SECTION 4. RELIEF FOR LATE

INITIAL CLASSIFICATION ELECTIONS

.01 Eligibility for Relief . An entity is eligible for relief under section 4.03 of this revenue procedure for a late initial classification election if the following requirements are met: (1) the entity failed to obtain its desired classification as of the date of its formation solely because Form 8832 was not filed timely under § 301.7701–3(c)(1); (2) the due date for the tax return of the entity’s default classification (excluding extensions) for the taxable year beginning with the date of the entity’s formation has not passed; and (3) the entity has reasonable cause for its failure to timely make the initial entity classification election.

.02 Procedural Requirements for Requesting Relief . Within 6 months of the original due date for the initial classification election (within 6 months and 75 days of the entity’s formation), the newly formed entity must file with the applicable service center (determined in accordance with the instructions to Form 8832) a completed Form 8832, signed in accordance with § 301.7701–3(c)(2). The Form 8832 must state at the top of the document “FILED PURSUANT TO REV. PROC. 2002–15.” Attached to the Form 8832 must be a statement explaining the reason for the failure to file a timely initial classification election.

.03 Relief for Late Entity Classifica- tion Elections . Upon receipt of a completed application requesting relief under this revenue procedure, the Internal Revenue Service will determine whether the requirements for granting additional time have been satisfied and will notify the entity of the result of its determination.