2023 Form 5500 filing — Canfield Scientific Inc. Profit Sharing 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 20241011155653NAL0022275377001) for Canfield Scientific Inc. Profit Sharing 401(K) Plan, reported by Canfield Scientific, Inc. under EIN 22-2938062 and plan number 001. It reports 325 participants. Attached schedules in the loaded dataset include Schedule H (large plan financials), Schedule C (service provider compensation).
- EFAST2 acknowledgement
- 20241011155653NAL0022275377001
- Filing year
- 2023
- Form type
- 2
- Plan sponsor
- Canfield Scientific, Inc.
- EIN
- 22-2938062
- Plan number
- 001
- Location
- Parsippany, NJ
- Participants
- 325
- Schedules available
- Schedule H, Schedule C
- Received date
- not reported in the loaded dataset
Reported financial snapshot (2023)
- Total assets (EOY)
- $38,171,510
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $38,171,510
- Employer contributions
- $892,416
- Participant contributions
- $1,930,315
- Total income / additions
- $9,363,794
- Benefits paid
- $1,586,705
- Administrative expenses
- $79,673
- Total expenses
- $1,666,378
- Net increase / (decrease)
- $7,697,416
- Schedule source
- Schedule H
Reported service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. |
|---|---|---|---|
| Empower Annuity Insurance Company | RECORDKEEPER | $62,804 | $0 |
| Pks Financial Services Inc | BROKER/ADVISER | $0 | $32,158 |
| Prime Pensions Inc | CONTRACT ADMIN | $16,869 | not reported in the loaded dataset |