plan is a collectively bargained planNo
2023-01-01Plan funding arrangement – InsuranceYes
2023-01-01Plan funding arrangement – TrustYes
2023-01-01Plan benefit arrangement – InsuranceYes
2023-01-01Plan benefit arrangement - TrustYes
2022: KRYSTAL BIOTECH, INC. 401(K) PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01Submission has been amendedNo
2022-01-01This submission is the final filingNo
2022-01-01This return/report is a short plan year return/report (less than 12 months)No
2022-01-01Plan is a collectively bargained planNo
2022-01-01Plan funding arrangement – InsuranceYes
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement – InsuranceYes
2022-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

VOYA RETIRIEMENT INSURANCE AND ANNUITY COMPANY (National Association of Insurance Commissioners NAIC id number: 86509 )
Policy contract number81F530
Policy instance 1
Insurance contract or identification number81F530
Number of Individuals Covered233
Insurance policy start date2023-01-01
Insurance policy end date2023-12-31
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?No
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
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
VOYA RETIRIEMENT INSURANCE AND ANNUITY COMPANY (National Association of Insurance Commissioners NAIC id number: 86509 )
Policy contract number81F530
Policy instance 1
Insurance contract or identification number81F530
Number of Individuals Covered185
Insurance policy start date2022-01-01
Insurance policy end date2022-12-31
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?No
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
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

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