home buyers plan hbp - cra

8/10/2019 Home Buyers Plan HBP - CRA

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Home Buyers Plan (HBP)Includes Form T1036

RC4135(E) Rev.13


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se this guide if you want information about the rulesthat apply to the Home Buyers Plan (HBP).

Definitions We have included the definitions of some ofthe terms used in this guide on page 4. You may want toread through them before you start.

Chapter 1 explains the Home Buyers Plan and theconditions of participation.

Chapter 2 provides information concerning the repaymentof withdrawals made under the HBP and differentsituations for these withdrawals.

Chapter 3 describes other rules to be considered.

If you are blind or partially sighted, you can get our publicationsin braille, large print, etext, or MP3 by goingto www.cra.gc.ca/alternate. You can also get our publications

and your personalized correspondence in these formats bycalling 1-800-959-8281.

La version franaise de ce guide est intitule Rgime d'accession la proprit (RAP).

Unless otherwise noted, all legislative references are to the Income Tax Actand the Income Tax Regulations.

Is this guide for you?

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Page Page

Definitions........................................................................... 4

Chapter 1 Participating in the HBP.............................. 5What is the HBP? ................................................................. 5

Can a withdrawal be made from any RRSP? ......... ...... 5What are the conditions for participating in the HBP? .. 5

You have to enter into a written agreement to buyor build a qualifying home ........ ......... ......... ......... ...... 6

You have to intend to occupy the qualifying homeas your principal place of residence ......... ......... ........ 6

You have to be considered a first-time home buyer ... 7Your repayable HBP balance on January 1 of the

year of the withdrawal has to be zero ........ .......... ..... 7Neither you nor your spouse or common-law partner

can own the qualifying home more than 30 daysbefore the withdrawal ......... ......... ......... ......... ......... ........ 8You have to be a resident of Canada ......... ......... .......... 8You have to complete Form T1036 for each eligible

withdrawal ................................................................... 8You have to receive all withdrawals in the same

calendar year ................................................................ 8You cannot withdraw more than $25,000........ ........ ..... 8

You have to buy or build the qualifying homebefore October 1 of the year after the year of thewithdrawal ....................................................................... 9You have to file an income tax and benefit return ...... 9

How to make an HBP withdrawal ......... ......... ......... ......... 10Your RRSP deduction may be affected by your

participation in the HBP ......... ........ ......... ......... ......... ..... 10

Chapter 2 Repaying your withdrawals........................ 10How to make your repayment......... ......... ......... ......... ....... 10What happens if I choose to begin my repayments

earlier? ............................................................................... 11

What happens if I repay more than the amountI have to repay for the year? ........ ......... ......... ......... ....... 11

What happens if I repay less than the amount Ihave to repay for the year? ........ ......... ......... .......... ......... 12

What happens if I do not repay the amount I have torepay for the year? .......................................................... 12

Special repayment situations ........ ......... ......... ......... ......... . 12The HBP participant dies ........ ......... ......... ......... ........ .... 12

You become a non-resident ......... .......... ......... ......... ......... . 13Your options in the year you turn 71 ......... ......... ......... 13

Chapter 3 Other rules you should know..................... 14What happens if I do not meet all

the HBP conditions? ........................................................ 14Cancelling your participation ......... ........ ......... ......... ..... 14How to cancel your participation ........ ......... ......... ....... 15

Participation in the HBP in a later year ......... ......... ......... . 15Use of funds withdrawn for other purposes ......... .......... 16Participation in the Lifelong Learning Plan (LLP) and

in the HBP at the same time ......... ......... ......... ......... ....... 16

Online services................................................................... 17My Account ......................................................................... 17Electronic payments ........................................................... 17

For more information........................................................ 18What if you need help? ...................................................... 18Forms and publications ......... ......... ........ ......... ......... ......... . 18

Related forms and publications ........ ......... .......... ......... 18Electronic mailing lists ......... ........ ......... ......... ......... ......... .. 18Tax Information Phone Service (TIPS) ......... ......... ......... .. 18Teletypewriter (TTY) users ......... ......... ......... ........ ......... .... 18Our service complaint process ......... ......... ......... ......... ...... 18Tax information videos ...................................................... 18Your opinion counts ........................................................... 18

Table of contents


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his section provides a general description of thetechnical terms that we use in this guide.

Arms length a relationship or transaction betweenpersons who act in their separate interests.

Related persons are notconsidered to be dealing witheach other at arms length. Related persons include

individuals connected by a blood relationship, marriage,common-law partnership, or adoption (legal or in fact). Acorporation and an individual, or two corporations, mayalso be related persons.

Unrelated persons might notbe dealing with each otherat arms length at a particular time, for example, whenone person is under the influence or control of the otheror the persons are considered to be acting together. Eachcase depends upon its own facts.

For more information, see Interpretation Bulletin IT-419,Meaning of Arms Length.

Common-law partner a person who is notyour spouse

(see the definition of spouse on the next page), withwhom you are living in a conjugal relationship, and towhom at least oneof the following situations applies. Heor she:

a) has been living with you in a conjugal relationshipand this current relationship has lasted at least 12continuous months;

NoteIn this definition, 12 continuous months includes anyperiod you were separated for less than 90 daysbecause of a breakdown in the relationship.

b)

is the parent of your child by birth or adoption; or

c)

has custody and control of your child (or hadcustody and control immediately before the childturned 19 years of age) andyour child is whollydependent on that person for support.

Eligible withdrawal this is an amount you withdrawfrom your RRSP after you have met the HBP conditionsthat apply to your situation.

HBP balance your HBP balance, at any time, is the totalof all eligible withdrawals you made from your RRSPsunder the HBP minusthe total of all amounts youdesignated as an HBP repayment, and amounts includedin your income in previous years (because they were notrepaid to your RRSPs).

Non-arms length a relationship or transaction betweentwo persons who are related to each other.

However, a non-arms length relationship might alsoexist between unrelated individuals, partnerships, orcorporations, depending on the circumstances.

Participant you are considered an HBP participant if:

you make an eligible withdrawal from your RRSPs tobuy or build a qualifying home for yourself;

you make an eligible withdrawal from your RRSPs tobuy or build a qualifying home for a related personwith a disability or to help such a person buy or build aqualifying home; or

you are the spouse or common-law partner of a

deceased HBP participant and you have elected tocontinue making the repayments of the deceasedparticipant.

Participation period your HBP participation periodstarts on January 1 of the year you make an eligiblewithdrawal from your RRSP and ends in the year yourHBP balance is zero.

