The Home Buyers’ Plan is a program that allows you to withdraw funds from your RRSP to buy or build a home for yourself or for a related person with disability. The T1036 Home Buyers’ Plan (HBP) form is used to determine whether you are eligible to participate in the plan and request the withdrawal from your RRSP.
To participate in the HBP, you’ll be asked if you’re using RRSP money as a first-time homebuyer or to buy or build a qualifying home for a related person with a disability. You must be a Canadian resident and intend to make the home a principal place of residence for you or a person with a disability. You can withdraw a maximum of $25,000 under the plan.