T1036 Home Buyers' Plan (HBP) Request to Withdraw Funds from an RRSP
File with your RRSP issuer, not CRA. Must be submitted before the withdrawal. You have until October 1 of the year after withdrawal to close.
CRA: T1036 →Stage · Buying your first home in Canada
Closing the deal
Land transfer tax, first-time rebates, and the HBP withdrawal all happen here. Province overlays are at their heaviest.
What to do this week
- Submit your HBP withdrawal request with form T1036 at least 90 days after the funds landed in your RRSP.
- File the provincial land transfer tax first-time rebate at registration. Most provinces allow up to 18 months after if you miss it.
- Confirm your lawyer has the closing disclosure, payout statements for any discharged mortgage, and title insurance.
What to avoid
- Large money moves in the week before close. Lenders re-pull credit and bank statements right up to funding.
- Forgetting the Toronto or Vancouver municipal overlay if you are buying in those cities. Municipal LTT is separate from provincial.
- Ignoring closing cost estimates. Budget 1.5% to 4% of purchase price on top of the down payment.
Calculators for this stage
Forms to file at this stage
Frequently asked
How much are closing costs?
Budget 1.5% to 4% of the purchase price. Major items: land transfer tax, legal fees, title insurance, home inspection, status certificate (condos), PST on CMHC premium (where applicable), and first month's property tax and utility adjustments.
Can I claim the first-time buyer land transfer tax rebate if my partner already owned a home?
In most provinces, only the first-time-buyer portion of the purchase qualifies. If one of two purchasers is a first-time buyer, the rebate is typically halved. Check your province's exact rule.
When do I actually need the HBP cash?
Typically in the week before closing, so it can be wired to your lawyer as part of the down payment. File T1036 with your RRSP issuer at least a couple of weeks before you need the funds. You have until October 1 of the year after withdrawal to close.
What is title insurance and do I need it?
Title insurance protects against survey errors, fraud, and undisclosed encumbrances. It is a one-time premium, typically a few hundred dollars. Most lenders require it.
Next stage
After you close →