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Introduction›Part III. Administrative, Procedural, and Miscellaneous

SECTION 7. EXCLUSIVE

Internal Revenue Bulletin 1997-10 · 2026-10-03 edition · updated 2026-10-04 · United States

PROCEDURE

.01 This revenue procedure is the exclusive procedure available to a bank within the scope of this revenue procedure to obtain the Commissioner’s consent to change its method of accounting for bad debts from the § 585 reserve method to the § 166 specific charge-off method. Any Form 3115 filed with the national office under Rev. Proc. 92–20, 1992–1 C.B. 685, by a bank that is within the scope of this revenue procedure, along with any user fee submitted, will be returned to the bank.

.02 The national office or district director may review a bank’s Form 3115 filed under this revenue procedure. If it is determined that the bank does not qualify for the change in method of accounting under this revenue procedure, the national office or the district director will so advise the bank.

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▸Contents — Internal Revenue Bulletin 1997-10
Internal Revenue Bulletin 1997-10

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