Rp 2004-44

MCC

Merchant Category

Reportable under
6041/6041A and
Authority for Exception

9223

Yes

9311

Bail and Bond Payments (payment to the surety for the bond, not the
actual bond paid to the government agency)
Tax Payments - Government Agencies

9399

Government Services (Not Elsewhere Classified)

9402

Postal Services - Government Only

9405

U.S. Federal Government Agencies or Departments

9950

Intra-Company Purchases

SECTION 6. EFFECTIVE DATE
This revenue procedure is effective July
14, 2004.
SECTION 7. DRAFTING
INFORMATION
The principal author of this revenue
procedure is Joseph P. Dewald of the
Office of Associate Chief Counsel (Procedure and Administration). For further
information regarding this revenue procedure, contact Mr. Dewald at (202)
622–4910 (not a toll-free call).

26 CFR 601.201: Rulings and determination letters.
(Also: Part I, § 412.)

Rev. Proc. 2004–44
SECTION 1. PURPOSE
The purpose of this revenue procedure
is to outline the procedure by which a plan
administrator or a plan sponsor may request and obtain approval for an extension of an amortization period in accordance with § 412(e) of the Internal Revenue Code and section 304(a) of the Employee Retirement Income Security Act of
1974 (ERISA), Pub. L. 93–406, 1974–3
C.B. 1, 42.
SECTION 2. BACKGROUND
INFORMATION
.01 Statute—Section 412(e) of the Code
and section 304(a) of ERISA provide that
the period of years required to amortize

2004–31 I.R.B.

any unfunded liability of any plan may be
extended by the Secretary of Labor for a
period of time (not in excess of 10 years).
.02 Reorganization Plan—Reorganization Plan No. 4 of 1978, 1979–1 C.B. 480,
which became effective December 31,
1978, transferred the function described
in subsection .01 to the Secretary of the
Treasury.
SECTION 3. REQUESTS FOR
APPROVAL TO EXTEND AN
AMORTIZATION PERIOD
.01 Who may submit—Only a plan
administrator, plan sponsor, or an authorized representative of either may submit
a request for approval to extend the period of years required to amortize any
unfunded liability. The request must be
signed by the taxpayer maintaining the
plan (hereinafter referred to as “applicant”) or an authorized representative of
the applicant who either must be identified
in (a), (b), or (c) of subsection 9.02(11)
of Rev. Proc. 2004–4, 2004–1 I.R.B. 125,
or must be an enrolled actuary within the
meaning of § 7701(a)(35) of the Code.
Where an authorized representative signs
the request or will appear before the Service in connection with the request, a Form
2848, Power of Attorney and Declaration
of Representative, must be submitted with
the request. For multiemployer plans, the
request must be made by the Board of
Trustees (which shall be deemed to be
the applicant) or by an authorized representative of the Board of Trustees. An
individual is not an authorized representative of the applicant merely on account
of being an administrator or trustee of the
plan.

134

No
1.6041-3(p)(4)
No
1.6041-3(p)(4)
No
1.6041-3(p)(3)
No
1.6041-3(p)(3)
No
1.6041-3(c)
.02 Submission.––Requests for approval to extend an amortization period
must be submitted to:
Employee Plans
Internal Revenue Service
Commissioner, TE/GE
Attention: SE:T:EP:RA
P.O. Box 27063
McPherson Station
Washington, D.C. 20038
The user fee required by Rev. Proc.
2004–8, 2004–1 I.R.B. 240, or its successors, must be sent with such requests.
.03 Necessary Procedural Documents.—A request will not be considered
unless it complies with (1) through (3)
below.
(1) The request also must contain a
declaration in the following form: “Under the penalties of perjury, I declare that I
have examined this request, including accompanying documents, and to the best of
my knowledge and belief, the facts presented in support of the request are true,
correct, and complete.” This declaration
must be signed by the applicant (e.g., an
authorized officer of a corporation). The
signature of an individual with a power of
attorney will not suffice for the declaration. See section 9.02(13) of Rev. Proc.
2004–4, supra, at 142.
(2) Because a request for an extension
constitutes a request for a ruling, compliance with section 6110 of the Code is also
required. Section 601.201 of the Statement
of Procedural Rules sets forth the requirements applicable to requests for rulings
and determination letters which are subject
to section 6110. Section 601.201(e) furnishes specific instructions to applicants.

