Prepare a Section 85 Asset Rollover Agreement
for a transfer of shares with this easy-to-use template for Canada, in accordance with S. 85 of the Income Tax Act.
- Under this Rollover Agreement, a 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 Section 85 Asset Rollover Agreement for Canada
is provided in MS Word format, and is fully editable to fit your specific circumstances.