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INNOVATIVE BUSINESS GROWTH SOLUTIONS RETIREMENT PLAN 401k Plan overview

Plan NameINNOVATIVE BUSINESS GROWTH SOLUTIONS RETIREMENT PLAN
Plan identification number 001

INNOVATIVE BUSINESS GROWTH SOLUTIONS RETIREMENT PLAN Benefits

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

401k Sponsoring company profile

INNOVATIVE BUSINESS GROWTH SOLUTIONS, CORPORATION has sponsored the creation of one or more 401k plans.

Company Name:INNOVATIVE BUSINESS GROWTH SOLUTIONS, CORPORATION
Employer identification number (EIN):830732179
NAIC Classification:541600

Form 5500 Filing Information

Submission information for form 5500 for 401k plan INNOVATIVE BUSINESS GROWTH SOLUTIONS RETIREMENT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012020-01-01
0012019-01-01
0012018-01-01THOMAS LAVOIE

Plan Statistics for INNOVATIVE BUSINESS GROWTH SOLUTIONS RETIREMENT PLAN

401k plan membership statisitcs for INNOVATIVE BUSINESS GROWTH SOLUTIONS RETIREMENT PLAN

Measure Date Value
2020: INNOVATIVE BUSINESS GROWTH SOLUTIONS RETIREMENT PLAN 2020 401k membership
Total participants, beginning-of-year2020-01-011
Total number of active participants reported on line 7a of the Form 55002020-01-010
Number of retired or separated participants receiving benefits2020-01-010
Number of other retired or separated participants entitled to future benefits2020-01-010
Total of all active and inactive participants2020-01-010
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-010
Total participants2020-01-010
Number of participants with account balances2020-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-010
2019: INNOVATIVE BUSINESS GROWTH SOLUTIONS RETIREMENT PLAN 2019 401k membership
Total participants, beginning-of-year2019-01-011
Total number of active participants reported on line 7a of the Form 55002019-01-011
Number of retired or separated participants receiving benefits2019-01-010
Number of other retired or separated participants entitled to future benefits2019-01-010
Total of all active and inactive participants2019-01-011
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-011
Number of participants with account balances2019-01-011
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-010
2018: INNOVATIVE BUSINESS GROWTH SOLUTIONS RETIREMENT PLAN 2018 401k membership
Total participants, beginning-of-year2018-01-010
Total number of active participants reported on line 7a of the Form 55002018-01-011
Total of all active and inactive participants2018-01-011
Total participants2018-01-011
Number of participants with account balances2018-01-011

Financial Data on INNOVATIVE BUSINESS GROWTH SOLUTIONS RETIREMENT PLAN

Measure Date Value
2020 : INNOVATIVE BUSINESS GROWTH SOLUTIONS RETIREMENT PLAN 2020 401k financial data
Total income from all sources2020-06-30$1
Expenses. Total of all expenses incurred2020-06-30$158
Benefits paid (including direct rollovers)2020-06-30$158
Total plan assets at end of year2020-06-30$0
Total plan assets at beginning of year2020-06-30$157
Other income received2020-06-30$1
Net income (gross income less expenses)2020-06-30$-157
Net plan assets at end of year (total assets less liabilities)2020-06-30$0
Net plan assets at beginning of year (total assets less liabilities)2020-06-30$157
Assets. Value of employer securities2020-06-30$0
2019 : INNOVATIVE BUSINESS GROWTH SOLUTIONS RETIREMENT PLAN 2019 401k financial data
Total income from all sources2019-12-31$-486,826
Expenses. Total of all expenses incurred2019-12-31$0
Total plan assets at end of year2019-12-31$157
Total plan assets at beginning of year2019-12-31$486,983
Other income received2019-12-31$-486,826
Net income (gross income less expenses)2019-12-31$-486,826
Net plan assets at end of year (total assets less liabilities)2019-12-31$157
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$486,983
Assets. Value of employer securities2019-12-31$0
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2019-12-31$0
2018 : INNOVATIVE BUSINESS GROWTH SOLUTIONS RETIREMENT PLAN 2018 401k financial data
Total income from all sources2018-12-31$486,983
Total plan assets at end of year2018-12-31$486,983
Contributions received from other sources (not participants or employers)2018-12-31$486,813
Other income received2018-12-31$170
Net income (gross income less expenses)2018-12-31$486,983
Net plan assets at end of year (total assets less liabilities)2018-12-31$486,983
Assets. Value of employer securities2018-12-31$486,826
Funding deficiency by the employer to the plan for this plan year2018-12-31$0
Minimum employer required contribution for this plan year2018-12-31$0
Amount contributed by the employer to the plan for this plan year2018-12-31$0

Form 5500 Responses for INNOVATIVE BUSINESS GROWTH SOLUTIONS RETIREMENT PLAN

2020: INNOVATIVE BUSINESS GROWTH SOLUTIONS 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 filingYes
2020-01-01This return/report is a short plan year return/report (less than 12 months)Yes
2020-01-01Plan is a collectively bargained planNo
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement - TrustYes
2019: INNOVATIVE BUSINESS GROWTH SOLUTIONS 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 – TrustYes
2019-01-01Plan benefit arrangement - TrustYes
2018: INNOVATIVE BUSINESS GROWTH SOLUTIONS RETIREMENT PLAN 2018 form 5500 responses
2018-01-01Type of plan entitySingle employer plan
2018-01-01First time form 5500 has been submittedYes
2018-01-01Plan funding arrangement – TrustYes
2018-01-01Plan benefit arrangement - TrustYes

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