The Home Buyers' Plan (HBP) is a program that allows you to withdraw up to $35,000 in a calendar year from your RRSP to buy or build a qualifying home for yourself or for a related person with a disability. Funds must have been held within your RRSP for at least three months to qualify for an HBP withdrawal.
When submitting a withdrawal request for your RRSP, make sure you indicate "Home Buyers' Plan" as the reason for your withdrawal. If you make the withdrawal request on desktop, you can then follow the prompts on the screen to ensure you are eligible and set up the withdrawal.
If you make the withdrawal request in-app, after initiating the withdrawal, you'll receive an email within 24 hours with the necessary paperwork (a T1036 form) we need in order to approve and process the remaining steps of your withdrawal.
For the bottom section of the form, please use Canadian ShareOwner Investments as the RRSP Issuer. This is our brokerage. Their information is as follows:
RRSP Issuer: Canadian ShareOwner Investments Inc.
Address: 241 Spadina Avenue, 3rd Floor, Toronto, ON, M5T 2E2
Phone: (416) 595-9600
Once the paperwork is complete, send it back to us and our support team will review it to make sure everything is in order. Once approved we'll send out your funds within 1-2 business days.
Claiming repayments to an RRSP in relation to an HBP withdrawal
Generally, you must repay a Home Buyer's Plan withdrawal back to your RRSP within 15 years (For more detailed information, visit here). You do not need to make repayments directly to the RRSP you withdrew from.