SECTION 5. AUDIT PROTECTION

FOR TAXPAYERS CURRENTLY USING A METHOD PROVIDED IN SECTION 3

An insurance company within the scope of this revenue procedure that is using a method provided in section 3 of this revenue procedure on December 4, 2002, may continue to use that method without filing a Form 3115, Application for Change in Accounting . The use of a method provided in section 3 will not be raised as an issue in any taxable year. Moreover, if an insurance company’s use of a method provided in section 3 is already an issue under consideration (within the meaning of section 3.09 of Rev. Proc. 2002–9, 2002–3 I.R.B. 327 (as modified and amplified by Rev. Proc. 2002–19, 2002–13 I.R.B. 696, modified and clarified by Announcement 2002–17, 2002–8 I.R.B. 561, and amplified, clarified, and modified by Rev. Proc. 2002–54, 2002–35 I.R.B. 432) in a taxable year that ends before December 4, 2002, the issue will not be further pursued by the Service.