The Home Buyers’ Plan
The Home Buyers’ Plan (HBP) is a program that allows you to withdraw from your registered retirement savings plans (RRSPs) to buy or build a qualifying home for yourself or for a specified disabled person. Currently, the HBP withdrawal limit is $60,000.
Note
You can withdraw amounts from your RRSP under the HBP and make a qualifying withdrawal from your first home savings account (FHSA) for the same qualifying home, as long as you meet all of the conditions at the time of each withdrawal. For information about FHSA, go to First home savings account (FHSA).
Related information
Contributions to a PRPP
References to the pooled registered pension plan (PRPP) in the HBP information pages
Definitions for the Home Buyers’ Plan
Definitions of some of the terms for the HBP
How to avoid common Home Buyers’ Plan mistakes
Learn about common mistakes that can impact your HBP and discover how to avoid them
Related forms and publications
- Form T1036, Home Buyers’ Plan (HBP) Request to Withdraw Funds from an RRSP
- Schedule 7, RRSP, PRPP, and SPP Contributions and Transfers, and HBP and LLP Activities
- Form RC471, Home Buyers’ Plan (HBP) – Cancellation
- Form RC98, Election to transfer the Home Buyers’ Plan (HBP) or Lifelong Learning Plan (LLP) balance at time of death
Consult the Taxpayer Bill of Rights to understand your rights and obligations when dealing with the CRA.