August 2, 2004

The applicant must provide with the
request either a statement of proposed
deletions and the statutory basis for each
proposed deletion, or a statement that no
information other than names, addresses,
and taxpayer identifying numbers need be
deleted.
(3) The applicant must provide a copy
of a written notification to each employee
organization representing employees covered by the plan, and each participant, beneficiary, and alternate payee of the plan,
that an application for an extension of the
amortization period under § 412(e) has
been submitted to the Service. The original of the written notification must bear a
signature by an appropriate officer of the
applicant and must be in substantially the
form set forth in the Model Notice found
in the Appendix A to this revenue procedure. The Service does not require the applicant to furnish any information in addition to that required by the Model Notice in
the Appendix A to plan participants, beneficiaries, alternate payees, or employee organizations as part of the extension application process, but additional information
may, of course, be provided by the applicant pursuant to the collective bargaining
process or otherwise.
The application must state that such
notice was hand delivered or mailed to
the last known address of each employee
organization, participant, beneficiary, and
alternate payee (within the meaning of
§ 414(p)(8)) within 14 days prior to the
date of the application. If the applicant
makes a reasonable effort to carry out the
provisions of this paragraph, failure of an
employee organization, participant, beneficiary, or alternate payee to receive the
notice will not cause the applicant to fail
the notice requirement. However, merely
posting the notice on a bulletin board is
not sufficient to satisfy this requirement.
.04 Necessary Information.––The applicant must furnish appropriate evidence
that the extension of the amortization period is needed to continue the plan or to
prevent a substantial curtailment of pension benefit levels or employee compensation, and that a denial of the extension
would be adverse to the interests of the
plan participants in the aggregate. What
constitutes appropriate evidence will depend on the facts and circumstances of
each case. A response must be furnished
for each of the paragraphs (1) through (6)

August 2, 2004

below. In certain cases, some of the material described in paragraphs (1) through
(6) may be inapplicable, unavailable, inappropriate or burdensome to furnish. In
such cases, the applicant should furnish a
statement indicating why the material for
a particular paragraph is inapplicable, unavailable, inappropriate or burdensome.
(1) General facts concerning the employer.
A brief statement should be submitted
concerning: (a) the history of the employer and its primary business; (b) the
ownership of the employer and any recent or contemplated changes (such as
acquisitions, mergers, discontinuances of
operations) which might have a bearing
on the employer’s organization or financial condition; (c) whether the employer
is aggregated with any other entity for
purposes of § 414(b), (c), (m) or (o); and
(d) whether the plan is also maintained by
employers described in (c) above or any
other employers.
(2) The financial condition of the employer.
For plans other than multiemployer
plans, the latest available annual financial report of the employer and each of
the other entities included within the controlled group of which the employer is a
member. This submission must include
at least the balance sheet, profit and loss
statement, cash flow statement, and notes
to the financial statement. Recent interim
financial reports for each of the controlled
group members, if available, should also
be submitted along with an interim financial report covering the corresponding period for the previous year. If the employer
submits financial reports to the Securities
and Exchange Commission, these reports
should be submitted for the same period
as the annual financial report. Preferably,
the financial report should include certified financial statements. If certified
financial statements have not been prepared, an uncertified report is acceptable.
If neither certified nor uncertified reports
are available, a copy of the company’s
latest available federal income tax return,
including all of the supporting schedules,
must be submitted.
For multiemployer plans, the financial
information described in the above paragraph must only be submitted for employers who either (1) are represented on the
Board of Trustees or (2) made or were re-

135

quired to make five percent or more of
the total required contributions under the
collective bargaining agreements relating
to the plan for which the extension is requested. In addition, the applicant must
submit a general description of the financial state of the industry in which employees covered by the plan are employed. Regardless of whether any employer makes
more than five percent of the total contributions, a general description of the financial state of the industry in which employees covered by the plan are employed is required. For purposes of this paragraph, a
multiple employer plan for which the plan
administrator did not make an election under § 413(c)(4)(B) of the Code is required
to submit the same information as a multiemployer plan. Financial information of
employers contributing to a multiemployer
plan (identified by name of plan and plan
number) must be submitted directly from
the contributing employers to the Service
at the same time that the submission is
made to the following address:
Employee Plans
Internal Revenue Service
Commissioner, TE/GE
Attention: SE:T:EP:RA
P.O. Box 27063
McPherson Station
Washington, D.C. 20038
(3) Information concerning the extension of the amortization period. Information concerning the extension of the amortization period should include the following.
(a) The unfunded liability for
which an extension of the amortization
period is requested.
(b) The reasons why an extension
of the amortization period is needed.
(c) The length of the extension of
the amortization period desired (up to a
maximum of 10 years).
(d) Information concerning the
actions taken by the applicant to reduce
the plan’s unfunded liability before the
request for an extension has been made.
Such actions would include the reduction of future plan benefit accruals and
increases in employer contribution rates.
Also describe any benefit reductions, contribution rate increases, or other actions
that are intended to be taken in the future.

