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An employee plan or trust filing

of the Government, and will be

is permitted the tax year requested on

Form 5308, Request for Change in

approved only in unusual and

Form 2553. See line 2 of Part II on

Plan/Trust Year, to change its plan or

compelling circumstances.

Form 1128. Do not file Form 1128

trust year.

with the above address for automatic

Under either circumstance, an

approval requests. For information on

extension request must be filed under

When To File

where to file Form 2553, see the

Procedure and Administration

Instructions for Form 2553.

Regulations section 301.9100-3 and

Tax Year Adoption, Change,

is a ruling request under Rev. Proc.

Do not file a request for

2007-7, 2007-1 I.R.B. 1 (updated

or Retention

automatic approval with either

annually), and is subject to public

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address below. Doing so will

To request a ruling to adopt,

CAUTION

inspection under section 6110. See

result in a significant delay in the

change, or retain a tax year, file Form

section 7 of Rev. Proc. 2007-1 for

processing of your request.

1128 by the due date (not including

information on requesting a ruling.

extensions) of the federal income tax

Part III—Ruling Request

Note. An extension request under

return for the first effective year. Do

Rev. Proc. 2007-1 (or its successor)

If Part III (ruling request) applies to

not file earlier than the day following

requires payment of a user fee.

the applicant, file Form 1128 and the

the end of the first effective year. In

appropriate user fee with the IRS

the case of a change in tax year, the

Early Applications

National Office. Mail Form 1128 to:

first effective year is the short period

required to effect the change.

Generally, an application to adopt or

Internal Revenue Service

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To request automatic approval to

change a tax year will not be

Associate Chief Counsel (Income

change a tax year under Rev. Proc.

considered if it is submitted before

Tax and Accounting)

2006-45 (Part II, Section A) or Rev.

the end of the short period.

Attention: CC:PA:LPD:DRU

Proc. 2006-46 (Part II, Section B), file

P.O. Box 7604

Where To File

by the due date of the return

Ben Franklin Station

(including extensions) for the short

Washington, DC 20044-7604

period required to effect the change.

Part II—Automatic Approval

The IRS will acknowledge receipt

A Form 1128 filed by a controlling

Request

of the application within 45 days. You

U.S. shareholder (or its common

can inquire about the status of the

If Part II (automatic approval request)

parent) on behalf of a CFC or 10/50

application by writing to:

applies to the applicant, file Form

corporation is due no later than the

1128 with the Internal Revenue

due date (including extensions) of

Control Clerk, CC:ITA

Service Center, Attention: Entity

that shareholder’s (or its common

Internal Revenue Service

Control, where the applicant’s income

parent’s) income tax return for its tax

Room 4516

tax return is filed. The applicant also

year which ends in the first effective

1111 Constitution Ave., NW

must attach a copy of Form 1128 to

year of the CFC or 10/50 corporation.

Washington, DC 20224-0002

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the federal income tax return filed for

For an individual filing to change to

The applicant will receive

the short period required to effect the

a calendar year under Rev. Proc.

notification of its approval or denial. If

change.

2003-62, 2003-32 I.R.B. 299 (Part II,

no communication is received from

Section C), Form 1128 must be filed

CFC and 10/50 corporation. The

the IRS regarding the application

controlling U.S. shareholder(s) who

on or before the due date (including

within 90 days, contact the Control

retains the jointly executed consent

extensions) for filing the federal

Clerk.

described in Temporary Regulations

income tax return for the short period

Exempt organizations requesting a

required to effect the change.

section 1.964-1T(c)(3)(ii) files the

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ruling should send Form 1128 and

To change a tax year under Rev.

form on behalf of the CFC or the 10/

the application user fee to:

Proc. 85-58 (Part II, Section D), file

50 corporation with its tax return for

by the 15th day of the 5th calendar

the tax year which ends in the first

Internal Revenue Service

month after the end of the short

effective year of the CFC or the 10/50

Attention: EO Letter Rulings

period.

corporation. The controlling U.S.

P.O. Box 27720

shareholder(s) must meet the

McPherson Station

Late Applications

requirements of Temporary

Washington, DC 20038

Regulations section 1.964-1T(c)(3).

Generally, an application filed after

You can inquire about the status of

The other controlling U.S.

the appropriate due date stated

an application for exempt

shareholder(s) or the common parent

above is considered late.

organizations by calling

should attach a copy of the form to its

1-877-829-5500.

However, applications filed within

income tax return for the tax year

90 days after the due date may be

which ends in the tax year of the

Who Must Sign

considered as timely filed under

shareholder who completed the form.

Regulations section 301.9100-1 when

Applications prior to an election to

Except as discussed below

the applicant establishes that:

become an S corporation. If a

(regarding certain foreign

1. The taxpayer acted reasonably

corporation is requesting to change

corporations), Form 1128 must be

and in good faith and

its tax year prior to making an

signed by the applicant as discussed

2. Granting relief will not prejudice

election to become an S corporation

below. A valid signature by the

the interests of the government.

and the requested tax year is a

individual or an officer of the

permitted tax year for S corporations

organization is required on Form

Applications that are filed more

(for example, a calendar tax year), file

1128. If the form does not have a

than 90 days after the due date are

Form 1128 as an attachment to Form

valid signature, it will not be

presumed to jeopardize the interests

2553 to ensure that the S corporation

considered.

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Instructions For Form 1128 - Application To Adopt, Change, Or Retain A Tax Year - 2007 Page 2

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