Summary by Futu AI
JPMorgan Chase & Co. has filed an amendment to its annual report on Form 11-K for the fiscal year ended December 31, 2023. The amendment, filed on June 27, 2024, addresses delinquent participant contributions related to off-cycle pay periods for the years 2021 and 2022 that were not previously reported in the original Form 11-K. The audit scope has been expanded to include these additional delinquent contributions, and the company has updated its operational process to prevent future occurrences as of July 1, 2024. The financial statements present the net assets available for benefits as of December 31, 2023, and 2022, and the changes in net assets available for benefits for the years then ended. The report includes a detailed description of the JPMorgan Chase 401(k) Savings Plan, its investment program, and various financial instruments involved. The investments at fair value totaled approximately $40.13 billion, with synthetic guaranteed investment contracts amounting to approximately $2.43 billion. The report also includes a schedule of delinquent participant contributions for the years 2021, 2022, and 2023, which have been fully corrected under the Voluntary Fiduciary Correction Program and Prohibited Transaction Exemption 2002-51.