Employers › Finlayson Bancshares
Recordkeeping fees per participant · Finlayson Bancshares, Inc. ESOP With 401(k) Provisions · plan year 2024
$20.99
Higher than 20% of the 14,075 plans $10 to 50M that report it.
= $5,100 / 243
Schedule H, line 2i(3); OTH_RECORDKEEPING_FEES_AMT pos 160; filing 20251015081744NAL0005660544001, received 2025-10-15
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251015081744NAL0005660544001, received 2025-10-15
Percentiles compare this plan with the Schedule H plans $10 to 50M in assets of the same plan year, excluding final filings; shown only where at least 50 comparable plans report the figure. Plan year 2024-01-01 to 2024-12-31, filing received 2025-10-15.
Administrative expenses excluding investment management, per participant
$227.51
Higher than 78% of the 24,371 plans $10 to 50M that report it.
= $55,285 / 243
derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20251015081744NAL0005660544001, received 2025-10-15
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251015081744NAL0005660544001, received 2025-10-15
Administrative expenses per participant
$227.51
Higher than 57% of the 25,098 plans $10 to 50M that report it.
= $55,285 / 243
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20251015081744NAL0005660544001, received 2025-10-15
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251015081744NAL0005660544001, received 2025-10-15
Administrative expenses as a share of assets
0.195%
Higher than 34% of the 25,132 plans $10 to 50M that report it.
= $55,285 / $28,307,962
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20251015081744NAL0005660544001, received 2025-10-15
assets_eoy: Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20251015081744NAL0005660544001, received 2025-10-15
Employer contributions per participant
$1,785
Higher than 41% of the 24,050 plans $10 to 50M that report it.
= $433,732 / 243
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20251015081744NAL0005660544001, received 2025-10-15
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251015081744NAL0005660544001, received 2025-10-15
Employer share of total contributions
30.6%
Higher than 60% of the 24,084 plans $10 to 50M that report it.
= $433,732 / $1,418,116
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20251015081744NAL0005660544001, received 2025-10-15
total_contrib: Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20251015081744NAL0005660544001, received 2025-10-15
Plan terms are not published in public filings.
2E profit-sharing · 2F ERISA 404(c) plan · 2G fully participant-directed · 2J 401(k) feature · 2K 401(m) arrangement · 2Q · 2S pre-approved plan document · 2T default investment (QDIA) · 3H controlled-group sponsor · Form 5500, line 8a; TYPE_PENSION_BNFT_CODE pos 81; filing 20251015081744NAL0005660544001, received 2025-10-15
| Field | Value | Source |
|---|---|---|
| Plan sponsor | FINLAYSON BANCSHARES, INC. | Form 5500, Part II line 2a; SPONSOR_DFE_NAME pos 19; filing 20251015081744NAL0005660544001, received 2025-10-15 |
| Plan name | FINLAYSON BANCSHARES, INC. ESOP WITH 401K PROVISIONS | Form 5500, line 1a; PLAN_NAME pos 16; filing 20251015081744NAL0005660544001, received 2025-10-15 |
| Sponsor EIN / plan number | 41-1396929 / 001 | Form 5500, line 2b; SPONS_DFE_EIN pos 44; filing 20251015081744NAL0005660544001, received 2025-10-15 |
| Plan type | single-employer | Form 5500, Part I line A; TYPE_PLAN_ENTITY_CD pos 4; filing 20251015081744NAL0005660544001, received 2025-10-15 |
| Sponsor location | FINLAYSON, MN | Form 5500, line 2a; SPONS_DFE_MAIL_US_STATE pos 25; filing 20251015081744NAL0005660544001, received 2025-10-15 |
| Industry (business code) | 551111, Management of companies and enterprises | Form 5500, line 2d; BUSINESS_CODE pos 46; filing 20251015081744NAL0005660544001, received 2025-10-15 |
| Plan year | 2024-01-01 to 2024-12-31 | Form 5500, Part I plan year; FORM_PLAN_YEAR_BEGIN_DATE pos 2; filing 20251015081744NAL0005660544001, received 2025-10-15 |
| Filing received | 2025-10-15 | Form 5500, EFAST2 receipt date; DATE_RECEIVED pos 102; filing 20251015081744NAL0005660544001, received 2025-10-15 |
| Final filing | no | Form 5500, Part I line B; FINAL_FILING_IND pos 8; filing 20251015081744NAL0005660544001, received 2025-10-15 |
| Amended filing | no | Form 5500, Part I line B; AMENDED_IND pos 7; filing 20251015081744NAL0005660544001, received 2025-10-15 |
| Participants, beginning of year | 243 | Form 5500, line 5; TOT_PARTCP_BOY_CNT pos 71; filing 20251015081744NAL0005660544001, received 2025-10-15 |
