Election not to be a Canadian-controlled private corporation (CCPC)

A Canadian-controlled private corporation (CCPC) can elect not to be a CCPC for purposes of the eligible dividend treatment. If it so elects, it is deemed not to be a CCPC for the tax year in which it makes the election and all later tax years, until it revokes the election. The corporation will lose its entitlement to the small business deduction. However, no other benefits of CCPC status will be affected.

A corporation that revokes an election will become a CCPC again for the tax year that follows the tax year in which the revocation is made.

Use Form T2002, Election, or Revocation of an Election, not to be a Canadian-controlled Private Corporation, to make or to revoke an election previously made, and file it by the due date of the T2 return. We will not accept an election or revocation of an election after the filing due date.


A corporation that has previously revoked an election must get written consent from the CRA to make or revoke another election.

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