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    Ontario Section 86 Rollover Resolutions (Fixed Redemption Amount)


    Prepare the required corporate resolutions to reorganize an Ontario corporation's share capital with this Section 86 Rollover Resolutions Package.

    These documents are required for a rollover with a fixed redemption amount, under s. 86 of the Income Tax Act (Canada). The package contains:

    1. Special Resolution with instructions for wording of the Articles of Amendment, fixing the redemption amount on the new preference shares to be created;
    2. Share Subscription for the replacement shares;
    3. Corporate Resolutions accepting the subscriptions, setting the redemption amount for the new shares and including an undertaking of the directors not to declare dividends if it would reduce the corporation's assets and make it unable to redeem the shares at their full redemption amount;
    4. Share Subscription from the new shareholder for the new shares;
    5. Corporate Resolutions issuing the new shares.

    Completing the paperwork for an asset exchange is so much easier with this Ontario Section 86 Rollover Package (Fixed Redemption Amount).

    Download Type: Microsoft Word
    Last Updated: 01-August-2018
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    SKU: 4920
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    Ontario Section 85 Rollover Agreement (Assets for Preferred Shares)


    Exchange (roll over) certain assets for preferred shares in an Ontario company with this Section 85 Rollover Agreement (Assets for Preferred Shares).

    • The rollover is pursuant to Subsection 85(1) of the Income Tax Act (Canada).
    • The vendor shareholder sells the subject shares to a holding company in exchange for preferred shares in the capital stock of the holding company with a redemption amount equal to the purchase price.
    • The parties agree to file joint elections under Section 85(1) under the ITA and as required under the Ontario Corporations Tax Act.
    • The file includes a Section 116 Affidavit to be sworn by a corporate officer of the vendor, if applicable.
    The Ontario Section 85 Rollover Agreement (Assets for Preferred Shares) is available in MS Word format, and is fully editable to fit your specific circumstances.