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GENIUS GEMS GROUP INC. 401(K) PLAN 401k Plan overview

Plan NameGENIUS GEMS GROUP INC. 401(K) PLAN
Plan identification number 001

GENIUS GEMS GROUP INC. 401(K) 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.
  • 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.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

GENIUS GEMS GROUP INC. has sponsored the creation of one or more 401k plans.

Company Name:GENIUS GEMS GROUP INC.
Employer identification number (EIN):920563261
NAIC Classification:611000

Form 5500 Filing Information

Submission information for form 5500 for 401k plan GENIUS GEMS GROUP INC. 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-09-29

Plan Statistics for GENIUS GEMS GROUP INC. 401(K) PLAN

401k plan membership statisitcs for GENIUS GEMS GROUP INC. 401(K) PLAN

Measure Date Value
2022: GENIUS GEMS GROUP INC. 401(K) PLAN 2022 401k membership
Total participants, beginning-of-year2022-09-290
Total number of active participants reported on line 7a of the Form 55002022-09-291
Number of retired or separated participants receiving benefits2022-09-290
Number of other retired or separated participants entitled to future benefits2022-09-290
Total of all active and inactive participants2022-09-291
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-09-290
Total participants2022-09-291
Number of participants with account balances2022-09-291
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-09-290

Financial Data on GENIUS GEMS GROUP INC. 401(K) PLAN

Measure Date Value
2023 : GENIUS GEMS GROUP INC. 401(K) PLAN 2023 401k financial data
Transfers to/from the plan2023-06-30$0
Total plan liabilities at end of year2023-06-30$0
Total plan liabilities at beginning of year2023-06-30$0
Total income from all sources2023-06-30$29,344
Expenses. Total of all expenses incurred2023-06-30$125
Benefits paid (including direct rollovers)2023-06-30$0
Total plan assets at end of year2023-06-30$29,219
Total plan assets at beginning of year2023-06-30$0
Total contributions received or receivable from participants2023-06-30$0
Expenses. Other expenses not covered elsewhere2023-06-30$125
Contributions received from other sources (not participants or employers)2023-06-30$709,845
Other income received2023-06-30$-680,501
Noncash contributions received2023-06-30$0
Net income (gross income less expenses)2023-06-30$29,219
Net plan assets at end of year (total assets less liabilities)2023-06-30$29,219
Net plan assets at beginning of year (total assets less liabilities)2023-06-30$0
Assets. Value of employer securities2023-06-30$29,219
Total contributions received or receivable from employer(s)2023-06-30$0
Value of certain deemed distributions of participant loans2023-06-30$0
Value of corrective distributions2023-06-30$0
Expenses. Administrative service providers (salaries,fees and commissions)2023-06-30$0

Form 5500 Responses for GENIUS GEMS GROUP INC. 401(K) PLAN

2022: GENIUS GEMS GROUP INC. 401(K) PLAN 2022 form 5500 responses
2022-09-29Type of plan entitySingle employer plan
2022-09-29First time form 5500 has been submittedYes
2022-09-29Submission has been amendedNo
2022-09-29This submission is the final filingNo
2022-09-29This return/report is a short plan year return/report (less than 12 months)Yes
2022-09-29Plan is a collectively bargained planNo
2022-09-29Plan funding arrangement – TrustYes
2022-09-29Plan benefit arrangement - TrustYes

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