Tax Election Portal Closing Date
April 1, 2027
Unitholders should complete the online tax election questionnaire by the Tax Election Portal Closing Date, which may be as early as April 1, 2027. This is subject to the Effective Date and may change accordingly. Unitholders should complete their election in sufficient time to meet their own filing deadlines.
Important Information Regarding Tax Elections
On August 31, 2026, a Joint Management Information Circular (the “Circular”) was published with further detail on the simplification of the corporate structure, pursuant to which Brookfield Renewable Partners L.P. (“BEP”) would convert from a partnership structure into a publicly traded Canadian corporation, Brookfield Renewable Partners Inc. (“BEP Inc.”) (the “Transaction”). Capitalized terms used on this site that are not otherwise defined have the meaning ascribed to them in the Circular.
For a more complete discussion of the Canadian federal income tax consequences of the Transaction, see “Certain Canadian Federal Income Tax Considerations” in the Circular. The Canadian federal income tax consequences of the Transaction are complex, and holders of BEP Units are urged to consult their tax advisors regarding the tax consequences of the Transaction in light of their particular circumstances.
Eligible Canadian Holders of BEP Units (as outlined in the Circular) will receive BEP Inc. Class A Shares as consideration pursuant to the Transaction.
Generally, an Eligible Canadian Holder who validly makes a joint election with BEP Inc. under section 85 of the Income Tax Act (Canada) (the “Tax Act”) may obtain a full or partial deferral of any capital gain that would otherwise arise on the disposition of such Eligible Canadian Holder’s BEP Units.
The section 85 election process described on this site is for Eligible Canadian Holders who dispose of BEP Units solely for BEP Inc. Class A Shares.
Eligible Canadian Holders will be able to complete an online questionnaire, once available, to support preparation of the required election forms free of charge. This site provides key details, timelines and next steps to help you prepare and make an informed decision.
Only “Eligible Canadian Holders” (as defined in the Circular) are eligible to file a section 85 election. You are an Eligible Canadian Holder if you are or are deemed to be a resident of Canada for Canadian income tax purposes (or, if filing on behalf of a partnership, at least one member of the partnership is or is deemed to be resident of Canada for Canadian income tax purposes) and you are not exempt from tax.Holders who hold their BEP Units through Registered Plans, including TFSAs, RRSPs, and certain other registered plans and deferred profit sharing plans (as defined in the Tax Act), will not be Eligible Canadian Holders and will therefore not qualify to file a Joint Tax Election.
Not sure? Unitholders should consult their own tax advisors regarding their specific circumstances before filing.
Overview
The purpose of making a Joint Tax Election is to permit Eligible Canadian Holders to fully or partially defer the realization of any capital gain realized on the disposition of their BEP Units pursuant to the Transaction. The election is made under section 85 of the Tax Act.
For many Canadian resident taxpayers, it can be advantageous to make the Tax Election if you are eligible and are in a position where you will realize a capital gain. However, Unitholders should consult their own tax advisors to determine whether making the Tax Election is appropriate. If you do not make the election, the exchange of your BEP Units could trigger adverse tax consequences for the taxation year in which the disposition occurs.
The federal income tax election form is CRA Form T2057 (or, if the BEP Units are held by a partnership, CRA Form T2058). Some Eligible Canadian Holders may also need to file separate election forms with their provincial taxing authority.
Some key information you will need to complete the form:
Before starting the online questionnaire, please gather the following information so you can complete it in one sitting:
Announcement
Date: July 21, 2026
Brookfield announced that the boards of BEP and BEPC approved the proposed simplification of the corporate structure, subject to BEP Unitholder and BEPC Shareholder votes.
Unitholder Vote & Shareholder Vote
Date: October 14, 2026
The special meeting of unitholders will be held virtually on October 14, 2026 at 11:00 am (Toronto time), and the special meeting of shareholders will be held virtually on October 14, 2026 at 12:00 pm (Toronto time).
Unitholder Notice
Unitholders who are Eligible Canadian Holders may, at their option and in accordance with the instructions set out in the Circular, submit a Unitholder Notice indicating their intention to exchange their BEP Units on a full or partial rollover basis. Notwithstanding that BEP Inc. has received a Unitholder Notice from an Eligible Canadian Holder, further actions as described herein must be taken by such holder in order to make a joint tax election.
Effective Date
It is anticipated that the Transaction will be completed in the fourth quarter of 2026.
Election Questionnaire Opens
No later than 90 days following the Effective Date, the detailed transfer terms and FMV figures will become available and the tax election portal will open for Eligible Canadian Holders to begin the section 85 election process. Eligible Canadian Holders will complete an online questionnaire, which will be made available on this site, to begin the section 85 election process. The questionnaire is designed to collect the information required to prepare your election forms and guide you through each step.The tax election portal is being kept open until at least April 1, 2027 to provide maximum flexibility; however, each Eligible Canadian Holder is responsible for completing the Eligible Canadian Holder’s election in sufficient time to meet their own filing deadlines. This is subject to the Effective Date and may change accordingly.
Election Forms Prepared
Forms will be prepared within 30 days of a completed submission of the online questionnaire. In order to receive the Forms by April 30, 2027, all online questionnaires must be completed by April 1, 2027.
Applicable election forms, including Form T2057 or Form T2058 and any applicable provincial filings, will be prepared based on your questionnaire responses and shared with you within 30 days of the Unitholder submitting complete information. Please ensure you submit complete information in sufficient time to meet your own filing deadlines.
Election Forms Signed and Submitted
Unitholder to review, sign and submit forms to the relevant tax authority in accordance with the instructions provided. Each Unitholder is also responsible for ensuring their forms are submitted by the applicable filing deadline.
Eligible Canadian Holders will complete an online questionnaire, which will be made available on this site, to begin the section 85 election process.
The questionnaire is designed to collect the information required to prepare your election forms and guide you through each step.
Important
You are responsible for your own tax election forms, including any applicable provincial filings. This includes ensuring the election forms are correct and complete and complying with the provisions of the Tax Act (and applicable provincial income tax law). You are responsible for reviewing, signing and filing your election forms with the CRA (or the applicable provincial taxing authority) by the applicable filing deadlines.
Failure to complete the process properly or on time may result in the Transaction being treated as a taxable disposition and/or taxes, interest or penalties for which you are responsible.
This information is general only. Unitholders should consult their own tax advisors regarding their specific circumstances.
Once a complete questionnaire and signed authorization are submitted, your Joint Tax Election will be prepared for your review within 30 days of submission, subject to the information you provide being complete.
Only Unitholders who are “Eligible Canadian Holders” (as outlined in the Circular) are eligible to file a section 85 election. As a Unitholder, you are an Eligible Canadian Holder if you are a resident of Canada for Canadian income tax purposes (or, if filing on behalf of a partnership, at least one member of the partnership is resident of Canada for Canadian income tax purposes) and you are not exempt from tax.
Reach out to bep-s85support@taxelection.ca for technical and procedural inquiries with the Tax Election Portal, and consult your own tax advisor for advice about eligibility, forms, elected amounts, deadlines, and filing requirements.