Does the Canada Revenue Agency (CRA) keep track of the outstanding balance of my HBP withdrawal?

Yes. Every year the CRA will send you a Home Buyers’ Plan Statement of Account. It will accompany your annual Notice of Assessment. The HBP statement will display the total HBP withdrawals, the amounts you have repaid to date, your outstanding HBP balance, and the amount you have contributed to your RRSP and designated as a repayment in the prior year.

Related Questions