CRA indicated that it will accept a rollover form filed with a "yes" answer to the question concerning the existence of a price adjustment clause as sufficient notice of a price adjustment clause respecting a 85(1), 85(2) or 97(2) rollover transaction. However, in order to give effect to a price adjustment clause, the parties will be required to file an amended election under s. 85(7.1) and pay the penalty under s. 85(8). CRA went on to state:
[W]here no form is required (for example, with respect to a transfer of property pursuant to section 86 or 51), the CRA considers that the mere failure of the parties to notify the CRA of the transaction does not preclude the application of the provisions of … IT-169, provided that all other conditions set out in that Bulletin are satisfied.