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Enjoy a tax-free way to save for your first placeLegal Disclaimer1, Legal Disclaimer2.
Open and fund your accountLegal Disclaimer3—we’ll take care of buying and managing your investments for you.
Open an Account Open an AccountWhat is an FHSA?
An FHSA is a new registered investment account that you can use to save for your first home, without paying any tax on the money you earn or take outLegal Disclaimer1, Legal Disclaimer2. At RBC InvestEase, the money you put in your FHSA will be invested in a professionally-built portfolio of exchange-traded funds (ETFs) that we manage for you.
Highlights of the FHSA:
- Contribute up to $8,000 a year tax-free, up to a lifetime limit of $40,000Legal Disclaimer4
- Potentially reduce your tax bill (contributions are tax-deductible)
- Carry forward unused contribution room for up to one yearLegal Disclaimer 4, Legal Disclaimer 5
- Pay $0 in taxes on your investment earningsLegal Disclaimer 2
- Take advantage of both the RRSP Home Buyers’ Plan (HBP) and an FHSA
- Transfer unused funds to your RRSP or RRIF, tax-freeLegal Disclaimer 5
Numbers to Know
$8,000
Annual tax-deductible FHSA
contribution limitLegal Disclaimer4
$40,000
Lifetime FHSA
contribution limit
$0
How much you’ll pay in taxes
on a qualified withdrawal from your FHSALegal Disclaimer 1
Benefits of an RBC InvestEase FHSA
- A team to manage your investments
- Simple way to save for your first home
- Advice when you need it
- Access on the RBC Mobile appLegal Disclaimer6
- Low fees to save you money
- Easy to set up ongoing deposits
See How Easy It Can Be to Save for Your First Home
At RBC InvestEase, we pick, buy and manage the investments in your FHSA so you don’t have to.
The first step to opening an RBC InvestEase FHSA is to share some info so that we can match you with the right professionally-built investment portfolio to hold in your FHSA. We’ll ask you about:
- Your investing timeframe
- How much you plan to invest
- Your feelings about risk
Your portfolio will contain low-cost exchange-traded funds (ETFs) and align with the goal and risk comfort level you share with us. All of our portfolios come with two options to select from—a Standard Portfolio and a Responsible Investing Portfolio. Learn more about our ETF portfolios.
After accepting your portfolio recommendation and choosing either the Standard or Responsible Investing Portfolio, you can finish opening your account and make your first deposit to your FHSA. We’ll automatically invest your money when your balance reaches $100 or moreLegal Disclaimer3.
Since the money you earn from investments you hold in an FHSA (interest, dividends or capital gains) is not taxedLegal Disclaimer2, it has the opportunity to grow faster than it would in a non-registered account.
To transfer money to your FHSA or check your progress, simply log in to your RBC InvestEase dashboard. (If you’re an RBC client, you can also access your account from Online BankingLegal Disclaimer6 and the RBC Mobile appLegal Disclaimer6.) Plus, you can set up ongoing deposits (weekly, monthly, etc.) into your FHSA to save without even having to think about it.
Our Portfolio Advisors will keep an eye on your investments and rebalance your portfolio as needed to help you stay on track toward buying a home. Plus, you can reach out at any time if you have questions or need a little advice.
Note: You can make tax-deductible contributions of up to $8,000 annually, up to a lifetime contribution limit of $40,000. If you don’t contribute the full $8,000 in a single year, the balance can be carried forward and added to the next year’s contribution amount. Up to $8,000 of unused contribution room from the previous year can be used annually.
One of the best things about the FHSA is that you don’t have to pay tax on the money you withdraw, as long as it’s used to buy a qualifying homeLegal Disclaimer1. While you can take money out of your FHSA to use for a qualifying home purchase, it will take about 5 to 7 business days for your funds to become available.
If you withdraw only a portion of the funds from your FHSA to purchase a qualifying home, you can transfer any remaining funds to your Registered Retirement Savings Plan (RRSP) or Registered Retirement Income Fund (RRIF) on a tax-free basis on or before December 31 of the year following your initial withdrawalLegal Disclaimer5. Otherwise, you must withdraw the remaining balance as taxable income.