2004–31 I.R.B.

(e) Projections of (i) funding standard account credit balance/accumulated
funding deficiencies, (ii) actuarial value of
assets and market value of assets, (iii) current liabilities, and (iv) funding ratios, for
the length of the extension of the amortization period requested and for the period
ten (10) years afterwards. For example, if
the applicant requests an extension of ten
(10) years, the projections should be for a
20-year period. These projections must be
prepared by an enrolled actuary.
(f) The plan year for which the
extension is requested, i.e., the first plan
year for which the extension of the amortization period will be reflected in the determination of the minimum funding standard
for the plan (e.g., 1/1/2004—12/31/2004).
The Service may request additional information as needed.
(4) Facts concerning the pension plan.
For each pension plan for which an extension is requested, the following information should be supplied.
(a) The name of the plan, the
plan’s identification number, and file
folder number (if any).
(b) The date the plan was adopted.
(c) The effective date of the plan.
(d) The classes of employees covered.
(e) The number of employees
covered.
(f) A copy of the current plan document and the most recent summary plan
description.
(g) A copy of the most recent determination letter issued to the plan.
(h) A brief description of all plan
amendments adopted during the year for
which the extension is requested and the
previous four years which affect plan
costs, including the approximate effect of
each amendment on such costs.
(i) The most recent actuarial report plus any available actuarial reports for
the preceding two plan years. Also, if not
shown in that report, the present value of
accrued benefits, present value of vested
benefits, and fair market value of assets
(excluding contributions not yet paid).
(j) A description of how the plan
is funded (i.e., trust fund, individual insurance policies, etc.).
(k) A list of the contributions actually paid in each month, from the twentyfourth month prior to the beginning of the

2004–31 I.R.B.

plan year for which the extension is requested through the date of the request and
the plan year to which the contributions
were applied, with the employee contributions and the employer contributions listed
separately.
(l) The approximate contribution
required to meet the minimum funding
standard. For defined benefit plans, this
amount should be determined by the plan’s
enrolled actuary.
(m) A copy of the most recently
completed Annual Return/Report of Employee Benefit Plan (Form 5500 series, as
applicable) and in the case of a defined
benefit plan, a copy of the corresponding
Actuarial Information schedule (Schedule
B of Form 5500).
(n) A copy of each ruling letter
that waived the minimum funding standard during the last 15 plan years, a statement of the amount waived for each plan
year, and a statement of the outstanding
balance of the amortization base for each
waived funding deficiency. The outstanding balance of the amortization base for
each waiver is to be calculated as of the
first day of the plan year for which an extension is being requested.
(o) A copy of each ruling letter
that granted, under § 412(e) of the Code
and section 304(a) of ERISA, an extension
of time to amortize any unfunded liability
which became applicable at any time during the last 15 plan years.
(5) Other pension, profit-sharing, or
stock bonus plans. If the employer maintains more than one plan, an outline of the
essential facts for each such plan should be
submitted. This should include:
(a) A brief description of the plan,
including the name of the plan and its plan
year.
(b) The number of employees
covered.
(c) The classes of employees covered.
(d) The approximate annual contribution required.
(e) The amount of contributions
that have been made, or are intended to be
made, for any plan year of such other plan
commencing in, or ending in, the plan year
for which the extension is requested.
(f) A statement as to whether a request for a waiver of the minimum funding

