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Official form guide
Form 15254: Request for Section 754 Revocation
IRS Form 15254 is a Request for Section 754 Revocation filed with the Internal Revenue Service by a partnership. It must be filed no later than 30 days after the close of the partnership taxable year.
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IRS Form 15254 - Request for Section 754 Revocation
IRS Form 15254 is a Request for Section 754 Revocation filed with the Internal Revenue Service by a partnership. It must be filed no later than 30 days after the close of the partnership taxable year.
Risk Radar
Scan points- 1Failing to file within 30 days after the close of the partnership taxable year is a critical error.
- 2Failing to sign Form 15254 by an authorized partner or LLC member.
- 3Not entering the partnership's correct Employer Identification Number on Page 1.
- 4Omitting the required Principal Business Activity Code (PBA) from Page 1.
- 5Filing before checking if there has been increased retirement frequency (Part I, Line 1).
Plain English
This form allows a partnership to ask the IRS to cancel or revoke an election related to Section 754 of the Internal Revenue Code. This section deals with how gains and losses are treated when interests in a partnership are transferred. Filing this request formally notifies the IRS of the change.
Submission Date
- Filing date: 2021-02-18 22:10:57
- Preparation window: collect IDs, supporting records, and signatures in advance.
- Final review: verify names, dates, and required fields before submission.
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What this form is for
- Use Form 15254 when a partnership needs to request a revocation of its section 754 election with respect to a transfer of an interest in the partnership.
- Do not use Form 15254 if the partnership has no increased frequency of retirements or shifts of partnership interests, although it might still need to file for other reasons stated in Part II.
- Check Form 1065 instead when determining the principal business activity code (PBA) used on this form.
Form selector
Use this form or another form?
Partnership has a substantial built-in loss
The partnership's adjusted basis exceeds fair market value by more than $250,000 or the transferee would be allocated a loss exceeding $250,000.
✓ Check Section 743(b) and (d)
Partnership changes its mailing address after filing
This form is used to notify the IRS of an address change or responsible party change.
✓ Check TIP on Page 3
Filing a request for revocation related to a specific tax year
The partnership must specify which taxable year the revocation will take effect against.
✓ Check Tax Year End/Revocation Tax Year Begins fields
Deadline or filing window
The filing window requires that an application be submitted no later than 30 days following the end of the relevant partnership taxable year. For example, if revocation applies to the tax year ending December 31, 2018, the deadline was within 30 days after that date.
Checklist
What you need before filling it out
Name of partnership
Partnership's full name · Line 1, Page 1
Employer identification number
Partnership's EIN · Line 2, Page 1
Principal business activity code number
The 6-digit PBA code of the partnership · Line on Page 1 (specific location not detailed)
Address
Full address, including suite/room number or P.O. Box number · Address lines on Page 1
Signer Name & Title
The name and official title of the person signing · Space below signature line, Page 1
Filing Deadline
No later than 30 days after the close of the partnership taxable year · Section 1.754-1(c)(1) on Page 2
Before you submit
- 1The partnership's name is entered on the first line of Form 15254.
- 2The partnership’s employer identification number is entered on the second line of Form 15254.
- 3A 6-digit principal business activity code is provided for the partnership.
- 4The full address, including suite or room number, is included.
- 5At least one partner or limited liability company member signs the form.
- 6The preparer’s name and date are typed/printed below the signature line (if not self-prepared).
- 7The filing deadline of 30 days after the close of the partnership taxable year is met.
How to file this form
- 1Complete the required fields on Form 15254, including providing the name, EIN, principal business activity code, and address.
- 2Answer the question regarding increased frequency of retirements or shifts of partnership interests (Yes/No), and provide details in Part II if applicable.
- 3Sign the form under penalties of perjury, declaring the facts are true, correct, and complete.
- 4Mail Form 15254 to the Department of the Treasury Internal Revenue Service Center at Ogden, UT 84201-0011.
- 5Keep a copy of the filed Form 15254 for your records.
Known limitations
- 1A partnership must file its own separate Form 15254 to request consent to revoke its section 754 election.
- 2A substantial built-in loss exists if the partnership's adjusted basis in property exceeds the fair market value of that property by more than $250,000 (per sections 743(b) and (d)).
- 3The IRS will notify the partnership of the revocation's receipt at the address listed on Form 15254, whether it is approved or denied.
Field map
Compact field-by-field guide
General Info
2 items
Full legal name and taxpayer identification number (SSN or EIN).
Current mailing address.
Details
2 items
Complete all applicable sections of this form according to the official IRS instructions.
Enter the relevant dollar amount if this form involves tax calculation.
Certification
1 items
Read and acknowledge any certifications required by this form.
Signatures
1 items
Sign and date. Unsigned forms cannot be processed.
