First 5500 for 3-year old Solo 401(k). Beginning assets to report?

[401king]

A Solo 401(k) Plan effective 1/1/2017 crossed the $250k threshold as of 12/31/2020. 

When reporting on the Form 5500-EZ for 2020:

The plan year will be 1/1/2020 - 12/31/2020. (not the effective date through 12/31/2020, right?)

The beginning assets are actual assets on 1/1/2020 (as opposed to potentially $0 assets because it's the first return). 

Thanks!

[Lou S.]

Effective date would be 1/1/2017

Assets at BOY would be assets as of 1/1/2020*.

Plan year would be 1/1/2020 - 12/31/2020.

*filing can be on cash or accrual basis as long as you are consistent going forward.