What is the Home Buyers' Plan?

The Home Buyers' Plan (HBP) is a program that allows you to withdraw up to $25,000 in a calendar year from your registered retirement savings plans (RRSPs) to buy or build a qualifying home for yourself or for a related person with a disability.

Notice on RC4135

The information on this page replaces the information in Guide RC4135, Home Buyers’ Plan, which has been eliminated.

Topics

• How can I participate in the Home Buyers' Plan?
  What are the HBP eligibility and RRSP withdrawal conditions?
• How do I withdraw funds from my RRSPs under the Home Buyers' Plan?
  Follow the steps to withdraw funds from your RRSPs
• How do I repay the funds I withdrew from my RRSPs under the Home Buyers' Plan?
  When and how much to repay, how to make a repayment and exceptions to repayment dates
• How do I cancel my participation to the Home Buyers' Plan?
  Situations when you can cancel your participation, how to cancel and due dates
• How do I report my repayments on my income tax return?
   

Notes

You will see references to the pooled registered pension plan (PRPP) in the HBP information pages. For more information, go to The Pooled Registered Pension Plan (PRPP).

Forms and publications

• Form T1036, Home Buyers' Plan (HBP) Request to Withdraw Funds from an RRSP
• Schedule 7, RRSP and PRPP Unused Contributions, Transfers, and HBP or LLP Activities

*source - Canada Revenue Agency