T217 - fill out and auto calculate/complete form online

Canada Revenue
Agency

Agence du revenu
du Canada

Protected B when completed

Election or Revocation of an Election to use the Mark-to-Market Method

•

In order to file this election, you must have a valid CRA account number. For more information on how to obtain one, go
to canada.ca.

Do not use this area

•

Unless otherwise stated, all legislative references are to the federal Income Tax Act (ITA).

•

Use this form if any of the following applies:

–

you are a financial institution [as defined under subsection 142.2(1)] in the tax year, and you are electing under
subsection 10.1(1) for each eligible derivative [as defined in subsection 10.1(5)] held at any time in the tax year to be
deemed mark-to-market property [as defined in subsection 142.2(1)]

–

you are a taxpayer or a partnership (other than a financial institution), and are electing under subsection 10.1(1)
to recognize your profit or loss in respect of each eligible derivative on a mark-to-market basis under
section 10.1

–

you want to request a revocation under subsection 10.1(2) of an election previously made under subsection 10.1(1)

•

An eligible derivative in subsection 10.1(5) means a swap agreement, a forward purchase agreement, a forward sale agreement, a forward rate agreement,
a futures agreement, an option agreement or similar agreement if all of the following apply:

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it is held by you at any time in the tax year

–

the agreement is not a capital property, a Canadian resource property, a foreign resource property or an obligation on account of capital

–

you have produced audited financial statements for the tax year that were prepared using generally accepted accounting principles or, if you have not
produced audited financial statements, the agreement has a readily ascertainable fair market value

–

where the agreement is held by a financial institution [as defined in subsection 142.2(1)], the agreement is not a tracking property, other than an
excluded property [as both defined in subsection 142.2(1)], of the financial institution

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An election can be made for a partnership if:

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the taxpayer that made the election has the authority to act for the partnership, and

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the election is made on behalf of all members of the partnership

If both these conditions are met, and the election is valid for all other purposes of the federal ITA, then a valid election will be deemed to have been made by
each member of the partnership pursuant to subsection 96(3).

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To file electronically, go to canada.ca/cra-special-elections-and-returns
Or fill out and mail this election, separately from any other return, to your tax centre.

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To find the address of your tax centre, go to canada.ca/tax-centres.

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If you are filing this election under subsection 10.1(1) for the first time, you must file on or before the filing due date of your return for the tax year for which you
are filing the election.

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You do not have to file this election every year. The first time you file to use the mark-to-market method, it will remain in effect until you revoke it.

Part 1 – Identification

If the taxpayer is an individual, or a member(s) of the partnership is an individual, are all of the individuals or their spouse self-employed

for the year of the election? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

025

Yes

002

Name

001

Social insurance, trust account, or business number ¹

Address

City

Province

Postal code

019

Name of contact person

024

Name of firm

022

Telephone number

023

Extension

If you are a corporation or a partnership, enter your full 15-digit account number.

If you are an individual, enter your 9-digit social insurance number.

If you are a trust, enter your 9-digit trust account number that starts with the letter "T", "A" or "C".

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(Ce formulaire est disponible en français.)

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Protected B when completed

Part 2 – Election and certification

If this is your first election under subsection 10.1(1), enter the first tax year you wish the

Year

Month Day

election to apply . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

200

Tax year end

If you are making a first election under subsection 10.1(1), you must file this election with the Minister of National Revenue on or before the filing due date for
the tax year you wish to elect. The first election will be valid for that tax year and for each subsequent tax year, unless the Minister has granted you
permission to revoke your election under subsection 10.1(2).

If you are making a subsequent election under subsections 10.1(1) and 10.1(3), the subsequent election will be valid for the first tax year and each
subsequent tax year that begins after the day this election is filed, unless the Minister has granted you permission to revoke your election under
subsection 10.1(2).

The taxpayer or partnership identified in Part 1 hereby elects under subsection 10.1(1) to have the provisions of subsection 10.1(4) apply in respect

of each eligible derivative . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

210

I certify that the information given in this election, and in any attached documents is true, correct and complete to the best of my knowledge.

950

954

Print name of individual, designated partner, corporation's authorized officer, or trustee

Position or office

952

955

Date

Signature of individual, designated partner, corporation's authorized officer, or trustee

Year Month Day

Part 3 – Revocation and certification

You may request a revocation under subsection 10.1(2). If the Minister grants you permission to revoke your election, the revocation will apply to each tax
year that begins after the day you are notified in writing that the Minister concurs with your revocation, subject to the terms and conditions specified by
the Minister.

The taxpayer or partnership identified in Part 1 hereby requests the permission of the Minister to revoke, under subsection 10.1(2), an election

previously made under subsection 10.1(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

300

I certify that the information given in this revocation request, and in any attached documents is true, correct and complete to the best of my knowledge.

951

956

Print name of individual, designated partner, corporation's authorized officer, or trustee

Position or office

953

957

Date

Signature of individual, designated partner, corporation's authorized officer, or trustee

Year Month Day

Privacy notice

Personal information (including the SIN) is collected and used to administer or enforce the federal Income Tax Act and related programs and activities
including administering tax, benefits, audit, compliance, and collection. The information collected may be disclosed to other federal, provincial, territorial,
aboriginal or foreign government institutions to the extent authorized by law. Failure to provide this information may result in paying interest or penalties, or in
other actions. Under the Privacy Act, individuals have a right of protection, access to and correction of their personal information, or to file a complaint with
the Privacy Commissioner of Canada regarding the handling of their personal information. Refer to Personal Information Bank CRA PPU 005, PPU 015 and
PPU 047 on Information about Programs and Information Holdings at canada.ca/cra-information-about-programs.

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