Use the RRSP Home Buyers’ Plan
How does the RRSP Home Buyers’ Plan work?
The Home Buyers’ Plan lets eligible participants withdraw RRSP funds toward a qualifying home and repay the amount over time. It differs from an FHSA qualifying withdrawal, which does not require repayment.
Where to begin
- Check the HBP conditions, including the buyer test, residency, written agreement and home-acquisition requirements.
- Ask your RRSP issuer whether the plan permits HBP withdrawals; recent contributions can have deduction restrictions.
- Complete a separate T1036 for each withdrawal, fill in Area 1 and give it to the issuer to complete Area 2.
- Track the total withdrawn and keep the forms and confirmations.
- Use your CRA HBP statement to confirm when repayment starts and the amount due; designate repayments on Schedule 7 when filing.
Before you open the official service
- Purchase or building agreement, withdrawal dates and any previous HBP balance.
- RRSP contribution history and the CRA HBP statement.
Keep your actual documents and account details off this website. Use the official service’s current checklist before applying.
What to check for your situation
The repayment start year depends on the first-withdrawal year. A repayment is not an RRSP deduction; a required amount not repaid may become taxable income.
Fees, processing times and document rules can change. This page helps you navigate; it does not confirm eligibility or replace the government’s instructions.
Forms and checklists
Official sources
canada.ca · Official websiteCRA — HBP eligibilityEligibility includes buyer, residency, written-agreement and acquisition conditions; a mortgage pre-approval alone is not a purchase agreement.Checked
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