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the third party’s name and street

Rev. Proc. 2006-46 (pass-through

corporation complying with all the

address or P.O. box.

entities),

applicable provisions of this revenue

•

Rev. Proc. 2003-62 (individuals),

procedure will be deemed to have

Person To Contact

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Rev. Proc. 76-10, 1976-1 C.B. 548

established a business purpose and

The person to contact must be the

as modified by Rev. Proc. 79-3,

obtained the approval of the IRS to

person authorized to sign the Form

1979-1 C.B. 483, and Rev. Proc.

change its accounting period. See

1128, or the applicant’s authorized

85-58 (exempt organizations), and

Rev. Proc. 2006-45 for more

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Rev. Proc. 85-15, 1985-1 C.B. 516

information.

representative. If the person to

contact is not the filer or the

(all filers), to correct the adoption of

Line 1. A corporation is precluded

applicant, attach Form 2848, Power

an improper tax year to a calendar or

from using the automatic approval

of Attorney and Declaration of

fiscal year by (1) filing an amended

rules under section 4 of Rev. Proc.

Representative.

return on a calendar year basis and

2006-45 if it:

attach Form 1128, or (2) file a Form

Line 1. Check all applicable boxes

1. Has changed its annual

1128 under the procedures of either

to indicate the type of entity filing this

accounting period at any time within

Rev. Proc. 2006-45, 2006-46,

application. For example, an entity

the most recent 48-month period

2002-39, 2002-1 C.B. 1046 or its

that is a domestic corporation may

ending with the last month of the

successor.

also be a regulated investment

requested tax year. For exceptions,

Note. Applicants requesting an

company (RIC). That entity would

see section 4.02(1) of Rev. Proc.

check both the “Domestic

automatic approval must complete

2006-45.

corporation” box and the “Other” box,

Parts I and II only.

2. Has an interest in a

and write, “RIC under sec. 851” on

pass-through entity as of the end of

A user fee is not required if

the dotted line.

the short period. For exceptions, see

requesting an automatic

TIP

Lines 2a and 2b. If the requested

section 4.02(2) of Rev. Proc.

approval under any of the

year is a 52-53-week tax year,

2006-45.

sections of Part II listed below.

describe the year (for example, last

3. Is a shareholder of a FSC or

Complete Part II if the applicant

Saturday in December or Saturday

IC-DISC, as of the end of the short

can use the automatic approval rules

nearest to December 31). A

period. For exceptions, see section

under one of the sections listed below

52-53-week tax year must end on the

4.02(3) of Rev. Proc. 2006-45.

and the application is filed on time.

date a specified day of the week last

4. Is a FSC or an IC-DISC.

occurs in a particular month or on the

Section of Part II of Form 1128

5. Is an S corporation.

date that day of the week occurs

to Complete

6. Attempts to make an S

nearest to the last day of a particular

corporation election for the tax year

calendar month.

immediately following the short

Complete

period, unless the change is to a

A newly formed partnership or

If the applicant is:

only

PSC that wants to adopt a tax year

permitted S corporation tax year.

other than its required tax year must

7. Is a PSC.

A corporation (other than an Section A

8. Is a CFC. For exceptions, see

go to Part III after completing Part I.

S corporation or a PSC)

section 4.02(8) of Rev. Proc.

Line 2c. The required short period

A partnership, S

Section B

2006-45.

return must begin on the day

corporation, PSC, or a trust

9. Is a tax-exempt organization,

following the close of the old tax year

other than an organization exempt

An individual

Section C

and end on the day before the first

from tax under section 521, 526, 527,

day of the new tax year. An

A tax-exempt organization

Section D

or 528.

applicant’s first tax year generally

10. Is a cooperative association

starts when business operations

If the applicant does not qualify for

(within the meaning of section

begin.

automatic approval, a ruling must be

1381(a)) with a loss in the short

A corporation’s tax year begins at

requested. See Part III for more

period required to effect the change

the earliest date it first:

information.

of annual accounting period, unless

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Has shareholders,

the patrons of the cooperative

If the Service Center denies

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Has assets, or

association are substantially the

approval because Form 1128 was not

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Begins doing business.

same in the year before the change

filed on time, the applicant can

The initial year ends on the day

of annual accounting period, in the

request relief under Regulations

before the first day of the new tax

short period required to effect the

section 301.9100-3, discussed earlier

year.

change, and in the year following the

under Late Applications, by

change.

completing Part III, as discussed

Part II—Automatic

11. Is a corporation leaving a

later, and sending Form 1128 to the

Approval Request

consolidated group. The corporation

IRS National Office for consideration.

is precluded from using the automatic

Note. All references to the Revenue

Section A—Corporations

approval request procedures during

Procedures listed are to that Revenue

the consolidated group’s tax year in

(Other than S Corporations

Procedure or its successor.

which the corporation ceased to be a

or Personal Service

Part II is completed by applicants

member of the consolidated group.

Corporations)

See Rev. Proc. 2007-64 for details.

requesting automatic approval of a

change in tax year under:

Rev. Proc. 2006-45 provides

12. Has a required tax year (for

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Rev. Proc. 2006-45 (corporations)

exclusive procedures for certain

example, a real estate investment

as clarified and modified by Rev.

corporations to obtain automatic

trust), unless the corporation is

Proc. 2007-64, 2007-42 I.R.B. 818 at

approval to change their annual

changing to its required tax year and

accounting period under section 442

is not described in items (1) through

html,

and Regulations section 1.442-1(b). A

(11), above.

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Instructions For Form 1128 - Application To Adopt, Change, Or Retain A Tax Year - 2011 Page 4

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