Canada Section 85 Rollover Agreement (Common to Preferred Shares)
Prepare a Section 85 Rollover Agreement for a transfer of shares from a shareholder to a corporation with this template for Canada, under S. 85 of the Income Tax Act.
- The shareholder sells common shares to the corporation in exchange for preferred shares.
- The parties agree to file a joint election for fair market value of the old shares.
- The purchase price is adjusted to ensure that the redemption amount for the new shares does not exceed any reassessment of the fair market value of the original shares, or vice versa.
- The file also includes corporate resolutions approving and authorizing the rollover.
This Canada Section 85 Rollover Agreement (Common to Preferred Shares)
is provided in MS Word format, and is fully editable to fit your specific circumstances.