How to make an HBP withdrawal

To make an eligible withdrawal under HBP follow these steps:

Step 1: Make sure you meet all conditions for HBP

See Conditions for participating in the HBP to make sure you have all conditions before applying to withdraw funds under the HBP.

Step 2: Fill out Form T1036

You must complete Area 1 of Form T1036, Home Buyers' Plan (HBP) Request to Withdraw Funds from an RRSP.

Step 3: Give Form T1036 to your issuer

Your RRSP issuer will complete Area 2 of Form T1036.

Step 4: Withdraw funds from your RRSP

Step 5: Issuer sends you T4RSP statement

You will receive a T4RSP, Statement of RRSP Income, showing your withdrawal.

Step 6: File your income tax return

You will have to file an income tax return starting the year you make your first HBP withdrawal and for each following year until you have repaid all HBP withdrawals.

Forms and publications

• Form T1036, Home Buyers' Plan (HBP) Request to Withdraw Funds From an RRSP
• Guide RC4135, Home Buyers' Plan (HBP)

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