136

standard or an extension of an amortization
period is contemplated for the plan.
(6) Other information.
(a) Describe the nature of any
matters pertaining to the plan which are
currently pending or are intended to be
submitted to the Service, the Department
of Labor or the Pension Benefit Guaranty
Corporation.
(b) Furnish details of any existing
arbitration, litigation, or court procedure
which involves the plan.
.05 Checklist.––A checklist has been
provided in Appendix B for the convenience of the taxpayer submitting the request. This checklist should be signed, by
the taxpayer or authorized representative,
and dated and placed on top of the request.
SECTION 4. DEADLINE FOR
REQUESTING AN EXTENSION OF
THE AMORTIZATION PERIOD
All extension requests should be submitted by the last day of the plan year for
which the extension is intended to take effect. The Service will consider applications for extensions submitted after this
date only upon a showing of good cause.
In seeking an extension of an amortization
period with respect to a plan year which
has not yet ended, the applicant may have
difficulty in furnishing sufficient current
evidence in support of the request. For
this reason, it is generally advised that a
request not be submitted earlier than 180
days prior to the end of the plan year for
which the extension is requested.
SECTION 5. GENERAL
Employers who have difficulty in furnishing the information specified in this
revenue procedure may call the Employee
Plans Customer Assistance Service at
1–877–829–5500 (a toll–free number), or
write for guidance to the following address:
Internal Revenue Service
Commissioner, TE/GE
Attention: SE:T:EP:RA:T:A
1111 Constitution Avenue, N.W.
Washington, D.C. 20224
In appropriate instances, pre-submission
conferences may be afforded in addition
to conferences available under Rev. Proc.
2004–4.

August 2, 2004

SECTION 6. BANKRUPTCY
PETITIONS

SECTION 9. PAPERWORK
REDUCTION ACT

If the applicant or a significant number
of controlled group members file a bankruptcy petition after the request for an extension of an amortization period is submitted to the Service, the applicant must
provide to the Service an update to the information required to be submitted in section 3 of this revenue procedure, especially the financial information in section
3.04(2).

The collection of information contained in this revenue procedure has been
reviewed and approved by the Office of
Management and Budget in accordance
with the Paperwork Reduction Act (44
U.S.C. section 3507) under control number 1545–1890.
An agency may not conduct or sponsor,
and a person is not required to respond
to, a collection of information unless the
collection of information displays a valid
OMB control number.
The collection of information in this
revenue procedure is in section 3 and Appendix B. This collection of information
is required to evaluate, process and obtain
approval of the request for an extension of
an amortization period. This information
will be used to make determinations on extensions of the amortization period under
§ 412(e) of the Code. The likely respondents are businesses or other for-profit institutions and nonprofit institutions.
The estimated total annual reporting/recordkeeping burden is 2500 hours.
The estimated annual burden per respondent/recordkeeper varies from 71 to
129 hours, depending on individual cir-

SECTION 7. EFFECTIVE DATE
This revenue procedure is effective for
all ruling requests received after August
2, 2004, the date of its publication in the
Internal Revenue Bulletin.
SECTION 8. EFFECT ON OTHER
REVENUE PROCEDURES
Rev. Proc. 2004–4 is modified to the
extent that this revenue procedure provides
special procedures for issuing rulings with
respect to requests for an extension of an
amortization period.
Rev. Proc. 79–61, 1979–2 C.B. 575, is
superseded

August 2, 2004

137

cumstances, with an estimated average
burden of 100 hours. The estimated number of respondents/recordkeepers is 25.
The estimated annual frequency of responses is one.
Books or records relating to a collection
of information must be retained as long
as their contents may become material in
the administration of any internal revenue
law. Generally, tax returns and tax return
information are confidential, as required
by 26 U.S.C. section 6103.
DRAFTING INFORMATION
The principal author of this revenue
procedure is John C. Heil of the Employee
Plans, Tax Exempt and Government Entities Division. For further information
regarding how this revenue procedure applies to employee plans matters, contact
the Employee Plans Customer Assistance
Service at 1–877–829–5500 (a toll-free
call). Mr. Heil’s telephone number is
(202) 283–9694 (not a toll-free call).

2004–31 I.R.B.