Almost done reviewing the fields?
Fillable formOpen in Editor->The current edition is February 2021 (Form 15254 (2-2021)). The instructions direct users to www.irs.gov/Form15254 for the latest information regarding developments related to this form.
What changed or needs a fresh check
- Edition date — confirm the form reads (2-2021)
- Catalog Number — confirm it reads 74336R
- Mailing address — confirm the IRS Center is Ogden, UT 84201-0011
- Signature — ensure one partner or limited liability company member signs and dates the form
- Principal Business Activity Code — verify it is a 6-digit code as instructed on Page 2
- Tax Year End Section 754 Election Was Made — confirm this date reflects the last day of the tax year for which the election was attached.
Quick Facts
Downloads
After you file
- 1Retain a copy of Form 15254 after filing.
- 2Expect to receive a letter from the IRS approving or denying the request.
- 3If the partnership changes its mailing address or responsible party, it can notify the IRS by filing Form 8822-B.
- 4A paid preparer must give the partnership a copy of the form in addition to the copy filed with the IRS.
Sources
- SRCForm 15254 (February 2021) is titled Request for Section 754 Revocation and has Catalog Number 74336R.
- SRCThe partnership must file its own separate Form 15254 to request consent to revoke its section 754 election (Instructions p.2).
- SRCAn application must be filed no later than 30 days after the close of the partnership taxable year with respect to which revocation is intended (Instructions p.2).
- SRCThe required filing address for Form 15254 is Department of the Treasury Internal Revenue Service Center, Ogden, UT 84201-0011 (Instructions p.2).
- SRCForm 15254 must be signed by any one of the partners or limited liability company members (Instructions p.2).
- SRCIf a partnership member/employee completes Form 15254, the paid preparer’s space should remain blank (Paid Preparer’s Information on p.3).
Common confusion points
Who files this form?
The partnership itself must file its own separate Form 15254.
→ Ensure the name on the first line is the partnership's name.
When exactly do I have to file it?
An application must be filed no later than 30 days after the close of the partnership taxable year with respect to which revocation is intended.
→ Check the tax year end date against today’s date.
What if a partner/member completes it?
If a partner, member, or employee completes Form 15254, the paid preparer's space should remain blank.
→ Confirm no one who is *not* being paid to prepare it fills out that section.
How do I indicate which year this applies to?
Enter the tax year end date on Line 3 of the form (implied by context/instructions). The 'Year the section 754 election was made' is the last day of the tax year for which the election was attached.
→ Verify the specific dates listed in the instructions against your partnership documents.
What if I hire someone to fill it out?
If a paid preparer completes Form 15254, they must use a PTIN and sign the form in the designated space.
→ Double-check that the preparer's name, signature, and PTIN are complete.
Do I send it to the main IRS address?
No; write to the Internal Revenue Service Center at Ogden, UT 84201-0011 instead of mailing it to Washington, DC.
Workflow map
Related forms and next steps
Before
Current
After
Often used with
⚠ If something goes wrong
- If the mailing address changes after filing, Form 8822-B is used to notify the IRS.
Questions about IRS Form 15254
What is IRS Form 15254 used for?
This form allows a partnership to ask the IRS to cancel or revoke an election related to Section 754 of the Internal Revenue Code. This section deals with how gains and losses are treated when interests in a partnership are transferred. Filing this request formally notifies the IRS of the change.
Who must file IRS Form 15254?
Each partnership seeking consent to revoke its section 754 election must file its own separate Form 15254. Additionally, receivers, trustees, or assignees making returns for a partnership must sign the form instead of a partner or LLC member.
What information does IRS Form 15254 require?
Part I collects general information such as whether the revocation was requested before and if it causes administrative burden (Lines 1-2c). Part II requires a detailed explanation of the reason for the request, along with required signatures and dates.
When is IRS Form 15254 due?
An application to revoke a section 754 election must be filed no later than 30 days after the close of the partnership taxable year. The form is designated as being effective on February 2021 (Form 15254 (2-2021)).
Where do I file IRS Form 15254?
The partnership must file the revocation Form 15254 request at the IRS Center in Ogden, UT 84201-0011. The form is not to be sent to the general address of Tax Forms and Publications.
How do I complete IRS Form 15254?
First, enter the partnership's name on the first line of Page 1. Next, provide the Employer Identification Number (EIN) and Principal Business Activity Code. The form must be signed by any one partner or LLC member, who then enters their name and title below the signature area.
What happens if IRS Form 15254 is filed incorrectly?
By signing under penalties of perjury, the preparer declares that the Form 15254 contains all relevant facts relating to the request and is true, correct, and complete.
Who files this form?
The partnership itself must file its own separate Form 15254. Ensure the name on the first line is the partnership's name.
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