2023 Form 5500 filing — Driven Brands, Inc. Employee Retirement Savings 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 20241003084337NAL0010296817001) for Driven Brands, Inc. Employee Retirement Savings Plan, reported by Driven Brands Inc. under EIN 20-0381531 and plan number 003. It reports 7,859 participants. Attached schedules in the loaded dataset include Schedule H (large plan financials), Schedule C (service provider compensation).
- EFAST2 acknowledgement
- 20241003084337NAL0010296817001
- Filing year
- 2023
- Form type
- 2
- Plan sponsor
- Driven Brands Inc.
- EIN
- 20-0381531
- Plan number
- 003
- Location
- Charlotte, NC
- Participants
- 7,859
- Schedules available
- Schedule H, Schedule C
- Received date
- not reported in the loaded dataset
Reported financial snapshot (2023)
- Total assets (EOY)
- $66,241,465
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $66,241,465
- Employer contributions
- $4,958,352
- Participant contributions
- $9,152,284
- Total income / additions
- $26,504,788
- Benefits paid
- $9,255,457
- Administrative expenses
- $301,236
- Total expenses
- $10,440,033
- Net increase / (decrease)
- $16,064,755
- Schedule source
- Schedule H
Reported service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. |
|---|---|---|---|
| Principal Life Insurance Company | CONTRACT ADMINISTRATOR | $268,492 | $0 |
| Ubs Financial Services Inc | INVESTMENT ADVISORY | $0 | $48,000 |
| Duffy Kruspodin, Llp | ACCOUNTANT | $27,200 | not reported in the loaded dataset |