APPENDIX A
MODEL NOTICE OF APPLICATION FOR AN
EXTENSION OF AN AMORTIZATION PERIOD
TO EMPLOYEE ORGANIZATIONS (UNIONS),
PARTICIPANTS, BENEFICIARIES, AND ALTERNATE PAYEES
This notice is to inform you that an application for an extension of an amortization period for unfunded liability under § 412(e)
of the Internal Revenue Code (Code) and section 304 of the Employee Retirement Income Security Act of 1974 (ERISA) has been
submitted by [INSERT APPLICANT’S NAME] to the Internal Revenue Service (Service) for the [INSERT PLAN NAME] for
the plan year beginning [INSERT DATE].
Under § 412(f)(4)(B) of the Code and section 304(a) of ERISA, the Service will consider any relevant information submitted
concerning this application for an extension of the amortization period for unfunded liability. You may send this information to the
following address:
Director, Employee Plans
Internal Revenue Service
Attn: SE:T:EP:RA:T:A
1111 Constitution Avenue, N.W.
Washington, D.C. 20224
Any such information should be submitted as soon as possible after you have received this notice. Due to the disclosure restrictions of § 6103 of the Code, the Service can not provide any information with respect to the extension request itself.
In accordance with section 104 of ERISA and section 2520.104b–10 of the Department of Labor Regulations (29 C.F.R. Part
2520), annual financial reports for this plan, which include employer contributions made to the plan for any plan year, are available
for inspection at the Department of Labor in Washington, D.C. Copies of such reports may be obtained upon request and upon
payment of copying costs from the following address:
Public Disclosure Room
Room N–5507
Employee Benefits Security Administration
U.S. Department of Labor
200 Constitution Avenue, N.W.
Washington, D.C. 20210
As required by section 104(b)(2) of ERISA, copies of the latest annual plan report are available for inspection at the principal
office of the plan administrator, who is located at [INSERT ADDRESS]. Copies of the annual report may be obtained upon request
and upon payment of a copying charge of [INSERT CHARGE] by writing to the plan administrator at the above address.
The following information is provided pursuant to § 412(f)(4)(A) of the Code and section 303(e)(1) of ERISA:
Present Value of Vested Benefits $
Present Value of Benefits, calculated as though the plan terminated $
Fair Market Value of Plan Assets $
The above present values were calculated using an interest rate or rates of [INSERT INTEREST RATE(S)].
[SIGNATURE OF APPROPRIATE OFFICER OF THE PLAN SPONSOR]
[INSERT NAME]
[INSERT TITLE]

2004–31 I.R.B.

138

August 2, 2004

APPENDIX B

REQUEST FOR EXTENSION OF AN AMORTIZATION PERIOD CHECKLIST
IS YOUR SUBMISSION COMPLETE?
Instructions
The Service will be able to respond more quickly to your request for an extension of an amortization period if it is carefully
prepared and complete. To ensure your request is in order, use this checklist. Answer each question in the checklist by inserting
Y for yes, N for no, or N/A for not applicable, as appropriate, in the blank next to the item. Sign and date the checklist (as
taxpayer or authorized representative) and place it on top of your request.
You must submit a completed copy of this checklist with your request. If a completed checklist is not submitted with your request,
substantive consideration of your submission will be deferred until a completed checklist is received.
__________

1.

If you want to designate an authorized representative, have you included a properly executed
Form 2848 (Power of Attorney and Declaration of Representative)?

__________

2.

Have you satisfied all the requirements of Rev. Proc. 2004–4 or its successors (especially
concerning signatures and penalties of perjury statement)? (See section 3.03(1))

__________

3.

Have you included statement of proposed deletions? (See section 3.03(2))

__________

4.

Have you included the user fee required under Rev. Proc. 2004–8 or its successors? (See section
3.02)

__________

5.

Have you included a copy of the written notification that an application for an extension of an
amortization period has been submitted and a statement that such notice was hand delivered or
mailed to each employee organization, participant, beneficiary and alternate payee? (See section
3.03(3) and Appendix A)

__________

6.

Have you included the general facts concerning the employer? (See section 3.04(1))

__________

7.

Have you included a description of the employer’s financial condition? (See section 3.04(2))

__________

8.

Have you included information concerning the extension of the amortization period? (See
section 3.04(3))

__________

9.

Have you included information concerning the pension plan? (See section 3.04(4))

__________

10.

Have you included information concerning other pension, profit-sharing, or stock bonus plans of
the employer? (See section 3.04(5))

__________

11.

Have you included information concerning other matters pertaining to the plan? (See section
3.04(6))

August 2, 2004

139

2004–31 I.R.B.

Signature

Date

Title or Authority

Typed or printed name of person signing checklist

26 CFR 601.105: Examination of returns and claims
for refund, credit, or abatement; determination of
correct tax liability.
(Also, Part I, § 6011; 1.6011–4.)

