2023 Form 5500 filing — Independence Bancshares, Inc. Employee Stock Ownership Plan (With 401(K) Provisions)
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 20241015170157NAL0015130483001) for Independence Bancshares, Inc. Employee Stock Ownership Plan (With 401(K) Provisions), reported by Independence Bancshares, Inc. under EIN 61-0955447 and plan number 002. It reports 632 participants. Attached schedules in the loaded dataset include Schedule H (large plan financials), Schedule C (service provider compensation).
- EFAST2 acknowledgement
- 20241015170157NAL0015130483001
- Filing year
- 2023
- Form type
- 2
- Plan sponsor
- Independence Bancshares, Inc.
- EIN
- 61-0955447
- Plan number
- 002
- Location
- Owensboro, KY
- Participants
- 632
- Schedules available
- Schedule H, Schedule C
- Received date
- not reported in the loaded dataset
Reported financial snapshot (2023)
- Total assets (EOY)
- $82,783,822
- Total liabilities (EOY)
- $2,439,273
- Net assets (EOY)
- $80,344,549
- Employer contributions
- $863,003
- Participant contributions
- $2,790,813
- Total income / additions
- $2,099,948
- Benefits paid
- $9,138,703
- Administrative expenses
- $126,024
- Total expenses
- $9,264,727
- Net increase / (decrease)
- -$7,164,779
- Schedule source
- Schedule H
Reported service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. |
|---|---|---|---|
| Independence Bank | OTHER SERVICES | $89,918 | not reported in the loaded dataset |
| Principal Life Insurance Company | CONTRACT ADMINISTRATOR | $36,104 | $0 |
| Morningstar Investment Management L | INV ADV, PARTICIPANTS | $0 | $0 |
| Wilshire Advisors LLC | INVESTMENT ADVISORY | $0 | $0 |