What is the Home Buyers' Plan (HBP)?

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 related person with a disability.


Currently, the HBP withdrawal limit is $35,000. This applies to withdrawals made after March 19, 2019.

If you contributed more to your, your spouse’s or common-law partner’s RRSP than your RRSP deduction limit allowed, you may have an excess RRSP contribution and may be required to file a T1-OVP, Individual Tax Return for RRSP, PRPP and SPP Excess Contributions even if you withdrew the contribution under the HBP. For more information, go to Guide T4040, RRSPs and Other Registered Plans for Retirement.



You will see references to the pooled registered pension plan (PRPP) in the HBP information pages. For more information, go to Contributions to a PRPP.

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