If you participated in the Home Buyers' Plan (HBP)

The year you turn 71 is the last year you can make repayments to your RRSP under the Home Buyers' Plan.

You must choose from the following options:

• you can repay to your RRSP the entire Home Buyers' Plan balance;
• you can make a partial repayment to your RRSP. The remaining balance is calculated into yearly repayments according to the number of years remaining in your repayment period. Each year, as an annual repayment becomes due, include the repayment amount as income on line 129 of your tax return; or
• you can continue each year, as an annual repayment becomes due, to include the repayment amount as income on line 129 of your tax return.

To learn more, see Home Buyers' Plan.