Banks Construction Company Profit Sharing /401(K) Plan — Form 5500 plan (Banks Construction Company)
Plain-English plan 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, Banks Construction Company Profit Sharing /401(K) Plan is a benefit plan reported by Banks Construction Company under EIN 57-0296227 and plan number 003. The latest loaded filing year is 2023. The filing reports 478 participants and $16,913,316 in end-of-year plan assets, where available in the loaded dataset.
Key reported metrics
- Plan sponsor
- Banks Construction Company
- EIN
- 57-0296227
- Plan number
- 003
- Plan type
- 2
- Location
- North Charleston, SC
- Latest filing year
- 2023
- Participants
- 478
- End-of-year plan assets
- $16,913,316
Form 5500 filing history
| Filing year | Participants | Schedules | Filing |
|---|---|---|---|
| 2023 | 478 | H, C | 20240926122432NAL0000422003001 |
Reported financial statement (2023 · Schedule H)
Net assets
- Total assets (EOY)
- $16,913,316
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $16,913,316
- Net assets (BOY)
- $13,546,915
Income & contributions
- Employer contributions
- $456,049
- Participant contributions
- $1,523,905
- Total contributions
- $2,073,342
- Total income / additions
- $4,444,068
Expenses & distributions
- Benefits paid
- $1,075,868
- Administrative expenses
- $1,300
- Total expenses
- $1,077,667
- Net increase / (decrease)
- $3,366,401
Service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. | Year |
|---|---|---|---|---|
| Fidelity Investments Institutional | RECORDKEEPER | $1,300 | $0 | 2023 |