Person with a disability you are considered a personwith a disability if you are entitled to the disabilityamount. For purposes of the HBP, a person with adisability includes you or a person related to you by blood,marriage, common-law partnership or adoption. A relatedperson with a disability does not have to reside with you

in the same home.We consider a person to be entitled to the disabilityamount if one of the following situations applies:

the person was entitled to the disability amount online 316 of his or her tax return for the year beforethe HBP withdrawal, and still meets the eligibilityrequirements for the disability amount when theHBP withdrawal is made; or

the person was not entitled to the disability amount forany year before the HBP withdrawal, but aForm T2201, Disability tax credit certificate,certified by aqualified practitioner, is filed for the person for theyear of the HBP withdrawal. If Form T2201 is notapproved, your withdrawals will not be consideredeligible withdrawals under the HBP, and will have tobe included in your income for the year you receivethem.

If all other eligibility requirements for the disabilityamount are met, we consider a person to be entitled tothe disability amount for HBP purposes, even if costs foran attendant or for care in a nursing home were claimedas a medical expense by or on behalf of that person.

Pooled registered pension plan (PRPP) a plan that isregistered under the Pooled Registered Pension Plans Actora similar law of a province or territory. Contributions are

made to the members accounts and are invested toprovide retirement income to the plan members.

Qualifying home a qualifying home is a housing unitlocated in Canada. This includes existing homes andthose being constructed. Single-family homes,semi-detached homes, townhouses, mobile homes,condominium units, and apartments in duplexes,triplexes, fourplexes, or apartment buildings all qualify.A share in a co-operative housing corporation thatentitles you to possess, and gives you an equity interestin a housing unit located in Canada, also qualifies.

Definitions

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However, a share that only provides you with a right totenancy in the housing unit does not qualify.

RRSP deduction limit the maximum amount you candeduct on your income tax and benefit return forcontributions you made to your RRSPs, your PRPPs, or toyour spouses or common-law partners RRSPs.

Spouse a person to whom you are legally married.

What is the HBP?The HBP is a program that allows you to withdraw fundsfrom your registered retirement savings plans (RRSPs) tobuy or build a qualifying home. You can withdraw upto $25,000 in a calendar year.

The home can be for you, or it can be for a related personwith a disability. If the home is acquired by a person witha disability or for a related person with a disability, one

of the following should apply:

it is more accessible to that person than his or hercurrent home; or

it is better suited to that persons needs.

As an HBP participant, you can acquire the home for therelated person with a disability, or you can provide thewithdrawn funds to the related person with a disabilityto help them acquire the home.

You do not have to include eligible withdrawals in yourincome, and your RRSP issuer will not withhold tax onthese amounts. You can withdraw a single amount ormake a series of withdrawals throughout the samecalendar year, provided the total of your withdrawals isnot more than $25,000. If you buy the qualifying homewith your spouse or common-law partner, or with otherindividuals, each of you can withdraw up to $25,000.

NoteYour RRSP contributions must remain in the RRSP forat least 90 days before you can withdraw them underthe HBP. If they do not, you might not be able todeduct all or part of the contributions you madeduring this period. For more information, see YourRRSP deduction may be affected by your participationin the HBP on page 10.

Generally, you have to repay all withdrawals toyour RRSPs within a period of 15 years. During thisrepayment period, you must file a return and repay anamount to your RRSPs each year until your HBP balanceis zero. If you do not repay the amount due for a year, itwill have to be included in your income for that year. Formore information, see You have to file an income taxand benefit return on page 9.

NoteSituations may arise where the repayments may haveto be made in less than 15 years. These situations areexplained starting on page 12.

Can a withdrawal be made from any RRSP?

You (the participant) can only withdraw funds froman RRSP under which you are the annuitant. In the caseof spousal or common-law partner RRSPs, the annuitantis the person who will receive benefits from the plan. Formore information about spousal or common-law partnerRRSPs, see Guide T4040, RRSPs and Other Registered Plans

for Retirement.

Some RRSPs, such as locked-in or group RRSPs, do not

allow you to withdraw funds from them. Your RRSPissuer can give you more information about the types ofRRSPs that you have and whether or not withdrawalscan be made from these plans to participate in the HBP.

Similar to locked-in RRSPs, PRPPs do not allow for HBPwithdrawals. However, you can designate your PRPPcontributions as an HBP repayment.

NoteIf you or your spouse or common-law partnerwithdraws an amount from an RRSP to which youor your spouse or common-law partner had madecontributions during the 89-day period just beforethe withdrawal, you may not be able to deductpart

or all of these contributions for any year. For moreinformation, see How to make an HBP withdrawalon page 10.

What are the conditions forparticipating in the HBP?A number of conditions have to be met in order toparticipate in the HBP. While some conditions have to bemet beforeyou can withdraw funds from your RRSPs,others apply whenor afteryou receive the funds.

Generally, if you participate in the HBP, you have tomeet all the HBP conditions yourself. However,

depending on your situation, some conditions may applyto another person. For example, if you withdraw fundsfrom your RRSPs to buy or build a qualifying home for arelated person with a disability, or to help a relatedperson with a disability buy or build a qualifying home,some conditions have to be met by that person.

Regardless of the situation, you are responsible formaking sure that all applicable HBP conditions are met.If, at any time during your participation period, acondition is not met, your withdrawal will not beconsidered an eligible withdrawal and it will have to beincluded in your income for the year it is received. Weexplain in greater detail on the chart on the next page.

Chapter 1 Participating inthe HBP


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Conditions for participating in the HBP

Situation 1 You buy or build a qualifying home for yourself.

Situation 2 You are a person with a disability and you buy or build a qualifying home for yourself.

Situation 3 You buy or build a qualifying home for a related person with a disability.

Situation 4 You help a related person with a disability buy or build a qualifying home.

Situation 1 2 3 4

Person responsible for meeting the HBP conditions You You You

Relatedperson

with adisability

YouRelated

person with a

disability

You have to enter into a written agreement to buy or build a qualifyinghome. N/A N/A

You have to intend to occupy the qualifying home as your principal placeof residence no later than one year after buying or building it. * N/A * N/AYou have to be considered a first-time home buyer. N/A N/A N/A N/A N/A

Your HBP balance on January 1 of the year of the withdrawal has to bezero. N/A N/A

Conditions you have to meet whena withdrawal is made

Neither you nor your spouse or common-law partner can own thequalifying home more than 30 days before a withdrawal is made. N/A N/A

You have to be a resident of Canada. N/A N/A

You have to complete Form T1036 for each eligible withdrawal. N/A N/A

You have to receive all withdrawals in the same calendar year. N/A N/A

You cannot withdraw more than $25,000. N/A N/A

Condition you have to meet afterall your withdrawals have been made

You have to buy or build the qualifying home before October 1 of the yearafter the year of the withdrawal. N/A N/A

* You must intend that the related person with a disability occupy the qualifying home as his or her principal place of residence.

