As long as your PERM labor cert is filed at least with 365 days to go in your H-1B maximum, you will be eligible for extensions of stay in H-1B status beyond the 6 year maximum, for as long as may be necessary for you to get a green card.
If you are just in your 5th month then you have plenty of time. If you meant that you are in your 5th year, then you should file as soon as possible. Once you have an approved I-140, then you can extend the H-1B beyond the 6 year limit.
In general, it is never too early to start the green card process. We generally recommend to our clients that they commence the green card process by not later than the middle of the fourth year when they have the H1B visa in order that they can take advantage of the extensions that are available under the American competitiveness in the 21st-century act. If you wait until the beginning or middle of the fifth year of your H1B then there may be some issues depending upon the amount of time that you can recapture on your H1B visa. Please note that this information is not legal advice and is provided merely as a courtesy in response to your email question to our office. If you require an a valuation that is specific to your particular circumstances, please feel free to contact our office and schedule initial consultation and one of our lawyers will be happy to assist you.
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