The comedy, which will not be released this month as planned, stars Marc Labreche, Diane Kruger and Emma de Caunes, among others.
The film follows the story of Jean-Marc Leblanc (Labreche), a bureacrat who leaves behind his dead-end job and marriage and begins to live his fantasy life.
For Arcand, it will be his first time back at the festival since earning the prizes for best scenario and best female actress (Marie-Josee Croze) in 2003 with the film Les Invasions barbares.