of the first calendar year beginning after the date of enactment of this Act, elect under this section to be an eligible individual for purposes of this Act. Any such election shall be made by filing with the Commissioner of Social Security, the Secretary of the Treasury, and each person (if any) who is an employer of such individual on the date of the filing, in such form and manner as shall be prescribed in regulations of the Commissioner (in consultation with the Secretary of the Treasury), a written and signed declaration of such individual’s intention to be treated as an eligible individual for purposes of this Act. An election under this section shall be effective with respect to wages paid, and self-employment income derived, on or after January 1 following the date of the filing of the election. (b) Election ineffective if entitled to social security benefits Any election under this section shall not take effect if, as of the effective date of the election, the individual is entitled to an old-age insurance benefit under section 202(a) of the Social Security Act or to a disability insurance benefit under section 223 of such Act. (c) Irrevocability subject to grace period (1) In general Unless revoked in accordance with paragraph (2), an election under this section shall be irrevocable. (2) Two-year grace period (A) In general An individual may revoke an election under this section by filing with the Commissioner of Social Security, the Secretary of the Treasury, and each person (if any) who is an employer of such individual on the date of the filing, in such form and manner as shall be prescribed in regulations of the Commissioner (in consultation with the Secretary of the Treasury), a written and signed revocation of the election at any time before the end of the two-year period beginning with the effective date of the election. A revocation under this subsection shall take effect January 1 following the date of the filing of the revocation, except that a revocation filed during the 90-day period