| Active participants | 187 | Form 5500, line 6a(2); TOT_ACTIVE_PARTCP_CNT pos 72; filing 20251015081744NAL0005660544001, received 2025-10-15 |
| Participants, end of year | 247 | Form 5500, line 6f; TOT_ACT_RTD_SEP_BENEF_CNT pos 77; filing 20251015081744NAL0005660544001, received 2025-10-15 |
| Participants with an account balance | 243 | Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251015081744NAL0005660544001, received 2025-10-15 |
| Total assets, beginning of year | $30,040,743 | Schedule H, Part I line 1f col (a); TOT_ASSETS_BOY_AMT pos 30; filing 20251015081744NAL0005660544001, received 2025-10-15 |
| Total assets, end of year | $28,307,962 | Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20251015081744NAL0005660544001, received 2025-10-15 |
| Net assets, end of year | $28,307,962 | Schedule H, line 1l col (b); NET_ASSETS_EOY_AMT pos 67; filing 20251015081744NAL0005660544001, received 2025-10-15 |
| Total income | $3,572,539 | Schedule H, Part II line 2d; TOT_INCOME_AMT pos 97; filing 20251015081744NAL0005660544001, received 2025-10-15 |
| Net income | $-1,732,781 | Schedule H, line 2k; NET_INCOME_AMT pos 111; filing 20251015081744NAL0005660544001, received 2025-10-15 |
| Employer contributions | $433,732 | Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20251015081744NAL0005660544001, received 2025-10-15 |
| Participant contributions | $795,860 | Schedule H, line 2a(1)(B); PARTICIPANT_CONTRIB_AMT pos 69; filing 20251015081744NAL0005660544001, received 2025-10-15 |
| Other contributions (incl. rollovers) | $188,524 | Schedule H, line 2a(1)(C); OTH_CONTRIB_RCVD_AMT pos 70; filing 20251015081744NAL0005660544001, received 2025-10-15 |
| Total contributions | $1,418,116 | Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20251015081744NAL0005660544001, received 2025-10-15 |
| Benefit payments | $5,250,035 | Schedule H, line 2e(4); TOT_DISTRIB_BNFT_AMT pos 101; filing 20251015081744NAL0005660544001, received 2025-10-15 |
| Total expenses (incl. benefit payments) | $5,305,320 | Schedule H, line 2j; TOT_EXPENSES_AMT pos 110; filing 20251015081744NAL0005660544001, received 2025-10-15 |
| Total administrative expenses | $55,285 | Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20251015081744NAL0005660544001, received 2025-10-15 |
| Recordkeeping fees | $5,100 | Schedule H, line 2i(3); OTH_RECORDKEEPING_FEES_AMT pos 160; filing 20251015081744NAL0005660544001, received 2025-10-15 |
| Administrative expenses excluding investment management | $55,285 | derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20251015081744NAL0005660544001, received 2025-10-15 |
| Held in common/collective trusts | $499,265 | Schedule H, line 1c(9) col (b); INT_COMMON_TR_EOY_AMT pos 51; filing 20251015081744NAL0005660544001, received 2025-10-15 |
| Held in mutual funds | $13,099,399 | Schedule H, line 1c(13) col (b); INT_REG_INVST_CO_EOY_AMT pos 55; filing 20251015081744NAL0005660544001, received 2025-10-15 |
| Independent auditor | EIDE BAILLY | Schedule H, Part III line 3a; ACCOUNTANT_FIRM_NAME pos 116; filing 20251015081744NAL0005660544001, received 2025-10-15 |
Position = column in the DOL layout for form year 2024. Filing 20251015081744NAL0005660544001, received 2025-10-15.
| Provider | Relationship | Service codes | Direct compensation | Indirect |
|---|---|---|---|---|
| BENEFIT PLAN ADMIN SERVICESrecordkeeper | SERVICE PROVIDER | 17 Consulting (pension); 27 Investment advisory (plan); 51 Investment management fees paid directly by plan; 19 Custodial (securities); 38 Participant communication; 52 Investment management fees paid indirectly by plan; 25 Trustee (directed); 50 Direct payment from the plan; 64 Recordkeeping fees | $39,783 | yes |
| IMPACT RETIREMENT ADVISORS | INVESTMENT ADVISOR | 27 Investment advisory (plan) | $19,655 | no |
Schedule C Part I line 2: name (a), service codes (b), relationship (c), direct compensation paid by the plan (d), indirect compensation received (e). Filing 20251015081744NAL0005660544001, received 2025-10-15.
| Figure | 2023 | 2024 | Change |
|---|---|---|---|
| Total assets | $30,040,743 | $28,307,962 | -5.8% |
| Participants with a balance | 239 | 243 | 1.7% |
| Administrative expenses | $44,416 | $55,285 | 24.5% |
| Recordkeeping fees per participant | $19.48 | $20.99 | 7.8% |
| Employer contributions | $412,347 | $433,732 | 5.2% |
Prior filing 20241011115415NAL0012445699001, received 2024-10-11; the plan years are contiguous.
Sponsor name as filed: FINLAYSON BANCSHARES, INC.; SEC registrant: Finlayson Bancshares, Inc. (CIK 2127904, matched by EIN).