Form T2185 "Election on Disposition of Property by a Segregated Fund Trust to a Related Segregated Fund Trust" - Canada

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Download Form T2185 "Election on Disposition of Property by a Segregated Fund Trust to a Related Segregated Fund Trust" - Canada

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Election on Disposition of Property by a Segregated Fund Trust to a Related Segregated Fund Trust
Do not use this area
Use this form to elect to have a qualifying transfer of property under section 138.2 to transfer all of the property of a related
segregated fund trust (transferor) to a related segregated fund trust (transferee).
All legislative references are to the federal Income Tax Act.
Mail this completed form and any related schedules to the tax centre where the transferor's income tax return is usually
filed. Mail the form separately from any return and no later than six months after the date of transfer. You can find the tax
centre's address by going to canada.ca/tax-centres.
Transferor's name
Trust account number
Address
Postal code
Tax centre
Transferor's tax year
Transferee's name
Trust account number
Address
Postal code
Tax centre
Transferee's tax year
Name of person to contact for more information
Telephone number
Part 1 – Information required
Answer the following questions:
Is there a written agreement for the transfer? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Yes
No
Does a price adjustment clause apply to any of the properties? (see Folio S4-F3-C1 for details) . . . . . . . . . . . . . . . . . . . . . . . . . Yes
No
Is the designated amount of any of the transferred properties based on an estimate of the fair market value on
Yes
No
valuation day
(V-Day)?*
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
If yes, is there a formal documented V-Day value report?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Yes
No
Is the trustee of the funds a resident of Canada? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Yes
No
Have all of the properties of the transferor been transferred to the transferee at the transfer time?. . . . . . . . . . . . . . . . . . . . . . . . Yes
No
Has every person that had an interest in the transferor, immediately before the transfer time, ceased to be a beneficiary of the
Yes
No
transferor at the transfer time?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Has any person that had an interest in the transferor, immediately before the transfer time, received any consideration for the
Yes
No
interest other than an interest in the transferee? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
* Valuation Day is defined in section 24 of the Income Tax Application Rules.
Page 1 of 2
T2185 E (18)
(Ce formulaire est disponible en français.)
Clear Data
Protected B
when completed
Election on Disposition of Property by a Segregated Fund Trust to a Related Segregated Fund Trust
Do not use this area
Use this form to elect to have a qualifying transfer of property under section 138.2 to transfer all of the property of a related
segregated fund trust (transferor) to a related segregated fund trust (transferee).
All legislative references are to the federal Income Tax Act.
Mail this completed form and any related schedules to the tax centre where the transferor's income tax return is usually
filed. Mail the form separately from any return and no later than six months after the date of transfer. You can find the tax
centre's address by going to canada.ca/tax-centres.
Transferor's name
Trust account number
Address
Postal code
Tax centre
Transferor's tax year
Transferee's name
Trust account number
Address
Postal code
Tax centre
Transferee's tax year
Name of person to contact for more information
Telephone number
Part 1 – Information required
Answer the following questions:
Is there a written agreement for the transfer? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Yes
No
Does a price adjustment clause apply to any of the properties? (see Folio S4-F3-C1 for details) . . . . . . . . . . . . . . . . . . . . . . . . . Yes
No
Is the designated amount of any of the transferred properties based on an estimate of the fair market value on
Yes
No
valuation day
(V-Day)?*
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
If yes, is there a formal documented V-Day value report?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Yes
No
Is the trustee of the funds a resident of Canada? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Yes
No
Have all of the properties of the transferor been transferred to the transferee at the transfer time?. . . . . . . . . . . . . . . . . . . . . . . . Yes
No
Has every person that had an interest in the transferor, immediately before the transfer time, ceased to be a beneficiary of the
Yes
No
transferor at the transfer time?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Has any person that had an interest in the transferor, immediately before the transfer time, received any consideration for the
Yes
No
interest other than an interest in the transferee? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
* Valuation Day is defined in section 24 of the Income Tax Application Rules.
Page 1 of 2
T2185 E (18)
(Ce formulaire est disponible en français.)
Clear Data
Protected B
when completed
Part 2 – Details of property transferred
Note: If there is not enough space, attach an additional sheet. Use the same format as below.
In this part, list and describe the properties transferred, and state their fair market value and cost amount, as defined in subsection 248(1). You should keep
documentation relating to the responses to the questions in Part 1, and a brief summary of the method used to evaluate the fair market value of each property
transferred with this election, in case we ask to see them.
Year
Month Day
Date of transfer of all properties listed below:
Property of the transferor held immediately before the transfer time
Description of the property deemed to be disposed of
Fair market value of the
Cost amount of the property
Amount designated in
immediately before the transfer time by the transferor, and
property immediately before
to the transferor immediately
respect of the property
acquired by the transferee, at the transfer time
the transfer time
before the transfer time
Property of the transferee held immediately before the transfer time
Description of the property deemed to be disposed of
Fair market value of the
Cost amount of the property
Amount designated in
immediately before the transfer time and reacquired by the
property immediately before
to the transferee
respect of the property
transferee, at the transfer time
the transfer time
immediately before the
transfer time
Part 3 – Election and certification
The trustees of the transferor and the transferee elect under section 138.2 for the property specified. The trustees certify that the
information given in this election and in any attached documents, is correct and complete.
Name of the trustee of the transferor
Name of the trustee of the transferee
and
Signature of the trustee of the transferee
Signature of the trustee of the transferor
Date (yyyy/mm/dd)
Date (yyyy/mm/dd)
Privacy statement
Personal information is collected under the Income Tax Act to administer tax, benefits, and related programs. It may also be used for any purpose related to
the enforcement of the Act such as audit, compliance and collection activities. It may be shared or verified with other federal, provincial, territorial or foreign
government institutions to the extent authorized by law. Failure to provide this information may result in interest payable, penalties or other actions. Under
the Privacy Act, individuals have the right to access their personal information, request correction, or file a complaint to the Privacy Commissioner of
Canada regarding the handling of the individual's personal information. Refer to Personal Information Bank CRA PPU 047 on Info Source at
canada.ca/cra-info-source.
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