You have to enter into a written agreementto buy or build a qualifying home

To withdraw funds from your RRSPs under the HBP,when you are buying or building a qualifying home foryourself or a related person with a disability, you mustfirst have entered into a written agreement to buy orbuild a qualifying home. Obtaining a pre-approvedmortgage does not satisfy this condition.

NoteIf you are withdrawing funds from your RRSPs tohelp a related person with a disability buy or build aqualifying home, it is the related person with a

disability who must have entered into such anagreement.

You have to intend to occupy the qualifyinghome as your principal place of residence

When you withdraw funds from your RRSPs underthe HBP, you have to intend to occupy the qualifyinghome as your principal place of residence no later thanone year after buying or building it. Once you occupy thehome, there is no minimum period of time in which youhave to live there.

In some cases, you may not occupy the qualifying homeby the end of the 12-month period after you bought orbuilt it. If this happens, you are still considered to havesatisfied this condition if, at the time you withdrew fundsunder the HBP, you did in fact, intend to occupy thehome as your principal place of residence no later thanone year after buying or building it.

NoteIf you are withdrawing funds from your RRSPs to buyor build a qualifying home for a related person with adisability, or to help a related person with a disabilitybuy or build a qualifying home, you must intend that

the related person with a disability will meet thiscondition.


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You have to be considered a first-timehome buyer

Generally, before you can withdraw funds fromyour RRSPs to buy or build a qualifying home, you haveto meet the first-time home buyers condition. If you are aperson with a disability, or you are acquiring a home fora related person with a disability or helping such aperson acquire a home, you may not have to meet thiscondition. For more information, see Exception to the

first-time home buyers condition on this page.

You are not considered a first-time home buyer if,

you owned a home that you occupied as your principalplace of residence at any time during the periodbeginning January 1 of the fourth year before the yearof the withdrawal and ending 31 days before the dateof the withdrawal; or

you have a spouse or common-law partner at the timeof the HBP withdrawal and, he or she owned a homewhich you both occupied at any time during the periodbeginning January 1 of the fourth year before the yearof the withdrawal and ending 31 days before the date

of the withdrawal.If, at the time of the withdrawal you have a spouse orcommon-law partner, it is possible that only one of youwill be considered a first-time home buyer (see theexample below).

To determine if you are considered a first-time homebuyer in 2013, complete the following questionnaire.

Are you considered a first-timehome buyer in 2013?

Question 1 Did you, at any time during the periodbeginning January 1 of the fourth year before the year of thewithdrawal (2009) and ending 31 days before the date of the

withdrawal, own a home that you occupied as your principalplace of residence?

Yes You are notconsidered a first-time home buyer.

No Go to question 2.

Question 2 Do you have a spouse or common-lawpartner?

Yes Go to question 3.

No You areconsidered a first-time home buyer.

Question 3 Did your spouse or common-law partner havean owner-occupied home, at any time during the periodbeginning January 1 of the fourth year before the year of thewithdrawal (2009) and ending 31 days before the date of thewithdrawal, that you occupied with that individual while youwere living together as spouses or common-law partners?

Yes You are notconsidered a first-time home buyer.

No You areconsidered a first-time home buyer.

If you could not participate in the HBP in a particular yearbecause you did not meet this condition, see Participationin the HBP in a later year on page 15.

ExampleIn 2010, Paul sold the home he had occupied as hisprincipal place of residence for five years. He then movedinto a rented apartment. In 2010, he met Jane and shemoved in with him. Jane had been renting her ownapartment, and had never owned a home.

Jane and Paul were married in August 2013. They wantedto withdraw funds from their RRSPs to participate in

the HBP in September 2013. Since Paul owned andoccupied his home during the period beginningJanuary 1

of the fourth year before the year he wants to

make the withdrawal, he is not considered a first-timehome buyer, so he cannot participate in the HBP in 2013.

However, Jane is considered a first-time home buyer,since she never owned a home, and she did not live withPaul during the period in which he owned and occupiedhis home as his principal place of residence. She canparticipate in the HBP in 2013, providing all the otherrequirements are met.

If Jane does not participate in the HBP in either 2013or 2014, Paul can participate in the HBP in 2015 as he willnot have owned a home that he occupied as his principalplace of residence since January 1, 2011. If they want toparticipate together in the HBP, they both have to waituntil 2015 at which time they can withdraw funds underthe HBP to buy or build a qualifying home.

Exception to the first-time home buyers conditionYou do not have to meet this condition to participate inthe HBP if anyof the following situations apply to you atthe time you make a withdrawal from your RRSPs underthe HBP:

you are a person with a disability and you withdrawfunds under the HBP to acquire a home that is moreaccessible, or better suited to your needs;

you withdraw funds under the HBP to acquire a homefor a person with a disability related to you by blood,marriage, common-law partnership or adoption, andthe home is more accessible or better suited to theneeds of that person; or

you withdraw funds under the HBP and give thosefunds to a person with a disability related to you byblood, marriage, common-law partnership or adoption,to acquire a home that is more accessible or bettersuited to the needs of that person.

Your repayable HBP balance on January 1

of the year of the withdrawal has to be zeroIf you have previously participated in the HBP, you maybe able to do so again if:

your HBP balance is zero on January 1 of the yearduring which you plan on making another HBPwithdrawal; and

you meet allthe other HBP conditions that apply toyour situation.

Your HBP balance from your last participation is zerowhen the total of your yearly designated HBP


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repayments and any amounts included in your income(because no designated HBP repayment was made asrequired for a given year) equalsthe total eligiblewithdrawals you made from your RRSPs under yourparticipation in the HBP.

NoteThe RRSP or PRPP contributions you make in the first60 days of a year, and designate as HBP repaymentsfor the previous year reduce your HBP balance forpurposes of determining whether your balance is zeroon January 1 of the current year. For more informationabout designating HBP repayments, see Chapter 2 -Repaying your withdrawals on page 10.

Neither you nor your spouse orcommon-law partner can own thequalifying home more than 30 daysbefore the withdrawalYou cannot withdraw an amount from your RRSPs underthe HBP if you or your spouse or common-law partnerowned the home described on Form T1036,Home BuyersPlan (HBP) Request to Withdraw Funds from an RRSP, morethan 30 days before the date of your withdrawal.

ExampleKate buys a qualifying home with a closing date(acquisition date) of November 1, 2013. She must makeher final withdrawal under the HBP no later than 30 daysafter the closing date. Therefore, Kate has untilDecember 1, 2013, to make her last withdrawal. If shemakes a withdrawal after December 1, 2013, it will not beconsidered an eligible withdrawal and will have to beincluded in her income for the year it is received.

NoteIf you are withdrawing funds from your RRSPs tohelp a related person with a disability buy or build aqualifying home, the person with a disability and hisor her spouse or common-law partner (if applicable)must meet this condition.

