Non-residents and FHSAs

Only residents of Canada can open a first home savings account (FHSA). For more information about opening an FHSA, go to Who can open an FHSA.

If you are not a resident of Canada, you cannot open an FHSA. For more information about non-residents, go to Non-residents of Canada.

Becoming non-resident after opening an FHSA

If you become a non-resident of Canada after you open your FHSA, you can continue to participate normally in your FHSA, with one exception:

One of the requirements of a qualifying withdrawal is that you must be a resident of Canada throughout the period that begins with the date of the first qualifying withdrawal and ends with the date of acquisition of the qualifying home.

If you are a non-resident of Canada, any taxable withdrawal from your FHSA will be subject to withholding tax in the year of withdrawal.

The withholding tax is 25% for non-residents of Canada, unless reduced by a treaty. For more information, go to Information Circular IC76-12, Applicable rate of part XIII tax on amounts paid or credited to persons in countries with which Canada has a tax convention.

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