SECTION 6. DEPRECIATION OR

AMORTIZATION (§ 56(a)(1), 167, 168, 197, 280F(a), or 1502, OR FORMER § 56(g)(4)(A), 168, 1400I, 1400L, or 1400N(d))

.01 Impermissible to permissible method of accounting for depreciation or amortization .

(1) Description of change . (a) Applicability . This change applies to a taxpayer that wants to change from an impermissible to a permissible method of accounting for depreciation or amortization (depreciation) for any item of depreciable or amortizable property under the taxpayer’s present or proposed method of accounting:

(i) for which the taxpayer used the impermissible method of accounting in at least two taxable years immediately preceding the year of change (but see section 6.01(1)(b) of this revenue procedure for property placed in service in the taxable year immediately preceding the year of change);

(ii) for which the taxpayer is making a change in method of accounting under § 1.446-1(e)(2)(ii)( d );

(iii) for which depreciation is determined under § 56(a)(1), § 56(g)(4)(A)

(2) Applicability . This change only applies to a bank (as defined in § 1.166‑2(d)(4)(i)) that:

(a) is subject to supervision by Federal authorities, or by state authorities maintaining substantially equivalent standards;

(b) has previously adopted or elected to change to the method of accounting for bad debts described in § 1.166-2(d)(3);

(c) has had that previous election automatically revoked under § 1.166‑2(d)(3) (iv)(C);

(d) meets the express determination requirement of § 1.166‑2(d)(3)(iii)(D) for the year of change; and

(e) now seeks the consent of the Commissioner to make an election under § 1.166‑2(d)(3)(iii)(C)( 3 ).

(3) Certain eligibility rule inapplica- ble . The eligibility rule in section 5.01(1) (f) of Rev. Proc. 2015-13, 2015-5 I.R.B. 419, does not apply to this change. (4) Designated automatic accounting method change number . The designated automatic accounting method change number for a change under this section 4.02 is “211.” (5) Contact information . For further information regarding a change under this section, contact K. Scott Brown at (202) 317-6945 (not a toll-free number).