2023 Form 5500 filing — Independent Bank 401(K) 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 20241015133459NAL0014731571001) for Independent Bank 401(K) Plan, reported by Independent Bank under EIN 62-1730983 and plan number 001. It reports 261 participants. Attached schedules in the loaded dataset include Schedule H (large plan financials), Schedule C (service provider compensation).
- EFAST2 acknowledgement
- 20241015133459NAL0014731571001
- Filing year
- 2023
- Form type
- 2
- Plan sponsor
- Independent Bank
- EIN
- 62-1730983
- Plan number
- 001
- Location
- Memphis, TN
- Participants
- 261
- Schedules available
- Schedule H, Schedule C
- Received date
- not reported in the loaded dataset
Reported financial snapshot (2023)
- Total assets (EOY)
- $21,644,711
- Total liabilities (EOY)
- $2,768
- Net assets (EOY)
- $21,641,943
- Employer contributions
- $524,697
- Participant contributions
- $1,386,031
- Total income / additions
- $4,978,494
- Benefits paid
- $1,004,019
- Administrative expenses
- $60,250
- Total expenses
- $1,064,269
- Net increase / (decrease)
- $3,914,225
- Schedule source
- Schedule H
Reported service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. |
|---|---|---|---|
| John Hancock Retirement Plan Servic | CUSTODIAN, RECORDKEEPER | $38,811 | not reported in the loaded dataset |
| Pinpoint Financial, LLC | TPA | $9,248 | not reported in the loaded dataset |
| Culver Pllc | CPA | $8,000 | not reported in the loaded dataset |