Tip: You can use both an FHSA and the RRSP Home Buyers’ Plan (HBP) to purchase a qualifying home. Keep in mind that you’ll have to repay any funds through the HBP, but not with an FHSA.
FHSA FAQs
Possibly, yes! You are considered a first-time homebuyer again if you (and/or your spouse or common-law partner) haven’t owned a home (that you also lived in) in the past four yearsLegal Disclaimer*. That means you can open a First Home Savings Account (FHSA) to save for your next home, even if you’ve owned one in the past.
The First Home Savings Account (FHSA) gives you a lot of time and flexibility to save up for your first home. Once you open your account, you can put money away for up 15 years before you have to use your savings to buy a homeLegal Disclaimer*. Just remember—the sooner you open your FHSA and make regular contributions, the more time your future down payment will have to grow!
A First Home Savings Account (FHSA) at RBC InvestEase may be ideal if you want a quick and easy way to save for your first homeLegal Disclaimer*. Unlike do-it-yourself (DIY) investing, we pick, buy and manage the investments in your FHSA for you.
No, we do not notify you if you’re approaching your First Home Savings Account (FHSA) contribution limit. One reason why is because you can hold more than one FHSA at different financial institutions. (Note that your contribution room is the same whether you have one, two or more FHSAs.)
You can find your available FHSA contribution room by logging in to your Canada Revenue Agency (CRA) account. You are responsible for ensuring you don’t overcontribute to your FHSA.
The funds in your First Home Savings Account (FHSA) have to be used by December 31 of the 15th year after opening your first FHSA account or the year you turn 71, whichever comes first. If you have not used the funds in your FHSA by that time, one option is to transfer them tax-free to your Registered Retirement Savings Plan (RRSP) at RBC InvestEase without impacting your RRSP contribution room.
You can also transfer unused funds to a Registered Retirement Income Fund (RRIF) tax-free; otherwise, your withdrawal will be taxed.
You could save up to $75,000 (or more) tax-free to use towards your first home’s down payment:
- You can borrow up to $35,000 through the Registered Retirement Savings Plan (RRSP) Home Buyers’ Plan (HBP).
- Plus, you can contribute up to $40,000 to your First Home Savings Account (FHSA) and let your money grow tax-free.
- This is a combined total of $75,000 or more ($35,000 from RRSP HBP + $40,000 from FHSA contributions and earnings) you could have for your home.
- If your spouse or common-law partner does the same, you could have a combined total of $150,000 or more.
Note that you’ll have to pay back any funds from the RRSP HBP, but not the FHSA.
There are no fees to withdraw funds from your First Home Savings Account (FHSA) at RBC InvestEase. If you’d like to withdraw funds from your account, sign in to RBC InvestEase and click on Move Money from the top menu and then select Withdraw.
RBC InvestEase is a restricted portfolio manager providing access to model portfolios consisting of RBC iShares ETFs with each model portfolio holding up to 100% of RBC iShares ETFs. RBC iShares ETFs are comprised of RBC ETFs managed by RBC Global Asset Management Inc. (RBC GAM) and iShares ETFs managed by BlackRock Canada Limited (BlackRock Canada). RBC GAM and BlackRock Canada have entered into a strategic alliance to bring together their respective ETF products under the RBC iShares brand, and to offer a unified distribution support and service model for RBC iShares ETFs.
Other products and services may be offered by one or more separate corporate entities that are affiliated to RBC InvestEase Inc., including without limitation: Royal Bank of Canada, RBC Direct Investing Inc., RBC Dominion Securities Inc., RBC Global Asset Management Inc., Royal Trust Corporation of Canada and The Royal Trust Company. RBC InvestEase Inc. is a wholly-owned subsidiary of Royal Bank of Canada and uses the business name RBC InvestEase.
The services provided by RBC InvestEase are only available in Canada.
Legal Disclaimer*
You may be eligible to open an FHSA if you or your spouse have never owned a home in which you lived at any time during the part of the calendar year before the account is opened or at any time in the preceding four calendar years.