You have to be a resident of CanadaYou have to be a resident of Canada when you receivefunds from your RRSPs under the HBP and up to thetime a qualifying home is bought or built. For moreinformation about residency status, call 1-855-284-5942(toll free within Canada and the United States),

or 613-940-8495 (from outside Canada and the UnitedStates------we accept collect calls by automated response.Please note that you may hear a beep and experience anormal connection delay), or see Income taxfolio S5-F1-C1, Determining an Individuals ResidenceStatus.

If you become a non-resident after you receive yourfunds but before a qualifying home is bought or built,you may cancel your participation in the HBP. For moreinformation, see Cancelling your participationon page 14.

If you become a non-resident after a qualifying home isbought or built, you cannot cancel your participation inthe HBP. However, special rules will apply to therepayment of your HBP balance. For more information,see You become a non-resident on page 13.

You have to complete Form T1036 for eacheligible withdrawal

To make an eligible withdrawal from your RRSPs under

the HBP, you have to use Form T1036,Home Buyers Plan(HBP) Request to Withdraw Funds from an RRSP.

You have to complete this form for each withdrawal youmake. A copy is included at the end of this guide. To getadditional copies, go to www.cra.gc.ca/formsorcall 1-800-959-8281. For more information aboutcompleting this form, see How to make an HBPwithdrawal on page 10.

You have to receive all withdrawals in thesame calendar year

To participate in the HBP, you have to receive all thewithdrawals from your RRSPs in the same calendar year.

However, if you receive a withdrawal in one year andanotherin January of the following year, we considerthe January withdrawal to have been received in the yearthe first withdrawal was made.

NoteIf the January withdrawal is received before youacquire your qualifying home, or no later than 30 daysafter you acquire it, and all the other relevantconditions described in the chart on page 6 are met, itis an eligible withdrawal. For this purpose, your HBPbalance on January 1 is not a relevant condition anddoes not have to be zero.

ExampleOn October 15, 2012, Chloe withdrew $7,500 fromher RRSP under the HBP. Before the withdrawal,Chloe had entered into a written agreement to buy aqualifying home. In January 2013, she withdrew anadditional $1,500 to pay expenses she had notanticipated. Chloe acquired the qualifying home inMarch 2013. The January withdrawal is an eligible HBPwithdrawal because Chloe received it before she acquiredher qualifying home. She does not have to include it inher income for 2013.

You cannot withdraw more than $25,000

You can make more than one withdrawal, as long as thetotal of your withdrawals is not more than $25,000. If youbuy the qualifying home with your spouse orcommon-law partner, or with other individuals, each ofyou can withdraw up to $25,000 from your own RRSPs.

NoteIf the total of your RRSP withdrawals under the HBPis more than $25,000, the excess will be subject to tax,and you will have to include the excess amount inyour income for the year you received it. In addition,


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your RRSP issuer will have to withhold tax on theexcess amount at the time of the withdrawal.

You have to buy or build thequalifying home before October 1 ofthe year after the year of thewithdrawalGenerally, if you participate in the HBP in a particular

year, you have to buy or build the qualifying homebefore October 1 of the year following the year of thewithdrawal.

We consider you to have bought or built a qualifyinghome if you bought or built it alone or with one or moreindividuals. If you are building a qualifying home, weconsider you to have built the home on the date itbecomes habitable.

NoteIf you are withdrawing funds from your RRSPs underthe HBP to help a related person with a disability tobuy or build a qualifying home, the person with adisability must meet this condition.

If you do not buy or build the qualifying home beforeOctober 1 of the year after the year of the withdrawal,you can:

cancel your participation in the HBP (for moreinformation, see Cancelling your participationon page 14); or

buy or build a different home, called a replacementproperty, before October 1 of the year following theyear of the withdrawal.

A replacement property has to meet the same conditionsas a qualifying home. You do not have to completeanother Form T1036 to advise us that you are buying orbuilding a replacement property. Just send a letter to thisaddress:

Pension Workflow SectionOttawa Technology Centre875 Heron RoadOttawa ON K1A 1A2

Give your name, address, and social insurance number,as well as the address (and phone number, if possible) ofthe replacement property. Also, you have to state in theletter that you intend to occupy the replacement propertyas your principal place of residence no later than one yearafter you buy or build it.

NoteIf you have already withdrawn from your RRSPs the$25,000 maximum allowed under the HBP, you cannotmake any more HBP withdrawals to buy or build thereplacement property.

Extensions for buying or building a qualifying homeorreplacement property If you do not buy or buildthe qualifying home you indicated on Form T1036(or a replacement property) before October 1 of the yearfollowing the year of the withdrawal, we still consideryou to have met the deadline if eitherof the followingsituations applies to you:

You had a written agreement, in effect on October 1 ofthe year following the year of the withdrawal, to buya qualifying home or replacement property, and youbuy the property before October 1 of the second yearfollowing the year of the withdrawal. In addition,you have to be a Canadian resident up to the time ofpurchase (see Example 1 below).

You had paid an amount after the date of the firstwithdrawal and before October 1 of the following yearto the contractors or suppliers (with whom you deal atarms length) for materials for the home being built, ortowards its construction, that was at least equal to thetotal of all eligible withdrawals you made under theHBP (see Example 2 on the this page).

Example 1On February 10, 2011, Steven, a Canadian resident,entered into an agreement to buy a duplex, the groundfloor of which he intends to occupy as his principal placeof residence. Because of an existing lease, Stevenspossession date is May 4, 2013. On February 20, 2011,Steven withdrew $15,000 from his RRSPs under the HBP.On May 4, 2013, he takes possession of the duplex and

moves in.

Since Steven withdrew his funds in 2011, he had to buythe home before October 1, 2012. Although Steven tookpossession of the home after this deadline, we considerhim to have bought the home by the deadline because hehad an agreement in effect on October 1, 2012, he boughtthe home before October 1, 2013, and he was a Canadianresident when he bought it.

Example 2In January 2012, Clara withdrew $10,000 from her RRSPsunder the HBP. Earlier in the same month, she hadfinalized a contract to have her home built. Shepaid $7,000 when construction started in April 2012,

and $6,000 more in August 2013, for a total of $13,000.Clara dealt at arms length with the contractor.

Construction of the home is not completed untilDecember 15, 2013, because the building materialsarrived late.

Since Clara withdrew her funds in 2012, she has to havethe home built before October 1, 2013.

Although construction of the home is not completed untilDecember 15, 2013, we consider Claras home to havebeen built by the deadline because the $13,000 she paidtowards its construction before this deadline is more thanthe total amount of her withdrawals ($10,000), and

because she dealt at arms length with the contractor.

You have to file an income tax and benefitreturn

Starting in the year you make your first HBP withdrawal,you have to complete and send us an income tax andbenefit return every year until you have repaid all ofyour HBP withdrawals or included them in your income.You have to send us an income tax and benefit returneven if you do not owe any tax. Attach the T4RSP slips


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that your RRSP issuer sends you for your HBPwithdrawals.

