2023 Form 5500 filing — Rapid Financial Services, LLC 401(K) Retirement Plan
Plain-English filing summary
According to public Form 5500 filings published through the U.S. Department of Labor (DOL) Employee Benefits Security Administration (EBSA) via the EFAST2 system, this is the 2023 Form 5500 filing (EFAST2 acknowledgement 20240130100054NAL0039347474001) for Rapid Financial Services, LLC 401(K) Retirement Plan, reported by Rapid Financial Services, LLC under EIN 27-1333844 and plan number 001. It reports 197 participants. Attached schedules in the loaded dataset include Schedule H (large plan financials), Schedule C (service provider compensation).
- EFAST2 acknowledgement
- 20240130100054NAL0039347474001
- Filing year
- 2023
- Form type
- 2
- Plan sponsor
- Rapid Financial Services, LLC
- EIN
- 27-1333844
- Plan number
- 001
- Location
- Bethesda, MD
- Participants
- 197
- Schedules available
- Schedule H, Schedule C
- Received date
- not reported in the loaded dataset
Reported financial snapshot (2023)
- Total assets (EOY)
- $16,639,619
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $16,639,619
- Employer contributions
- $714,272
- Participant contributions
- $1,768,675
- Total income / additions
- $5,291,978
- Benefits paid
- $3,274,682
- Administrative expenses
- $132,083
- Total expenses
- $3,406,765
- Net increase / (decrease)
- $1,885,213
- Schedule source
- Schedule H
Reported service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. |
|---|---|---|---|
| Principal Life Insurance Company | CONTRACT ADMINISTRATOR | $132,083 | $0 |
| Principal Life Insurance Company | CONTRACT ADMINISTRATOR | $50,630 | $0 |
| S B H U Life Agency Inc | INVESTMENT ADVISOR (PLAN | $0 | $34,101 |
| S B H U Life Agency Inc | OTHER SERVICES | $0 | $7,539 |
| Coastal Pension Services | THIRD PARTY ADMIN | $0 | $6,820 |
| Coastal Pension Services Inc | OTHER SERVICES | $0 | $2,787 |
| Wilshire Associates Incorporated | INVESTMENT ADVISORY | $0 | $0 |