2023 Form 5500 filing — Business Impact Group 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 20241014150509NAL0027653105001) for Business Impact Group 401(K) Plan, reported by Business Impact Group, LLC under EIN 20-0826767 and plan number 001. It reports 144 participants. Attached schedules in the loaded dataset include Schedule H (large plan financials), Schedule C (service provider compensation).
- EFAST2 acknowledgement
- 20241014150509NAL0027653105001
- Filing year
- 2023
- Form type
- 2
- Plan sponsor
- Business Impact Group, LLC
- EIN
- 20-0826767
- Plan number
- 001
- Location
- Chanhassen, MN
- Participants
- 144
- Schedules available
- Schedule H, Schedule C
- Received date
- not reported in the loaded dataset
Reported financial snapshot (2023)
- Total assets (EOY)
- $6,621,652
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $6,621,652
- Participant contributions
- $535,477
- Total income / additions
- $1,718,558
- Benefits paid
- $453,739
- Administrative expenses
- $56,976
- Total expenses
- $510,715
- Net increase / (decrease)
- $1,207,843
- Schedule source
- Schedule H
Reported service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. |
|---|---|---|---|
| Principal Life Insurance Company | CONTRACT ADMINISTRATOR | $56,976 | $0 |
| Principal Securities Inc | OTHER SERVICES | $0 | $12,793 |
| Wilshire Advisors LLC | INVESTMENT ADVISORY | $0 | $0 |