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FORM 5500 DATA

ANI Pharmaceuticals, Inc. 401k Plan

Overview

Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan01/01/2008
  • Net Assets as of 12/31/2019 $11,023,862
  • Plan Number1
  • Plan Type Single Employer
  • Is the plan collectively bargained? No
  • Did the plan file for an extension of time or the DFVC Program?Yes
  • Plan Funding Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 12/31/2019

  • Active (Eligible) Participants223
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits23
  • Subtotal246
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits1
  • Total247
  • Total number of participants as of 01/01/2019207
  • Number of participants with account balances238
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested0

Expenses

  • Total Benefit Payments$0
  • Corrective Distributions$0
  • Administrative Service Providers$0
  • Other Expenses$0
  • Total Expenses$0
  • Total Transfers$0

Sponsor Information

  • AddressPo Box 370
  • CityBaudette
  • StateMN
  • Zip56623-2457
  • Telephone(218) 634-3660
  • EIN20-0808920
  • Industry Code424210
  • Named AdministratorSherri Bitter

Audit Information

  • Audit StatusAudited
  • AuditorCliftonlarsonallen LLP
  • Auditor EIN41-0746749
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope Audit

Benefits Provided Under the Plan

Code Benefit Description
2E Profit-sharing A defined contribution plan that allows employer discretionary contributions. These plans often contain a 401(k) feature.
2F ERISA section 404(c) Plan This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
2G Total participant-directed account plan Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J Code section 401(k) feature A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
2K Code section 401(m) arrangement Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contributions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
2S Automatic Enrollment Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
2T Participant-directed Account Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
3D Master plan A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion letter; and for which a single funding medium (for example, a trust or custodial account) is established for the joint use of all adopting employers.

Questions and Answers

Question Answer Amount
During the plan year did the employer fail to transmit to the plan any participant contributions within the time period described in 29 CFT 2510.3-102? No
Were any loans by the plan or fixed income obligations due the plan in default as of the close of plan year or classified during the year as uncollectible? Disregard participant loans secured by participant's account balance. No
Were any leases to which the plan was a party in default or classified during the year as uncollectible? No
Were there any nonexempt transactions with any party-in-interest? No
Was this plan covered by a fidelity bond? Yes $2,000,000
Did the plan have a loss, whether or not reimbursed by the plan's fidelity bond, that was caused by fraud or dishonesty? No
Did the plan hold any assets whose current value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan receive any noncash contributions whose value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan have assets held for investment? Yes
Were any plan transactions or series of transactions in excess of 5% of the current value of plan assets? No
Were all the plan assets either distributed to participants or beneficiaries, transferred to another plan, or brought under the control of the PBGC? No
Has the plan failed to provide any benefit when due under the plan? No
If this is an individual account plan, was there a blackout period? No
If there was a blackout period, have you either provided the required notice or one of the exceptions to providing the notice applied under 29 CFR 2520.101-3? No

Financials

Income and Expense Statement

Income $3,920,325
Contributions $1,931,490
Cash Contributions $1,931,490
Cash from Employers $547,458
Cash from Participants $1,251,622
Others (including rollovers) $132,410
Noncash Contributions $0
Total Earnings on Investments $1,988,835
Total Interest $9,347
Interest-Bearing Cash $911
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $8,436
Interest from Other Investments $0
Total Dividends $535,442
Preferred Stock $0
Common Stock $0
Rents $0
Net gain (loss) on sale of assets $0
Aggregate Proceeds $0
Aggregate Carrying Amount $0
Total Unrealized Appreciation (depreciation) of assets $0
Real Estate $0
Other $0
Net investment gain (loss) from common/collective trusts $0
Net investment gain (loss) from pooled separate accounts $0
Net investment gain (loss) from master trust investment accounts $0
Net investment gain (loss) from 103-12 investment entities $0
Net investment gain (loss) from registered investment companies $1,444,046
Other Income $0
Expenses $749,136
Total Benefit Payments $742,183
Directly to participants or beneficiaries, including direct rollovers $742,183
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $4,422
Interest expense $0
Total Administrative Expenses $2,531
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $2,531
Net Income $3,171,189
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2019 12/31/2018 Change YOY
Total Assets $11,023,862 $7,852,673 40.38%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $0 $0 0.0%
Employer Contributions $0 $0 0.0%
Participant Contributions $0 $0 0.0%
Other Contributions $0 $0 0.0%
General Investments $157,782 $822 19094.89%
Interest-bearing cash $157,782 $822 19094.89%
U.S. Government Securities $0 $0 0.0%
Corporate Debt Instruments $0 $0 0.0%
Preferred $0 $0 0.0%
All Other $0 $0 0.0%
Corporate Stocks $0 $0 0.0%
Preferred $0 $0 0.0%
Common $0 $0 0.0%
Partnership/joint venture interests $0 $0 0.0%
Real estate (other than employer real property) $0 $0 0.0%
Loans (other than to participants) $0 $0 0.0%
Participants Loans $162,310 $162,529 -0.13%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $0 $0 0.0%
Value of interest in master trust investment accounts $0 $0 0.0%
Value of interest in 103-12 investment entities $0 $0 0.0%
Value of interest in registered investment companies $10,703,770 $7,689,322 39.20%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $0 $0 0.0%
Employer-related Investments $0 $0 0.0%
Employer Securities $0 $0 0.0%
Employer Real Property $0 $0 0.0%
Buildings and other property used in plan operation $0 $0 0.0%
Total Liabilities $0 $0 0.0%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $0 $0 0.0%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $11,023,862 $7,852,673 40.38%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Fidelity Investments Institutional

Other Service Providers Receiving Direct or Indirect Compensation

Name Nature of Service Relationship to Plan Sponsor Direct Compensation Paid by Plan Indirect Compensation Paid by Plan Total Compensation
Wells Fargo Clearing Services LLC Other commissions Advisor $0 $43,950 $43,950
Fidelity Investments Institutional Participant loan processing, Sub-transfer agency fees, Recordkeeping fees, Account maintenance fees Recordkeeper $2,531 $0 $2,531
Total $2,531 $43,950 $46,481

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Fidelity Investments Institutional Ab Global Bond R - Alliancebernste Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional Af New World R3 - American Funds S Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Ev Inc Fd Boston R - Bny Mellon In Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional Gs Intl Eq Ins R - Goldman Sachs & Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional Htfd Intl Opps R3 - Hartford Admin Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional I O Ms Mid Cap R - Invesco Investm Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional Invs Divrs Dividnd R - Invesco Inv Sub-transfer agency fees 0.35% $0
Fidelity Investments Institutional J H Enterprise R - Janus Services Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional Jpm Sm Cap Value R2 - Dst Asset Ma Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional Jpm Us Small Co R2 - Dst Asset Man Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional Mfs Emrg Mkt Debt R2 - Mfs Service Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Mfs Mid Cap Value R2 - Mfs Service Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Mfs Value R2 - Mfs Service Center Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Trp Blue Chip Grth R - T. Rowe Pri Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Vrs Small Cap Grth R - Fis Investo Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Wa Core Bond R - Bny Mellon Invest Sub-transfer agency fees 0.25% $0
Wells Fargo Clearing Services LLC National Financial Services LLC Other commissions $43,950
*As outlined by the Form 5500 Instructions for service providers with indirect compensation.

Service Providers Who Fail or Refuse to Provide Information

There are no service providers who failed or refused to provide information.

Termination Information on Accountants and Enrolled Actuaries

There is no termination information for this plan.

Investments

Investments

No investments information available for this plan.

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.