SECTION 1. PURPOSE

This revenue procedure sets forth the procedures under §§ 30D(g) and 25E(f) of the Internal Revenue Code (Code) ¹ for the transfer of the clean vehicle credit or previously-owned clean vehicle credit from the taxpayer who elects to transfer such credit to an eligible entity. These procedures will apply to transfers of credits after December 31, 2023. These procedures include registration procedures with the Internal Revenue Service (IRS) for qualified manufacturers and sellers, as well as procedures for dealer registration and the suspension and revocation of that registration. This revenue procedure also establishes a program to make advance payments of credit amounts to registered dealers. In addition, this revenue procedure supersedes sections 5.01 and 6.03 of Rev. Proc. 2022-42, 2022-52 I.R.B. 565, providing new information for the timing and manner of submission of seller reports, respectively. Finally, this revenue procedure supersedes sections 6.01 and 6.02 of Rev. Proc. 2022-42, providing updated information on submission of written agreements by manufacturers to the IRS to be considered qualified manufacturers, as well as the method of submission of monthly reports by qualified manufacturers.