Complete Schedule 7, RRSP and PRPP UnusedContributions, Transfers, and HBP or LLP Activities(included in your general income tax and benefitpackage), and attach it to your income tax and benefitreturn to show your total HBP withdrawals andrepayments in the year. Do notreport these amounts online 129 of your income tax and benefit return. This willhelp both you and us to keep track of them.

How to make an HBP withdrawalTo make an eligible withdrawal from your RRSPs underthe HBP, use Form T1036,Home Buyers Plan (HBP)Request to Withdraw Funds from an RRSP. You have tocomplete Form T1036 for each withdrawal thatyou make. We have included a copy of the form at theend of this guide. To get more copies of the form, go towww.cra.gc.ca/formsor call 1-800-959-8281.

Complete Area 1 of Form T1036. After you fill out thisarea, give the form to your RRSP issuer, who will fill outArea 2. Your RRSP issuer will not withhold tax from the

funds you withdraw if you meet the HBP conditions.Your RRSP issuer will send you a T4RSP slip, Statement ofRRSP Income, showing the amount you withdrew underthe HBP in box 27. Attach this slip to your income taxand benefit return.

Your RRSP deduction may beaffected by your participation in theHBPIf you participate in the HBP, certain rules limityour RRSP deduction for contributions you made toyour RRSP duringthe 89-day periodjust beforeyour

withdrawal under the HBP. Under these rules, youmay not be able to deduct all or part of the contributionsmade during this period for any year.

You cannot deduct the amount by which the total of yourcontributions to an RRSP, during the 89-day period justbefore your withdrawal from that RRSP, is more than thefair market value of that RRSP after the withdrawal.

The same rules apply if you contributed to your spousesor common-law partners RRSP during the 89-day periodjust before that individual made the withdrawal from thesame RRSP under the HBP.

In other words, for contributions to be fully deductiblethat are made to an RRSP in the 89-day period just beforean HBP withdrawal from that RRSP, the value of thatRRSP after the withdrawal must be at least equal to thosecontributions.

You and your spouse or common-law partner can usethe chart on page 19 to determine the part of thecontributions you or your spouse or common-law partnermade to an RRSP that is not deductible for any year.

ver a period of 15 years, you have to repay to yourRRSPs the amounts you withdrew under the HBP.

Generally, for each year of your repayment period, youhave to repay 1/15 of the total amount you withdrew,until the full amount is repaid to your RRSPs. Your

repayment period starts the second year followingthe year you made your withdrawals and ends when theHBP balance is zero.

You will receive aHome Buyers Plan (HBP) Statement ofAccount, each year with your notice of assessment ornotice of reassessment. This statement will show the totalHBP withdrawals, the amounts you have repaid to date,your HBP balance, and the amount you have tocontribute to your RRSPs or PRPPs and designate as arepayment for the following year.

You can view your HBP statement of account online. Formore information, go to www.cra.gc.ca/myaccount. Anauthorized representative can also access this information

online through www.cra.gc.ca/representatives.NoteEven if you declare bankruptcy, you still have to makethe annual repayment to your RRSPs for each yearremaining in your HBP participation period, until allamounts withdrawn from your RRSPs under the HBPare repaid. If you do not make the repayment for ayear, it will have to be included in your income forthat year.

How to make your repaymentTo make a repayment under the HBP, you have to makecontributions to your RRSPs or PRPPs in the year therepayment is due or in the first 60 days of the followingyear. Once your contribution is made, you can designateall or part of the contribution as a repayment under theHBP.

To designate your repayment, complete lines 245 and 246of Schedule 7, RRSP and PRPP Unused Contributions,Transfers, andHBP or LLP Activities, and file itwith yourincome tax and benefit return. You have to do this even ifyou would not otherwise have to file an income tax andbenefit return for the year.

Contributions you cannot designate Not allcontributions youmake to your RRSPs or PRPPs in therepayment year, or in the first 60 days of the followingyear, can be designated as a repayment under the HBP.You cannotdesignate contributions that:

you make to your spouses or common-law partnersRRSPs(or that he or she makes to your RRSPs);

are amounts you transfer directly to your RRSPs orPRPP from a registered pension plan (RPP), deferredprofit sharing plan (DPSP), registered retirementincome fund (RRIF), specified pension plan (SPP), oranother RRSP;

Chapter 2 Repaying yourwithdrawals

O


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are amounts you deducted as a re-contribution of anexcess qualifying withdrawal that you designated tohave a provisional past service pension adjustmentapproved;

are amounts that you designate as a repayment underthe Lifelong Learning Plan (LLP) for the year;

are amounts you contributed in the first 60 days of therepayment year, that you:

deducted on your income tax and benefit return forthe previous year, or

designated as a repayment for the previous yearunder the HBP or the LLP;

are amounts you receive in the repayment year (suchas retiring allowances) that you transfer to your RRSPsand deduct or will deduct on your income tax andbenefit return for that year.

NoteIf your RRSP deduction limit for the repayment yearis zero, you can still contribute to your RRSPs anddesignate the amount you contributed as a repaymentunder the HBP. We do not consider an amount youdesignate as a repayment under the HBP to be anRRSP contribution. Therefore, you cannot claim adeduction for this amount on your income tax andbenefit return.

ExampleIn 2011, Robert withdrew $6,000 from his RRSPs toparticipate in the HBP. Roberts repayment for 2013is $400 ($6,000 15).

In 2013, Robert contributes $8,200 to his RRSPs. Robertcould deduct the full amount as an RRSP contributionon line 208 of his 2013 income tax and benefit returnbecause his notice of assessment for 2012, shows that hehas an RRSP deduction limit of $11,000 for 2013.However, he knows an HBP repayment is required.

Therefore, Robert completes and files Schedule 7 withhis 2013 income tax and benefit return and recordshis RRSP contribution of $8,200 on line 245.He designates $400 of this amount as an HBPrepayment on line 246 of Schedule 7. Robert deductsthe remaining $7,800 as an RRSP contribution online 208 of his 2013 income tax and benefit return.

What happens if I choose to beginmy repayments earlier?In such case, your repayment period will remain thesame. Any repayments made before you are required tostart your repayments will reduce the amount you haveto repay for the first year. If your early repayments aremore than this required amount for the first year, thedifference will reduce your HBP balance and yourremaining repayment amounts over the entire repayment

period.

What happens if I repay more thanthe amount I have to repay for theyear?If your designated HBP repayment is more than theamount you are required to repay for the year, we willreduce the HBP required repayments for later years. Youwill still have to make a repayment in the following year.

