SECTION 13. EFFECTIVE DATE

.01 In general. Except as provided in sections 13.02 and 13.03 of this revenue procedure, this revenue procedure is effective for taxable years ending on or after December 27, 1999. The Service will return any application that is filed on or after December 27, 1999 if the application is filed with the national office pursuant to the Code, regulations, or admin

istrative guidance other than this revenue procedure and the change in method of accounting is within the scope of this revenue procedure.

.02 Transition rules . If a taxpayer filed an application or ruling request with the national office to make a change in method of accounting authorized by this revenue procedure, and the application or ruling request is pending with the national office on December 27, 1999, the taxpayer may make the change under this revenue procedure. However, the national office will process the application or ruling request in accordance with the authority under which it was filed, unless prior to the later of February 1, 2000, or the issuance of the letter ruling granting or denying consent to the change, the taxpayer notifies the national office that it wants to make the change under this revenue procedure. If the taxpayer timely notifies the national office that it wants to make the method change under this revenue procedure, the national office will require the taxpayer to make appropriate modifications to the application or ruling request to comply with the applicable provisions of this revenue procedure. In addition, any user fee that was submitted with the application or ruling request will be returned to the taxpayer.

(1) Change in method of accounting to comply with § 404(a)(11) . For a change in method of accounting described in section 4A.01 of the APPENDIX of this revenue procedure, this revenue procedure is effective for the taxpayer’s first taxable year ending after July 22, 1998.

(2) Changes in methods of account- ing for § 467 rental agreements. For changes in methods of accounting described in sections 8A.01, 8A.02, and 8A.03 of the APPENDIX of this revenue procedure, this revenue procedure is effective for applications filed after December 27, 1999 for the taxpayer’s first taxable year ending after May 18, 1999.

(3) Change in method of accounting to discontinue the mark-to-market method of accounting. For a change in method of accounting described in section 10A.01 of the APPENDIX of this revenue procedure, this revenue procedure is effective for the taxpayer’s first taxable year ending after July 22, 1998.

.03 Special rules.

(4) Change in method of accounting for a pool of debt instruments. For a change in method of accounting described in section 12.02 of the APPENDIX of this revenue procedure, this revenue procedure is effective for the taxpayer’s first taxable year beginning after August 5, 1997.