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THE ART SOURCE 401(K) PROFIT SHARING PLAN 401k Plan overview

Plan NameTHE ART SOURCE 401(K) PROFIT SHARING PLAN
Plan identification number 002

THE ART SOURCE 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.
  • Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
  • 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

THE ART SOURCE, INC. has sponsored the creation of one or more 401k plans.

Company Name:THE ART SOURCE, INC.
Employer identification number (EIN):990280665
NAIC Classification:453990

Form 5500 Filing Information

Submission information for form 5500 for 401k plan THE ART SOURCE 401(K) PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022015-01-01LON
0022015-01-01
0022014-01-01LON MIYAGUCHI
0022013-01-01LON MIYAGUCHI
0022012-01-01LON MIYAGUCHI2013-07-22 LON MIYAGUCHI2013-07-22

Plan Statistics for THE ART SOURCE 401(K) PROFIT SHARING PLAN

401k plan membership statisitcs for THE ART SOURCE 401(K) PROFIT SHARING PLAN

Measure Date Value
2015: THE ART SOURCE 401(K) PROFIT SHARING PLAN 2015 401k membership
Total participants, beginning-of-year2015-01-01211
Total number of active participants reported on line 7a of the Form 55002015-01-010
Number of retired or separated participants receiving benefits2015-01-010
Number of other retired or separated participants entitled to future benefits2015-01-010
Total of all active and inactive participants2015-01-010
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2015-01-010
Total participants2015-01-010
Number of participants with account balances2015-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2015-01-010
2014: THE ART SOURCE 401(K) PROFIT SHARING PLAN 2014 401k membership
Total participants, beginning-of-year2014-01-01212
Total number of active participants reported on line 7a of the Form 55002014-01-01128
Number of retired or separated participants receiving benefits2014-01-010
Number of other retired or separated participants entitled to future benefits2014-01-0119
Total of all active and inactive participants2014-01-01147
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2014-01-010
Total participants2014-01-01147
Number of participants with account balances2014-01-01211
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2014-01-010
2013: THE ART SOURCE 401(K) PROFIT SHARING PLAN 2013 401k membership
Total participants, beginning-of-year2013-01-01135
Total number of active participants reported on line 7a of the Form 55002013-01-01135
Number of retired or separated participants receiving benefits2013-01-010
Number of other retired or separated participants entitled to future benefits2013-01-0174
Total of all active and inactive participants2013-01-01209
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2013-01-010
Total participants2013-01-01209
Number of participants with account balances2013-01-01179
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2013-01-010

