Report FHSA activities on your tax return

Overview

If you opened an FHSA or made contributions, transfers, or withdrawals, you need to report it on your tax return. After you open your first FHSA, you'll also need to include your FHSA information on future returns whenever you have FHSA activity or want to claim an FHSA deduction.

Wealthsimple Tax uses this information to complete Schedule 15, the CRA form for FHSA contributions, transfers, and activities.

Before you start

Answering these questions can help you prepare your FHSA information:

• Did you open your first FHSA during the tax year, or become a successor holder of an FHSA?
• Did you make contributions, transfers, or withdrawals during the tax year?
• Did you have FHSA activity at more than one financial institution, including institutions other than Wealthsimple?

What you'll need

Depending on your FHSA activity, you may need:

• T4FHSA slip: Shows the contributions, transfers, and withdrawals your financial institution reported for the tax year. If you had FHSA activity at more than one financial institution, you may get a T4FHSA slip from each one.
• FHSA participation room statement: Shows your FHSA participation room, unused contributions, and other amounts from previous years, based on CRA records.

Report a new FHSA

If you opened your first FHSA during the tax year, or became a successor holder of an FHSA and didn't open one of your own, you'll need to notify the CRA:

1. Log in to your Wealthsimple profile
2. Open the Profile menu in the bottom left corner
3. Select Tax from the menu
4. Choose the desired profile
5. Navigate to the Other stuff we have to ask section
6. Find the question: "Did you open your first First Home Savings Account (FHSA) in [YEAR], or become a successor holder in [YEAR] and did not open another FHSA of your own?"
7. Select Yes

When you review Schedule 15 in the Documents section, you'll see a checkmark in box 68930 on Schedule 15.

Report FHSA activities

If you made a contribution, transfer, or withdrawal, you'll receive a T4FHSA slip from your financial institution. Report your FHSA activity in the FHSA Contributions & Income section of your tax profile:

1. Log in to your Wealthsimple profile
2. Open the Profile menu in the bottom left corner
3. Select Tax from the menu
4. Choose the desired profile
5. Add the FHSA Contributions & Income section to your tax profile, if you haven't already
6. In the first part of the FHSA Contributions & Income section, enter the amounts from your FHSA participation room statement for the tax year you're filing
7. If you have a T4FHSA slip to enter and your slip is available in your CRA My Account, you can use Auto-fill to import your data automatically into the second part of the section
8. If you have a T4FHSA slip to enter and your slip isn't yet available in your CRA My Account, you can enter it manually in the second part of the FHSA Contributions & Income section, under T4FHSA: FHSA Statement
9. If you had FHSA activity at more than one financial institution, repeat step 7 or 8 for each T4FHSA slip

If this is the year you opened your first FHSA, you won't have an FHSA participation room statement yet, so you don't need to complete the first part of the section. You'll still need to enter any T4FHSA slips in the second part. After you file your return for the year you opened your first FHSA, the CRA provides your participation room information for the following year.

What goes in each part of the section

• First part (FHSA participation room statement): Enter the CRA amounts, including previous-year contributions, carry-forward amounts, unused contributions, deductions, and other amounts used to calculate your FHSA participation room.
• Second part (T4FHSA slip): Enter the contributions, transfers, and withdrawals your financial institution reported for the tax year. This part is labelled T4FHSA: FHSA Statement.

Use the participation room statement for the year you're filing

Use the FHSA participation room statement for the tax year you're filing, which isn't always the most recent statement in your CRA My Account. For example, if you're filing your 2025 return, use your 2025 statement even if your 2026 statement is already available. A newer statement can include updated information about previous years, but it doesn't replace the statement for the year you're filing.

It's normal for the fields in the first part of the section to refer to the previous year. For example, on your 2025 return, you'll see Total contributions made to your FHSAs in 2024. Enter the 2024 amount shown on your 2025 participation room statement. The CRA uses that information to calculate your 2025 participation room.

Review Schedule 15 on your return

After you enter your FHSA information, check that Schedule 15 is included on your return:

1. Click Summary
2. Scroll down to the Documents section
3. Open Schedule 15 – FHSA Contributions, Transfers and Activities

Frequently asked questions

Related articles

• Add sections to your Tax profile
• Check which slips and data you can import with Auto-fill My Return