5500 filed last year but number of account balances now under 100

[Pixie]

I was looking at the rules for when you can switch from the full 5500 to a 5500-SF.  It seems like, under the new rules, if the number of account balances is under 100 as of the first day of the plan year, the client can file a 5500-SF for that plan year.  Any input would be greatly appreciated.

[Nichol C]

You’re reading it correctly. Under the updated rules, a plan can file the 5500-SF if it has fewer than 100 participants with account balances on the first day of the plan year.

The only other things I’d check are whether the plan falls into a category that still requires the full 5500... For example, being part of a pooled employer arrangement or holding employer securities.