2023 Form 5500 filing — Magyar Bank Employee Stock Ownership 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 20241015161128NAL0030296417001) for Magyar Bank Employee Stock Ownership Plan, reported by Magyar Bank under EIN 22-1085787 and plan number 004. It reports 103 participants. Attached schedules in the loaded dataset include Schedule I (small plan financials).
Form 5500 2 · 2023
Filing snapshot
Net assets (EOY)$2.3MReported net assets$2,265,493
Participants103
Provider compensationNone reported
Schedules filedSchedule ILoaded schedules
- EFAST2 acknowledgement
- 20241015161128NAL0030296417001
- Plan sponsor
- Magyar Bank
- EIN
- 22-1085787
- Plan number
- 004
- Location
- New Brunswick, NJ
- Received date
- not reported in the loaded dataset
Schedule I · 2023
Reported financial snapshot
Reported figures as filed, in whole dollars. Only fields the filing reports are shown.
Reported balance (end of year)$5.3M total assets
Net assets$2.3MLiabilities$3M
Full reported line items
- Total assets (EOY)
- $5,312,870
- Total liabilities (EOY)
- $3,047,377
- Net assets (EOY)
- $2,265,493
- Employer contributions
- $141,102
- Participant contributions
- $0
- Total income / additions
- -$540,768
- Benefits paid
- $131,886
- Administrative expenses
- $0
- Total expenses
- $234,104
- Net increase / (decrease)
- -$774,872