Financial Data on THE ART SOURCE 401(K) PROFIT SHARING PLAN

Measure Date Value
2015 : THE ART SOURCE 401(K) PROFIT SHARING PLAN 2015 401k financial data
Total transfer of assets from this plan2015-04-30$1,113,627
Total income from all sources (including contributions)2015-04-30$83,750
Total of all expenses incurred2015-04-30$19,682
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2015-04-30$12,394
Value of total corrective distributions2015-04-30$3,859
Total contributions o plan (from employers,participants, others, non cash contrinutions)2015-04-30$53,792
Value of total assets at end of year2015-04-30$0
Value of total assets at beginning of year2015-04-30$1,049,559
Total of administrative expenses incurred including professional, contract, advisory and management fees2015-04-30$3,429
Total interest from all sources2015-04-30$274
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2015-04-30Yes
Value of any plan assets that reverted to the employer resulting from resoluton to terminate the plan2015-04-30$0
Was this plan covered by a fidelity bond2015-04-30Yes
Value of fidelity bond cover2015-04-30$100,000
If this is an individual account plan, was there a blackout period2015-04-30Yes
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2015-04-30$0
Were there any nonexempt tranactions with any party-in-interest2015-04-30No
Contributions received from participants2015-04-30$53,792
Participant contributions at beginning of year2015-04-30$26,504
Other income not declared elsewhere2015-04-30$718
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2015-04-30No
Value of net income/loss2015-04-30$64,068
Value of net assets at end of year (total assets less liabilities)2015-04-30$0
Value of net assets at beginning of year (total assets less liabilities)2015-04-30$1,049,559
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2015-04-30No
Were any loans by the plan or fixed income obligations due to the plan in default2015-04-30No
Were any leases to which the plan was party in default or uncollectible2015-04-30No
Value of interest in pooled separate accounts at end of year2015-04-30$0
Value of interest in pooled separate accounts at beginning of year2015-04-30$875,603
Interest on participant loans2015-04-30$274
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2015-04-30$147,452
Net investment gain/loss from pooled separate accounts2015-04-30$28,966
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2015-04-30No
Was there a failure to transmit to the plan any participant contributions2015-04-30No
Has the plan failed to provide any benefit when due under the plan2015-04-30No
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2015-04-30$12,394
Contract administrator fees2015-04-30$3,429
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32015-04-30Yes
Did the plan have assets held for investment2015-04-30No
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2015-04-30No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2015-04-30Yes
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2015-04-30Yes
Opinion of an independent qualified public accountant for this plan2015-04-30Disclaimer
Accountancy firm name2015-04-30KKDLY LLC
Accountancy firm EIN2015-04-30990292355
2014 : THE ART SOURCE 401(K) PROFIT SHARING PLAN 2014 401k financial data
Total income from all sources (including contributions)2014-12-31$237,897
Total of all expenses incurred2014-12-31$82,686
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2014-12-31$58,413
Total contributions o plan (from employers,participants, others, non cash contrinutions)2014-12-31$165,260
Value of total assets at end of year2014-12-31$1,049,559
Value of total assets at beginning of year2014-12-31$894,348
Total of administrative expenses incurred including professional, contract, advisory and management fees2014-12-31$24,273
Total interest from all sources2014-12-31$1,347
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2014-12-31No
Was this plan covered by a fidelity bond2014-12-31Yes
Value of fidelity bond cover2014-12-31$100,000
If this is an individual account plan, was there a blackout period2014-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2014-12-31$0
Were there any nonexempt tranactions with any party-in-interest2014-12-31No
Contributions received from participants2014-12-31$165,245
Participant contributions at end of year2014-12-31$26,504
Participant contributions at beginning of year2014-12-31$29,292
Other income not declared elsewhere2014-12-31$2,270
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2014-12-31No
Value of net income/loss2014-12-31$155,211
Value of net assets at end of year (total assets less liabilities)2014-12-31$1,049,559
Value of net assets at beginning of year (total assets less liabilities)2014-12-31$894,348
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2014-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2014-12-31No
Were any leases to which the plan was party in default or uncollectible2014-12-31No
Value of interest in pooled separate accounts at end of year2014-12-31$875,603
Value of interest in pooled separate accounts at beginning of year2014-12-31$730,971
Interest on participant loans2014-12-31$1,347
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2014-12-31$147,452
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2014-12-31$134,085
Net investment gain/loss from pooled separate accounts2014-12-31$69,020
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2014-12-31No
Was there a failure to transmit to the plan any participant contributions2014-12-31No
Has the plan failed to provide any benefit when due under the plan2014-12-31No
Contributions received in cash from employer2014-12-31$15
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2014-12-31$58,413
Contract administrator fees2014-12-31$24,273
Did the plan have assets held for investment2014-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2014-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2014-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2014-12-31Yes
Opinion of an independent qualified public accountant for this plan2014-12-31Disclaimer
Accountancy firm name2014-12-31KOBAYASHI, KANETOKU, DOI, LUM
Accountancy firm EIN2014-12-31990292355
2013 : THE ART SOURCE 401(K) PROFIT SHARING PLAN 2013 401k financial data
Total income from all sources (including contributions)2013-12-31$282,347
Total of all expenses incurred2013-12-31$196,960
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2013-12-31$181,373
Total contributions o plan (from employers,participants, others, non cash contrinutions)2013-12-31$135,788
Value of total assets at end of year2013-12-31$894,348
Value of total assets at beginning of year2013-12-31$808,961
Total of administrative expenses incurred including professional, contract, advisory and management fees2013-12-31$15,587
Total interest from all sources2013-12-31$2,268
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2013-12-31No
Was this plan covered by a fidelity bond2013-12-31Yes
Value of fidelity bond cover2013-12-31$100,000
If this is an individual account plan, was there a blackout period2013-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2013-12-31$0
Were there any nonexempt tranactions with any party-in-interest2013-12-31No
Contributions received from participants2013-12-31$135,788
Participant contributions at end of year2013-12-31$29,292
Participant contributions at beginning of year2013-12-31$42,990
Participant contributions at beginning of year2013-12-31$4,276
Other income not declared elsewhere2013-12-31$2,227
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2013-12-31No
Value of net income/loss2013-12-31$85,387
Value of net assets at end of year (total assets less liabilities)2013-12-31$894,348
Value of net assets at beginning of year (total assets less liabilities)2013-12-31$808,961
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2013-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2013-12-31No
Were any leases to which the plan was party in default or uncollectible2013-12-31No
Value of interest in pooled separate accounts at end of year2013-12-31$730,971
Value of interest in pooled separate accounts at beginning of year2013-12-31$630,976
Interest on participant loans2013-12-31$2,268
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2013-12-31$134,085
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2013-12-31$130,719
Net investment gain/loss from pooled separate accounts2013-12-31$142,064
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2013-12-31No
Was there a failure to transmit to the plan any participant contributions2013-12-31No
Has the plan failed to provide any benefit when due under the plan2013-12-31No
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2013-12-31$181,373
Contract administrator fees2013-12-31$15,587
Did the plan have assets held for investment2013-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2013-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2013-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2013-12-31Yes
Opinion of an independent qualified public accountant for this plan2013-12-31Disclaimer
Accountancy firm name2013-12-31KOBAYASHI, KANETOKU, DOI, LUM
Accountancy firm EIN2013-12-31990292355

