SECTION 7. EFFECTIVE DATE

.01 This revenue procedure applies to a request to revoke a § 831(b) Election submitted on or after January 13, 2025.

.02 If, before January 13, 2025, a taxpayer submitted a request for a letter ruling to revoke its § 831(b) Election, and the request is pending with the national office on January 13, 2025, the taxpayer may choose to seek the automatic consent of the Secretary to revoke its § 831(b) Election under this revenue procedure by notifying the national office contact person assigned to the letter ruling request before February 12, 2025, that the taxpayer chooses to convert the request for a letter ruling to a request for automatic consent under this revenue procedure. This notification must make the representations set forth in section 4.02(2) of this revenue procedure; identify the revocation year for which automatic consent is requested, which may be the taxable year for which revocation was requested in the pending letter ruling request or a later taxable year; and be accompanied by the declaration described in section 4.02(4) of this revenue procedure. If the taxpayer timely notifies the national office that it chooses to convert the request for a letter ruling to a request for automatic consent under this revenue procedure, the national office will send a letter to the taxpayer acknowledging its request and will return the user fee submitted with the request for a letter ruling.