CRA forms, explained

Reviewed by EverStone CPA · August 2026

Quick answer: Each page below covers one CRA form: what it does, who signs it, when it is due, what has to be attached, and what it costs if it is filed late. Every deadline is taken from a CRA source, which is linked on the page.

Elections

An election changes how a transaction is taxed, and almost all of them are unforgiving about dates. A late, amended or revoked election carries a penalty of the lesser of $8,000 and $100 for each complete month from the election’s original due date to the date the request reaches the CRA in a form it finds satisfactory.

T2057 — The Section 85 Rollover ElectionElection on Disposition of Property by a Taxpayer to a Taxable Canadian Corporation T2054 — The Capital Dividend ElectionElection for a Capital Dividend Under Subsection 83(2) T2200 — Declaration of Conditions of EmploymentDeclaration of Conditions of Employment T2125 — Reporting Self-Employed Business IncomeStatement of Business or Professional Activities

Why the form number matters

Most tax writing is organised around concepts — rollovers, capital dividends, worker classification. That is not how the form reaches you. It arrives as a number on a page, usually attached to a deadline, and often from somebody who assumes you already know what it is.

These pages are organised the other way round: by the number in your hand.

Holding a form and a deadline?

Elections are date-driven, and the penalty runs by the month. Email us before the date rather than after — we quote the work in writing first.

Email us about a CRA form