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POVIARD, INC.401(K) PROFIT SHARING PLAN 401k Plan overview

Plan NamePOVIARD, INC.401(K) PROFIT SHARING PLAN
Plan identification number 001

POVIARD, INC.401(K) PROFIT SHARING 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.
  • 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

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

Company Name:POVIARD, INC.
Employer identification number (EIN):851053048
NAIC Classification:531390
NAIC Description:Other Activities Related to Real Estate

Additional information about POVIARD, INC.

Jurisdiction of Incorporation: Texas Secretary of State
Incorporation Date: 2020-05-13
Company Identification Number: 0803617880
Legal Registered Office Address: 2000 HUGHES LANDING BLVD APT 479

THE WOODLANDS
United States of America (USA)
77380

More information about POVIARD, INC.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan POVIARD, INC.401(K) PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01
0012021-01-01
0012020-05-25

Plan Statistics for POVIARD, INC.401(K) PROFIT SHARING PLAN

401k plan membership statisitcs for POVIARD, INC.401(K) PROFIT SHARING PLAN

Measure Date Value
2022: POVIARD, INC.401(K) PROFIT SHARING PLAN 2022 401k membership
Total participants, beginning-of-year2022-01-011
Total number of active participants reported on line 7a of the Form 55002022-01-011
Number of retired or separated participants receiving benefits2022-01-010
Number of other retired or separated participants entitled to future benefits2022-01-010
Total of all active and inactive participants2022-01-011
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-011
Number of participants with account balances2022-01-011
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-010
2021: POVIARD, INC.401(K) PROFIT SHARING PLAN 2021 401k membership
Total participants, beginning-of-year2021-01-011
Total number of active participants reported on line 7a of the Form 55002021-01-011
Number of retired or separated participants receiving benefits2021-01-010
Number of other retired or separated participants entitled to future benefits2021-01-010
Total of all active and inactive participants2021-01-011
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-010
Total participants2021-01-011
Number of participants with account balances2021-01-011
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-010
2020: POVIARD, INC.401(K) PROFIT SHARING PLAN 2020 401k membership
Total participants, beginning-of-year2020-05-251
Total number of active participants reported on line 7a of the Form 55002020-05-251
Number of retired or separated participants receiving benefits2020-05-250
Number of other retired or separated participants entitled to future benefits2020-05-250
Total of all active and inactive participants2020-05-251
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-05-250
Total participants2020-05-251
Number of participants with account balances2020-05-251
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-05-250

Financial Data on POVIARD, INC.401(K) PROFIT SHARING PLAN

Measure Date Value
2022 : POVIARD, INC.401(K) PROFIT SHARING PLAN 2022 401k financial data
Total income from all sources2022-12-31$-263,042
Expenses. Total of all expenses incurred2022-12-31$120
Total plan assets at end of year2022-12-31$275,542
Total plan assets at beginning of year2022-12-31$538,704
Expenses. Other expenses not covered elsewhere2022-12-31$120
Other income received2022-12-31$-263,042
Net income (gross income less expenses)2022-12-31$-263,162
Net plan assets at end of year (total assets less liabilities)2022-12-31$275,542
Net plan assets at beginning of year (total assets less liabilities)2022-12-31$538,704
Assets. Value of participant loans2022-12-31$500
Assets. Value of employer securities2022-12-31$273,894
2021 : POVIARD, INC.401(K) PROFIT SHARING PLAN 2021 401k financial data
Total income from all sources2021-12-31$-22,997
Expenses. Total of all expenses incurred2021-12-31$90
Total plan assets at end of year2021-12-31$538,704
Total plan assets at beginning of year2021-12-31$561,791
Expenses. Other expenses not covered elsewhere2021-12-31$90
Other income received2021-12-31$-22,997
Net income (gross income less expenses)2021-12-31$-23,087
Net plan assets at end of year (total assets less liabilities)2021-12-31$538,704
Net plan assets at beginning of year (total assets less liabilities)2021-12-31$561,791
Assets. Value of participant loans2021-12-31$500
Assets. Value of employer securities2021-12-31$536,936
2020 : POVIARD, INC.401(K) PROFIT SHARING PLAN 2020 401k financial data
Total income from all sources2020-12-31$561,821
Expenses. Total of all expenses incurred2020-12-31$30
Total plan assets at end of year2020-12-31$561,791
Total plan assets at beginning of year2020-12-31$0
Expenses. Other expenses not covered elsewhere2020-12-31$30
Contributions received from other sources (not participants or employers)2020-12-31$684,761
Other income received2020-12-31$-122,940
Net income (gross income less expenses)2020-12-31$561,791
Net plan assets at end of year (total assets less liabilities)2020-12-31$561,791
Net plan assets at beginning of year (total assets less liabilities)2020-12-31$0
Assets. Value of participant loans2020-12-31$500
Assets. Value of employer securities2020-12-31$536,936

Form 5500 Responses for POVIARD, INC.401(K) PROFIT SHARING PLAN

2022: POVIARD, INC.401(K) PROFIT SHARING PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement - TrustYes
2021: POVIARD, INC.401(K) PROFIT SHARING PLAN 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement - TrustYes
2020: POVIARD, INC.401(K) PROFIT SHARING PLAN 2020 form 5500 responses
2020-05-25Type of plan entitySingle employer plan
2020-05-25First time form 5500 has been submittedYes
2020-05-25This return/report is a short plan year return/report (less than 12 months)Yes
2020-05-25Plan funding arrangement – TrustYes
2020-05-25Plan benefit arrangement - TrustYes

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