; and (B) divided by 12. (2) The monthly allowance payable to a covered member for a year shall be payable for each of the 12 months following March of such year. (c) Notice of eligibility (1) (A) Not later than December 31 each year, the Director of the Defense Finance and Accounting Service shall notify, in writing, each individual whom the Director estimates will be a covered member during the following year of the potential entitlement of that individual to the allowance described in subsection (a) for that following year. (B) The preliminary notice under subparagraph (A) shall include information regarding financial management and assistance programs administered by the Secretary of Defense for which a covered member is eligible. (2) Not later than January 31 each year, each individual who seeks to receive the allowance for such year (whether or not subject to a notice for such year under paragraph (1)) shall submit to the Director such information as the Director shall require for purposes of this section in order to determine whether or not such individual is a covered member for such year. (3) Not later than February 28 each year, the Director shall notify, in writing, each individual the Director determines to be a covered member for such year. (d) Election not To receive allowance (1) A covered member otherwise entitled to receive the allowance under subsection (a) for a year may elect, in writing, not to receive the allowance for such year. Any election under this subsection shall be effective only for the year for which made. Any election for a year under this subsection is irrevocable. (2) A covered member who does not submit information described in subsection (d)(2) for a year as otherwise required by that subsection shall be deemed to have elected not to receive the allowance for such year. (e) Definitions In this section: (1) The term covered member means a regular member of the Army, Navy, Marine Corps, or Air Force— (A) who has completed initial entry training