Have you noticed any harsh shifting and does the transmission failsafe program come on when the fault sets? Do you know if the fluid was very dark and if it had a slight burnt smell to it? Can I please have the last seven digits of the VIN number? Thank you.
Thank you for the additional information. When the transmission clutch packs do not operate correctly due to either slippage or loss of pressure this fault will set. With dark fluid and a slight burnt smell it means the transmission needs replacement or an over haul. The problem with getting an over haul is that not all shops know how to check each component in the transmission correctly and you can end up with the same problem.
I hunted down some additional information on that fault and it appears a common problem with bushing for the input shaft wears out and can cause this fault. The entire shaft would have to be replaced as well during the over haul of the transmission. Also the seal in the torque converter should be checked to see if there is any damage in the seal for the torque converter.
Unfortunately this is not an inexpensive repair either way. The problem will persist until the transmission is fixed or replaced but often you can extend the life of the vehicle by doing the key cycling to temporarily clear the code to allow normal driving at time.
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Glad to help further.
The gearbox will need to be disassembled to replace the input shaft assembly so it would be highly recommended to have the clutch packs replaced at the same time and an internal check of the other components for any problems. Make sure to way the cost of an over haul VS. a replacement transmission. Many replacement transmissions will have a warranty. BMW will give a two year unlimited mile warranty if purchased from the dealer but the cost may be high compared to an over haul.
I hope this helps :)