The annualHome Buyers Plan (HBP) Statement of Accountthat we send with your notice of assessment or notice ofreassessment takes into account any additional payments

you made, and will give you the minimum amount youhave to repay for the next year. If you want to calculatethe minimum amount you have to repay for the nextyear, divide your HBP balance by the number of yearsremaining in your repayment period.


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ExampleIn 2007, Suzanne withdrew $16,500 from her RRSPs toparticipate in the HBP. Her minimum annual repaymentstarting in 2009 was $1,100 ($16,500 15). Suzanne madethe repayment for 2009, 2010 and 2011.

In 2012, Suzanne received an inheritance and decided tocontribute $8,000 to her RRSPs and designate thatamount as a repayment under the HBP for 2012. Shecalculates the amount she has to repay for the year 2013,using the chart below.

Calculating the annual amount Suzanne has to repay

Year

Column A

HBP balance (column A minuscolumn C for the previous year)

Column B

Amount Suzanne hasto repay for the year

Column C

Amount Suzanne repays and designatesas a repayment for the year

2009 $16,500$1,100

(16,500 15)$1,100

2010 $15,400$1,100

(15,400 14)$1,100

2011 $14,300$1,100

(14,300 13)$1,100

2012 $13,200$1,100

(13,200 12)$8,000

2013 $5,200$472.73

(5,200 11)$472.73

What happens if I repay less than theamount I have to repay for the year?If your designated HBP repayment is less than theamount you are required to repay for the year, you haveto include the difference as RRSP income on line 129 ofyour income tax and benefit return. You cannot includemore than the required repayment for the year minustheamount you repay and designate as an HBP repayment.You cannot include in income an amount that is morethan the result of this calculation.

What happens if I do not repay theamount I have to repay for the year?If you do not repay the amount you have to repay for theyear, you have to include it as RRSP income on line 129 ofyour income tax and benefit return. The amount youinclude on line 129 is the minimum amount you have torepay as shown on yourHome Buyers Plan(HBP) Statement of Account. Your HBP balance will bereduced accordingly.

Special repayment situations

Special repayment rules apply if an HBP participant: dies;

becomes a non-resident; or

reaches the age of 71.

The HBP participant dies

General rule If an HBP participant dies, the legalrepresentative has to include the participants HBPbalance in the participants income for the year of death.

The amount to be included in a deceased participantsincome for the year of death is equal to the participantsHBP balance before death less any RRSP/PRPPcontributions (made before the participant died)designated as an HBP repayment for the year of death.

ExampleJohn dies in 2013. At the time of death, his HBP balancewas $7,000. He had made a $1,000 RRSP contributionbefore he died, which he intended to designate as an HBPrepayment for 2013. Johns legal representative has to

include $6,000 ($7,000 $1,000) as RRSP income online 129 of Johns final income tax and benefit returnfor 2013.

HBP election If, at the time of death, the participanthad a spouse or common-law partner who is a resident ofCanada, that individual can jointly elect with thedeceased participants legal representative, to make therepayments under the HBP and to not have the incomeinclusion rule apply for the deceased participant. Theparticipants HBP balance at the time of death less anyRRSP contributions designated as an HBP repayment forthe year of death is treated as if the surviving spouse orcommon-law partner withdrew it, and it has to be repaidto that individuals RRSPs.

NotePrior to the year of death or in the year of death butbefore the participant dies, the surviving spouse orcommon-law partner may have also become aparticipant by, withdrawing an amount under theHBP (up to $25,000) from his or her RRSPs. There areno adverse tax consequences to the surviving spouseor common-law partner if, as a result of electing totreat the deceased participants HBP balance as his orher own, the new HBP balance exceeds $25,000.


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If, at the time of death, the participants surviving spouseor common-law partner is also a participant under theHBP and the election described above is made, thesurviving spouses or common-law partners revisedHBP balance has to be repaid over the remaining numberof years in his or her repayment period.

However, if the surviving spouse or common-law partnerwas not a participant, the deceased participants HBPbalance has to be repaid over the same number of yearsremaining in the participation period of the deceased.

To make a joint election, the surviving spouse orcommon-law partner and the deceased participants legalrepresentative must attach a signed letter to the finalincome tax and benefit return of the deceased. The lettermust state that an election is being made to have thesurviving spouse or common-law partner continuemaking repayments under the HBP, and to not have theincome inclusion rule apply for the deceased.

Generally, if the surviving spouse or common-lawpartner was not participating in the HBP but elects tocontinue making the repayments of the deceasedindividual, the surviving spouse or common-law partner

would be considered a participant and cannot make anywithdrawals under the HBP until the HBP balance iscompletely repaid and all the other applicable HBPconditions are met.

NoteIf the deceased had not made an HBP repayment forthe year of death, and the election is made, the annualrepayment for that year for the deceased would notbe required.

Example 1Ron died June 10, 2013. At the time of death, Ron wasa participant in the HBP but his common-law partner,

Joanne, was not. At the time of death, Ron has an HBPbalance of $5,000. Unless Joanne elects to make RonsHBP repayments, the $5,000 HBP balance will have tobe included in income on Rons final income tax andbenefit return for 2013.

Joanne, who is the legal representative of the estate,decides to repay Rons HBP balance. She attaches a letterto Rons 2013 final income tax and benefit return statingthat she elects to repay Rons HBP balance and to nothave the income inclusion rules apply for Ron. Joannewill continue making the repayments to her RRSPsaccording to Rons repayment period.

As a result of making the election, Joanne is now

considered a participant. She cannot make anHBP withdrawal from her RRSPs until the HBP balancehas been completely repaid, and all the other applicableconditions are met.

Example 2Susan and David are married. In 2007, they eachwithdrew $21,000 from their respective RRSPs toparticipate in the HBP. The repayment period for bothSusan and David is from 2009 to 2023.

On December 7, 2013, Susan dies. At that point, she stillhad $15,400 of her total withdrawal left to repay. She hadnot made her repayment for 2013.

David, who is the legal representative of the estate,attaches a letter to Susans final income tax and benefitreturn stating that he elects to repay her $15,400 HBPbalance to his RRSPs. As a result of making the election,the unpaid balance of $15,400 does not have to beincluded in Susans income for 2013 and a repayment forSusan for the year of death does not have to be made.

At the time of Susans death, David had made hisrepayment for 2013. His balance to be repaid is $14,000.Susans unpaid balance of $15,400 is added toDavids $14,000. He will now have an HBP balanceof $29,400. Therefore, his annual repayment for thenext 10 years (2014 to 2023, inclusive), will be $2,940,calculated as follows: ($14,000 + $15,400) 10 years.

You become a non-residentIf you become a non-resident of Canada after a qualifyinghome is bought or built, you must choose one of the

following options: Repay the remaining balance to your RRSP by the

earliest of the following dates:

before the time you file your income tax and benefitreturn for the year that you become a non-resident;or

60 days after you become a non-resident.

