Hello,
It is always recommended that you migrate the SEPM and Clients from the SEP 12.1 RTM to SEP 12.1 RU1 and then to SEP 12.1 RU1 MP1
SEP 12.1.671 >> SEP 12.1 RU1 >> SEP 12.1 RU1 MP1
Yes, the clients would be able to report back to the SEPM without any issues upon migration.
1) New fixes and features in Symantec Endpoint Protection 12.1 Release Update 1 Maintenance Patch 1
http://www.symantec.com/docs/TECH187656
2) Upgrading or migrating to Symantec Endpoint Protection 12.1.1101 (RU1 MP1)
http://www.symantec.com/docs/TECH187753
NOTE: About Migration paths
Symantec Endpoint Protection 12.1.1101.401 (RU1 MP1) can migrate seamlessly over the following:
Symantec Endpoint Protection 12.1.1000.157 (RU1)
Hope that helps!!