Cash and Security Management
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      Transferring from a FHSA account

      Learn about transfers from First Home Savings Accounts (FHSA), the forms required, and how to submit the request

      Transfers from your FHSAs to your RRSPs or RRIFs

      You will be allowed to transfer property from your FHSAs to your RRSPs or RRIFs without any immediate tax consequences, as long as it is a direct transfer and you do not have an excess FHSA amount.

      Generally, an amount that is transferred directly from your FHSAs to your RRSPs or RRIFs will not impact your unused RRSP deduction room or your unused FHSA participation room.

      You can only directly transfer property from your FHSAs to your RRSPs or RRIFs under which you are the annuitant of the plan or fund.

      If you do not do a direct transfer, the amount you withdraw from your FHSAs would be a taxable withdrawal and would be treated as a new RRSP contribution. That new contribution would reduce your unused RRSP deduction room and could result in RRSP excess contributions in certain cases.

      To complete a direct transfer from your FHSAs to your RRSPs or RRIFs, fill out Form RC721, Transfer from your FHSA to your FHSA, RRSP or RRIF and attach it to your request.

      Transfers from your FHSAs to another of your FHSAs

      Generally, you can directly transfer property from one of your FHSAs to another of your FHSAs without reducing your FHSA participation room.

      To complete a direct transfer between your FHSAs, fill out Form RC721 Transfer from your FHSA to your FHSA, RRSP or RRIF and attach it to the request. 

      How to submit the request.

      From the client's contact record, start by navigating into the Servicing (Service Request) tab, which is found in the middle panel of the contact record.

      Then click on Cash and Security Management.

      Step 1: 

      • Select Transfer.


      Step 2:

      • Select Cash transfer or Security transfer


      Step 3:

      • Select the FHSA


      Step 4:

      • Select the RRSP/RIF/FHSA

      Step 5:

      • Specify the Amount Type and Source of funds.
      • Amount types: Full or Partial?
      • Source of funds: Model or All?
      • Designated Transfer: Yes or No?

      It is important to note that a designated transfer is limited to the excess FHSA amount at the time of the designation.


      Step 6:

      • Review the request and confirm all the details.
      • Attach the RC271 
      • Enter the Dollar Amount to be transferred
      • Press submit 

      If transferring an excess amount (Designated Transfer) you must attach an RC727