Include the remaining balance as RRSP income online 129 of your income tax and benefit return for theyear that you become a non-resident.

ExampleIn 2009, Jeannie withdrew $10,000 from her RRSPs underthe HBP to buy a qualifying home. OnNovember 10, 2013, she leaves Canada to live in France.At that time, her unpaid HBP balance is $4,000.

Jeannie has 60 days after becoming a non-resident ofCanada, that is, until January 9, 2014, to repay the balance.She contributes $2,500 to her RRSPs on December 2, 2013,and $1,000 to her RRSPs on January 7, 2014, for a totalcontribution of $3,500. Jeannie completes and filesSchedule 7, RRSP and PRPP Unused Contributions,Transfers, and HBP or LLP Activities, with her 2013 incometax and benefit return to designate this contribution as arepayment under the HBP. Because she has not repaid the

full amount, Jeannie has to include $500 in her 2013income, calculated as $4,000 ($2,500 + $1,000).

Your options in the year you turn 71

After the end of the year you reach the age of 71, youwill not be able to repay any withdrawals to your RRSP.This is because you cannot contribute to an RRSP orPRPP after the end of the year in which you turn 71 yearsold.


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In the year you turn 71, you can choose oneof thefollowing:

Repay to your RRSP or PRPP your remainingrepayable balance.

Make a partial repayment to your RRSP or PRPP. Yourremaining repayable balance at the beginning of theyear you turn 72 will be divided by the number ofyears remaining in your repayment period, and thatcalculated amount will be included as income on

line 129 of your income tax and benefit return for eachof those years.

Make no repayment to your RRSP or PRPP. Yourremaining repayable balance at the beginning of theyear you turn 71 will be divided by the numbers ofyears remaining in your repayment period, and thatcalculated amount will be included as income online 129 of your income tax and benefit return for eachof those years.

ExampleIn 2005, Mary withdrew $18,000 from her RRSPsto participate in the HBP. Her repayment period

began in 2007. Her annual repayment amountis $1,200 ($18,000 15 years = $1,200). In 2013, Maryreaches the age of 71.

Marys HBP balance is $10,800 at the beginning of 2013($18,000 - $7,200 (6 years of repayments) = $10,800)).For 2013, Mary can choose to make an HBP repayment,or to include $1,200 in her income. Mary decides tocontribute $5,000 to her RRSPs and designates thatamount as a 2013 repayment under the HBP. This leavesher with an unpaid balance of $5,800 at the end of 2013.Mary will have to include $725 ($5,800 8 = $725) inincome for each year from 2014 to 2021.

If Mary did not repay any part of the $10,800, she wouldhave to include $1,200 in income each year from 2013to 2021. If Mary repaid the entire $10,800 by the end ofDecember 2013, she would not have to include any of thisamount in her income, since her balance would be zero.

What happens if I do not meet all

the HBP conditions?If you do not meet all the HBP conditions, yourRRSP withdrawals will not be considered eligible andthey will have to be included in income for the year youreceived them. If we have already assessed your incometax and benefit return for that year, we will reassess it toinclude the withdrawals.

Cancelling your participation

You can cancel your participation in the HBP if you havemet all the applicable HBP conditions except for oneofthe following:

you did not buy or build a qualifying home orreplacement property; or

you became a non-resident before buying or buildinga qualifying home or a replacement property.

You can also cancel your participation, if you withdrewfunds under the HBP to help a related person with adisability acquire a home, and:

that person does not buy or build a qualifying home

or replacement property; or you become a non-resident before that person buys or

builds a qualifying home or a replacement property.

If either of these situations applies to you, complete thecancellation form on page 16.

NoteIf you make a withdrawal from your RRSP and meetall applicable HBP conditions, you cannotcancel yourparticipation.

If you repay to your RRSPs the full amount youwithdrew under the HBP, you will not be taxed on yourwithdrawal. Any portion of your withdrawal that is not

repaid will have to be included in your income for theyear you received the funds.

You can make your cancellation payments to any ofyour RRSPs or to a new RRSP or PRPP, with any issuer.

Due date for making cancellation payments If youcancel your participation because a qualifying home orreplacement property was not bought or built, yourcancellation payments are due by December 31 of theyear after the year you received the funds.

If you become a non-resident after you receive yourfunds and before a qualifying home is bought or built,your due date for the repayment will depend on when

you became a non-resident, as follows: If you were a non-resident at the time you filed an

income tax and benefit return for the year you receivedthe funds, repay the withdrawal to your RRSP by theearliest of the following dates:

the date you file your income tax and benefit returnfor the year you made the withdrawal; or

December 31 of the year after the year you made thewithdrawal.

If you became a non-resident after you filed an incometax and benefit return for the year you received thefunds, your repayments to your RRSP must be made

by December 31 after the year you madethe withdrawal.

If you do not make these cancellation payments toyour RRSP, the funds withdrawn must be included asincome on line 129 of your income tax and benefit returnfor the year of the RRSP withdrawal.

A cancellation payment is not considered as anRRSP contribution and must not be entered as acontribution in Part A Contributions of Schedule 7,because you cannot claim a deduction for this amount onyour return.

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How to cancel your participation

To cancel your participation, you have to complete theHome Buyers Plan (HBP) Cancellationform, provided onthe next page. Send us the completed form and all RRSPcontribution receipt(s) that your RRSP issuer gave you.

ExampleJason and his spouse Karen each completed Form T1036,Home Buyers Plan (HBP) Request to Withdraw Funds from

anRRSP, on April 10, 2012 to withdraw amounts fromtheir RRSPs under the HBP. Jason withdrew $12,000 fromhis RRSPs and Karen withdrew $14,000 from her RRSPs.They had entered into a written agreement onMarch 20, 2012, to buy a qualifying home onSeptember 12, 2012.

In August 2012, Jason and Karen decided not to buy thehome and to cancel their participation in the HBP. Jasonrepaid $12,000 to one of his RRSPs by December 31, 2013.He completes the cancellation form and sends it to uswith all copies of his RRSP contribution receipts.

Karen chose to repay to her RRSP only $8,000 ofthe $14,000 withdrawal she made under the HBP. She

repaid this amount by December 31, 2013. She alsocompletes the cancellation form and sends it to us withall copies of her RRSP contribution receipts so we cancancel that part of her HBP participation. Karen has toreport $6,000 as income on her 2013 income tax andbenefit return, because she did not repay these funds toher RRSP.

Participation in the HBP in a lateryearIf you could not participate in the HBP in a particularyear, because you did not meet the first-time homebuyers condition or because your HBP balance was notzero on January 1 of the year you wanted yourparticipation period to start, you may be able toparticipate in a later year.

