Form 3115 - Application For Change In Accounting Method Page 6
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Form 3115 (Rev. 12-2015)
Page
Part II
Change in Pooling Inventories (continued)
g A statement addressing whether, within the proposed NBU pool(s), there are items both sold to unrelated parties and
transferred to a different unit of the applicant to be used as a component part of another product prior to final processing.
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If the applicant is engaged in manufacturing and is proposing to use the multiple pooling method or raw material content
pools, attach information to show that each proposed pool will consist of a group of items that are substantially similar. See
Regulations section 1.472-8(b)(3).
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If the applicant is engaged in the wholesaling or retailing of goods and is requesting to change the number of pools used,
attach information to show that each of the proposed pools is based on customary business classifications of the applicant’s
trade or business. See Regulations section 1.472-8(c).
Schedule D—Change in the Treatment of Long-Term Contracts Under Section 460, Inventories, or Other
Section 263A Assets (see instructions)
Part I
Change in Reporting Income From Long-Term Contracts (Also complete Part III on pages 7 and 8.)
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To the extent not already provided, attach a description of the applicant’s present and proposed methods for reporting income
and expenses from long-term contracts. Also, attach a representative actual contract (without any deletion) for the requested
change. If the applicant is a construction contractor, attach a detailed description of its construction activities.
2a
Are the applicant’s contracts long-term contracts as defined in section 460(f)(1) (see instructions)?
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Yes
No
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If “Yes,” do all the contracts qualify for the exception under section 460(e) (see instructions)? .
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Yes
No
If line 2b is “No,” attach an explanation.
c Is the applicant requesting to use the percentage-of-completion method using cost-to-cost under
Yes
No
Regulations section 1.460-4(b)?
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d In computing the completion factor of a contract, will the applicant use the cost-to-cost method described in
Regulations section 1.460-5(b) or the simplified cost-to-cost method described in Regulations section 1.460-5(c)?
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Yes
No
e If line 2c is “No,” is the applicant requesting to use the exempt-contract percentage-of-completion
method under Regulations section 1.460-4(c)(2)? .
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If line 2e is “Yes,” attach an explanation of what method the applicant will use to determine a contract’s
completion factor.
If line 2e is “No,” attach an explanation of what method the applicant is using and the authority for its use.
3a Does the applicant have long-term manufacturing contracts as defined in section 460(f)(2)? .
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Yes
No
b If “Yes,” attach a description of the applicant’s manufacturing activities, including any required installation
of manufactured goods.
4 a Does the applicant enter into cost-plus long-term contracts? .
Yes
No
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b Does the applicant enter into federal long-term contracts?
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Yes
No
Part II
Change in Valuing Inventories Including Cost Allocation Changes (Also complete Part III on pages 7 and 8.)
1
Attach a description of the inventory goods being changed.
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Attach a description of the inventory goods (if any) NOT being changed.
3 a Is the applicant subject to section 263A? If “No,” go to line 4a. .
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No
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b Is the applicant’s present inventory valuation method in compliance with section 263A (see instructions)?
If “No,” attach a detailed explanation.
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Inventory Method Not
Inventory Method Being Changed
Being Changed
4 a Check the appropriate boxes in the chart.
Identification methods:
Present method
Proposed method
Present method
Specific identification .
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FIFO .
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LIFO
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Other (attach explanation) .
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Valuation methods:
Cost
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Cost or market, whichever is lower
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Retail cost
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Retail, lower of cost or market .
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Other (attach explanation) .
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b Enter the value at the end of the tax year preceding the year of change.
$
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5
If the applicant is changing from the LIFO inventory method to a non-LIFO method, attach the following information (see
instructions).
a Copies of Form(s) 970 filed to adopt or expand the use of the method.
b Only for applicants requesting a non-automatic change. A statement describing whether the applicant is changing to the
method required by Regulations section 1.472-6(a) or (b), or whether the applicant is proposing a different method.
c Only for applicants requesting an automatic change. The statement required by section 22.01(5) of Rev. Proc. 2015-14 (or
its successor).
3115
Form
(Rev. 12-2015)
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