switching from 5500-SF to full 5500

Client has 105 account balances (125 participants) at the beginning of the plan year.  I am assuming we can use the 80-120 rule to continue filing the 5500-SF until the number of account balances exceeds 120 as of the beginning of the plan year.  Any input would be greatly appreciated.

2 hours ago, Pixie said:

Client has 105 account balances (125 participants) at the beginning of the plan year.  I am assuming we can use the 80-120 rule to continue filing the 5500-SF until the number of account balances exceeds 120 as of the beginning of the plan year.  Any input would be greatly appreciated.

Im assuming this is not the first year filing a return for the plan, and you filed an SF for the prior year?

If so, you can continue to file an SF until you cover more than 120 participants and meet the other eligibility conditions (total of eight conditions).  See instructions to the 5500-SF, page 3, Who May File Form 5500-SF, for all conditions.