First-time home buyer If, during the period beginningJanuary 1 of the fourth year before the year of thewithdrawal and ending 31 days before the date of thewithdrawal, neither you nor your spouse or common-lawpartner owned a home that you occupied as yourprincipal place of residence, you may be able toparticipate in the HBP. For example, if in 2008 you soldthe home you previously lived in, you may be able toparticipate in 2013. Or if you sold the home in 2009, youmay be able to participate in 2014.

HBP balance If you have previously participated inthe HBP, you can do so again if your HBP balanceon January 1 of the year in which you want your newparticipation to begin is zero, and you meet the first-time

home buyers condition as well as all the other HBPconditions that apply to your situation.

For example, if you withdrew funds from your RRSPsunder the HBP in 2002, your repayment period isfrom 2004 to 2018. If you repay the funds you withdrewover the full 15-year repayment period, you may be ableto participate in the HBP again in 2019. If you completedrepaying the funds in 2013, you may be able toparticipate in the HBP again in 2014.

NoteIf you repay the remainder of your HBP balanceowing by designating an RRSP contribution made inthe first 60 days of the following year, we consider

your HBP balance to be zero on January 1 of the yearin which the contribution was made.


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Use of funds withdrawn for otherpurposesAs long as you buy or build a qualifying home, and youmeet all the applicable conditions to participate in theHBP, you can use the funds you withdrew under theHBP for any purpose.

Participation in the Lifelong LearningPlan (LLP) and in the HBP at thesame timeYou can participate in the HBP even if you havewithdrawn funds from your RRSPs under the LLP thatyou have not yet fully repaid. For more informationabout the LLP, see Guide RC4112, Lifelong Learning Plan(LLP).

Protected B when completed

Home Buyers Plan (HBP) Cancellation

Complete this form to advise us if either of the following situations occurs (please tick the box that applies to you):

A qualifying home or replacement property was not bought or built.

I ceased to be a resident of Canada before a qualifying home or replacement property was bought or built.

If you repay your HBP withdrawals to your RRSPs, the amount will not have to be included in your income. If you do not repay all ofthe amounts withdrawn, the unpaid amounts will have to be included in your income for the year you received the funds. You can

make your cancellation payments to any of your RRSPs or to a new RRSP, with any issuer. For information on making cancellationpayments, see Cancelling your participation on page 14.

Last name First name and initials Social insurance number

Address Amount of cancellation payment

(Attach all receipts.)

City Province or Territory Postal code Telephone number

$

Participants signature Date

Send this form and your RRSP contribution receipts (if applicable) to:

Pension Workflow SectionOttawa Technology Centre875 Heron RoadOttawa ON K1A 1A2

Privacy Act, personal information bank number CRA PPU 005


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My AccountUsing the CRAs My Account service is a fast, easy, andsecure way to access and manage your tax and benefitinformation online, seven days a week! If you are notregistered with My Account but need information rightaway, use Quick Access to get fast, easy, and secureaccess to some of your information.

You can use either your CRA user ID and password oryour online banking user ID and password to log in toMy Account.

For more information, go to www.cra.gc.ca/myaccount.

Electronic paymentsMake your payment online using the CRAs My Paymentservice at www.cra.gc.ca/mypaymentor using yourfinancial institutions telephone or Internet bankingservices. For more information, go towww.cra.gc.ca/paymentsor contact your financialinstitution.

Online services


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Calculating the part of the contributions you or your spouse orcommon-law partner made to an RRSP that is not deductible for any year

Use a separate chart for each withdrawal made under the HBP.

Area 1 Complete this area if you are the only one who contributed to your RRSP during the 89-day period just before youwithdrew an amount from that RRSP.

1. RRSP account number 1

2. Amounts you contributed to the above RRSP during the 89-day period just before you withdrew an amount

from that RRSP under the HBP.* .......................................................................................................................... $

2

3. Fair market value of the property held in the above RRSP just after you made your withdrawal ........................... 3

4. Line 2 minusline 3 (if negative, enter 0). This is the amount of your contributions to the RRSP indicated online 1 that you cannot deduct for any year. ............................................................................................................ = $

4

Area 2 Complete this area if you contributed to your spouses or common-law partners RRSP during the 89-day period justbefore your spouse or common-law partner withdrew an amount from that RRSP.

5. RRSP account number 5

6. Amounts you and your spouse or common-law partner contributed to the above RRSP during the 89-day periodjust before your spouse or common-law partner withdrew an amount from that RRSP under the HBP.** .................

$

6

7. Fair market value of the property held in the above RRSP account indicated on line 5 above just after yourspouse or common-law partner made their withdrawal ........................................................................................

7

8. Line 6 minusline 7 (if negative, enter 0). This is the amount of the contributions to the RRSP indicated online 5 that is not deductible for any year.*** ..........................................................................................................

= $

8

* Do not include:

any amounts for which you did not receive an RRSP receipt;

contributions that represent lump-sum amounts (for example, retiring allowances) that you transferred to this RRSP. However,you have to include lump-sum amounts that represent contributions you made to another RRSP during the 89-day period justbefore your withdrawal, and that were transferred to the RRSP indicated on line 1;

the excess amount that you withdrew from your RRSPs in connection with the certification of a provisional past service pensionadjustment, that you re-contributed to this RRSP in the 89-day period just before your withdrawal, and for which you claim or willclaim a deduction;

an amount you contributed to this RRSP that was refunded to you as an unused amount (if you have completedForm T3012A,Tax Deduction Waiver on the Refund of Your Unused RRSP Contributions made in ____); or

amounts you contributed as a repayment or cancellation payment to your RRSP under the Lifelong Learning Plan.

** Do not include:

any amounts for which you or your spouse or common-law partner did not receive an RRSP receipt;

contributions that represent lump-sum amounts (for example, retiring allowances) that your spouse or common-law partnertransferred to this RRSP. However, you have to include lump-sum amounts that represent contributions that your spouse orcommon-law partner made to another RRSP during the 89-day period just before your spouses or common-law partnerswithdrawal, and that he or she transferred to the RRSP indicated on line 5;

the excess amount that your spouse or common-law partner withdrew from their RRSPs in connection with the certification ofa provisional past service pension adjustment, that your spouse or common-law partner re-contributed to this RRSP in the89-day period just before their withdrawal, and for which your spouse or common-law partner claims or will claim a deduction;

an amount you or your spouse or common-law partner contributed to this RRSP that was refunded to you or your spouse or

common-law partner as an unused amount (if you or your spouse or common-law partner have completed Form T3012A,Tax Deduction Waiver on the Refund of Your Unused RRSP Contributions made in ____); or

amounts your spouse or common-law partner contributed as a repayment or cancellation payment to their RRSPs under

the Lifelong Learning Plan.

*** If you and your spouse or common-law partner made contributions to the above RRSP during the 89-day period just before yourspouse or common-law partner made an HBP withdrawal, the earliest contributions made during this period are non-deductible.


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