Rev. Proc. 2004–45
SECTION 1. PURPOSE
This revenue procedure provides alternative disclosure procedures that are
deemed to satisfy a taxpayer’s disclosure obligations under § 1.6011–4 of
the Income Tax Regulations for transactions with a significant book-tax difference under § 1.6011–4(b)(6). Taxpayers
also may continue to follow the disclosure procedures provided in § 1.6011–4
for disclosing transactions described in
§ 1.6011–4(b)(6).
SECTION 2. BACKGROUND
.01 Section 1.6011–4 requires a taxpayer who participates in a reportable
transaction to disclose the transaction in
accordance with the procedures provided
in § 1.6011–4. Under § 1.6011–4(b), there
are six categories of reportable transactions. One category of reportable transactions is a transaction with a significant
book-tax difference. A transaction with
a significant book-tax difference is defined in § 1.6011–4(b)(6) as a transaction
where the amount for tax purposes of any
item or items of income, gain, expense, or
loss from the transaction differs by more
than $10 million on a gross basis from
the amount of the item or items for book
purposes in any taxable year. For purposes
of § 1.6011–4(b)(6), the amount of an item
for book purposes is determined by applying U.S. generally accepted accounting
principles for worldwide income.

2004–31 I.R.B.

.02 Section 1.6011–4(b)(6)(ii) provides
that the following taxpayers must disclose
transactions with a significant book-tax
difference: (1) reporting companies under
the Securities Exchange Act of 1934 (15
U.S.C. 78a) and related business entities;
and (2) business entities that have $250
million or more in gross assets for book
purposes at the end of any financial accounting period that ends with or within
the entity’s taxable year in which the transaction occurs.
.03 On July 7, 2004, the Treasury Department and Internal Revenue Service released a draft of the final version of Schedule M–3, Net Income (Loss) Reconciliation For Corporations With Total Assets of
$10 Million or More. In general, for taxable years ending on or after December
31, 2004, any corporation (or U.S. consolidated tax group) required to file Form
1120, U.S. Corporation Income Tax Return, that reports total assets at the end of
the corporation’s (or U.S. consolidated tax
group’s) taxable year that equal or exceed
$10 million on Schedule L of Form 1120
is required to complete and file Schedule
M–3.
SECTION 3. SCOPE
This revenue procedure applies to a
taxpayer that is required to disclose reportable transactions under § 1.6011–4
with respect to transactions described in
§ 1.6011–4(b)(6).
SECTION 4. APPLICATION
.01 Corporation required to complete
Schedule M–3 for a taxable year ending
on or after December 31, 2004. For a taxable year ending on or after December 31,
2004, a corporation required to file Schedule M–3 that completes and files Schedule
M–3 (in accordance with the instructions

140

to the form, including draft instructions until such instructions are finalized) with the
corporation’s timely-filed original tax return (including extensions) for the taxable
year is deemed to satisfy the disclosure requirements of § 1.6011–4 with respect to
transactions described in § 1.6011–4(b)(6)
for that taxable year.
.02 Taxpayer not required to complete
Schedule M–3 for a taxable year ending on
or after December 31, 2004. A taxpayer
that is required to disclose reportable transactions under § 1.6011–4 with respect to
transactions described in § 1.6011–4(b)(6),
but is not required to complete Schedule
M–3, for a taxable year ending on or after December 31, 2004, will continue to
be subject to the disclosure requirements
of § 1.6011–4. However, the taxpayer is
deemed to satisfy the disclosure requirements of § 1.6011–4 with respect to transactions described in § 1.6011–4(b)(6) for
a taxable year ending on or after December 31, 2004, if the taxpayer complies with
the alternative disclosure procedures described in section 4.04 of this revenue procedure for that taxable year.
.03 Alternative disclosure procedures
for a taxable year ending before December 31, 2004, for transactions entered
into on or after January 1, 2003. For
a taxable year ending before December
31, 2004, a taxpayer required to disclose
reportable transactions under § 1.6011–4
with respect to transactions described in
§ 1.6011–4(b)(6) that were entered into
on or after February 28, 2003, is deemed
to satisfy the disclosure requirements of
§ 1.6011–4 with respect to those transactions if the taxpayer complies with the alternative disclosure procedures described
in section 4.04 of this revenue procedure.
These rules also may be relied upon for
taxable years ending before December 31,
2004, with respect to transactions entered
into on or after January 1, 2003, and before

August 2, 2004