80-120 Exception for new plan

[Guest 401karl]

We have a new plan (no previous 5500) as of 1/1/08 and the total eligible participants as of 1/1/08 is 116. Does the 80-120 exception apply to file as a small plan or does it only apply for a plan to continue a previous years filing status?

[rcline46]

The rule only applies to an existing plan. It does not apply to a new plan.