Form 5500 Responses for THE ART SOURCE 401(K) PROFIT SHARING PLAN

2015: THE ART SOURCE 401(K) PROFIT SHARING PLAN 2015 form 5500 responses
2015-01-01Type of plan entitySingle employer plan
2015-01-01Submission has been amendedYes
2015-01-01This submission is the final filingYes
2015-01-01This return/report is a short plan year return/report (less than 12 months)Yes
2015-01-01Plan funding arrangement – InsuranceYes
2015-01-01Plan funding arrangement – TrustYes
2015-01-01Plan benefit arrangement – InsuranceYes
2015-01-01Plan benefit arrangement - TrustYes
2014: THE ART SOURCE 401(K) PROFIT SHARING PLAN 2014 form 5500 responses
2014-01-01Type of plan entitySingle employer plan
2014-01-01Plan funding arrangement – InsuranceYes
2014-01-01Plan funding arrangement – TrustYes
2014-01-01Plan benefit arrangement – InsuranceYes
2014-01-01Plan benefit arrangement - TrustYes
2013: THE ART SOURCE 401(K) PROFIT SHARING PLAN 2013 form 5500 responses
2013-01-01Type of plan entitySingle employer plan
2013-01-01Plan funding arrangement – InsuranceYes
2013-01-01Plan funding arrangement – TrustYes
2013-01-01Plan benefit arrangement – InsuranceYes
2013-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

TRANSAMERICA LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 86231 )
Policy contract number800200
Policy instance 1
Insurance contract or identification number800200
Number of Individuals Covered0
Insurance policy start date2015-01-01
Insurance policy end date2015-04-30
Total amount of commissions paid to insurance brokerUSD $876
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $876
Insurance broker organization code?3
Insurance broker nameRONALD D CRAIG
TRANSAMERICA LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 86231 )
Policy contract number800200
Policy instance 1
Insurance contract or identification number800200
Number of Individuals Covered211
Insurance policy start date2014-01-01
Insurance policy end date2014-12-31
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Insurance broker organization code?3
Insurance broker nameRONALD D CRAIG
TRANSAMERICA LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 86231 )
Policy contract number800200
Policy instance 1
Insurance contract or identification number800200
Total amount of commissions paid to insurance brokerUSD $2,082
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Commission paid to Insurance BrokerUSD $2,082
Insurance broker organization code?3
Insurance broker nameRONALD D CRAIG

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