I'm still not understanding so please opine. Is anything incorrect in the following?

Taxpayer sets up a bypass trust (long ago)

TP dies in 2025.

Bypass trust becomes irrevocable

and by definition the bypass trust is no longer a QRT (Qualified Revocable Trust)

Therefore, Bypass trust can elect fiscal year when it files the initial 1041...

and does NOT need to file Form 8855.