SECTION 9. EFFECTIVE DATE AND

TRANSITION RULE

.01 Effective Date. This revenue procedure generally is effective for all changes in annual accounting periods for which the first effective year ends on or after [INSERT DATE THIS REVENUE PROCEDURE IS RELEASED TO THE TAX SERVICES]. However, if the time period for filing Form 1128 with respect to a taxable year set forth in section 7.02(2) of this revenue procedure has not yet expired, an individual within the scope of this revenue procedure may elect early application of the revenue procedure by providing the notification set forth in section 7.02(3) on the top of page 1 of Form 1128 and by satisfying the other procedural requirements of section 7.

November 25, 2002 888 2002–47 I.R.B.