Legal Disclaimer1
Pay no taxes on “qualifying withdrawals” made under the First Home Savings Account registered plan for “first-time home buyers” buying a “qualifying home”. Conditions for making a “qualifying withdrawal” must be satisfied at the time of making a withdrawal from your FHSA, otherwise your withdrawal will be treated as a taxable withdrawal. For details see Canada Revenue Agency First Home Savings Account.
Legal Disclaimer2
Assets in a registered plan must be Qualified Investments under the Income Tax Act. If a registered plan holds non-Qualified Investments, it could be subject to tax.
Legal Disclaimer3
Your money will not be invested until your account balance reaches $100 or more. Small balances (less than $1,500) may be allocated to a Small Balance portfolio that invests in a limited selection of RBC iShares ETFs and/or cash. Our Small Balance portfolios follow similar risk profiles to our Standard Portfolios while investing in fewer RBC iShares ETFs.
Legal Disclaimer4
Contribute up to $8,000 annually, plus up to $8,000 of unused contribution room from the previous year if you have it, up to a lifetime maximum of $40,000. Your available contribution room can be found at https://www.canada.ca/en/revenue-agency/services/e-services/e-services-individuals/account-individuals.html.
Legal Disclaimer5
The funds in your FHSA have to be used by December 31 of the 15th year after opening the account, or by December 31 of the year you turn 71, whichever comes earlier. If you have not used the funds in your FHSA by that time, you can transfer the funds from your FHSA on a tax-free basis to your Registered Retirement Savings Plan (RRSP) without impacting your RRSP contribution room, or to your Registered Retirement Income Fund (RRIF). Otherwise, you can withdraw funds from your FHSA, but your withdrawal will be taxed.
Legal Disclaimer6
RBC Mobile is operated by Royal Bank of Canada, RBC Direct Investing Inc. and RBC Dominion Securities Inc. RBC Online Banking is provided by Royal Bank of Canada.
Registered Investment Account
Registered investment accounts offer unique tax advantages to help you save for the future. The features, benefits and rules for registered accounts are determined by the Government of Canada.
Registered Investment Plans
Registered investment plans offer unique tax advantages to help you save for the future. The features, benefits and rules for registered plans are determined by the Government of Canada.
With the federal government's Home Buyers' Plan, you can use up to $35,000 of your Registered Retirement Savings Plan (RRSP) savings ($70,000 for a couple) to help finance your down payment on a home.
To qualify, the RRSP funds you're using must be on deposit for at least 90 days. You must also provide a signed agreement to buy or build a qualifying home.
The best part is the withdrawal is not taxable as long as you repay it within a 15-year period. The payback amount is at least one-fifteenth a year of the amount you withdrew from your RRSP.
ETFs are designed to hold stocks and bonds in a single container. That container is a fund you can buy.
While they're similar to mutual funds, ETFs don't have investment minimums. Also, an ETF can offer more trading flexibility since it trades on an exchange (like a stock) throughout the day, with prices fluctuating continuously.
In the world of investing, balance is having the right mix of investments (or assets) in your portfolio to help reach your goals.
Over time, deposits, withdrawals and performance can cause your portfolio to drift from its original mix. To help keep your portfolio on track, we will buy or sell the appropriate exchange-traded funds (ETFs) to rebalance your portfolio.
An investment portfolio is a container that holds all your investments...like stocks, ETFs, mutual funds and cash.
At RBC InvestEase, our portfolios are made up of ETFs and cash.
An asset class is a grouping of investments that share similar features. Stocks (equities) and fixed income investments, such as bonds, are two of the main types of asset classes. Cash and cash equivalents is the third most common type of asset class.
The Management Expense Ratio (MER) includes a few different costs:
- Annual management fee: Paid to the fund manager for acting as a trustee and manager.
- Operating expenses: Covers fees to comply with regulatory requirements and fees payable to the ETF’s board of governors.
- Taxes: These are the sales taxes on management and administration fees charged to the fund.
Investment funds pay investment fund managers a fee for managing their funds. You are not directly charged the management fee. But, these fees affect you because they reduce the amount of the fund’s return to you. Information about management fees and other charges to your investment funds is included in the prospectus or fund facts document for each fund.
See our FAQs for a detailed explainer.
Régime de placement enregistré
Les régimes de placement enregistrés offrent des avantages fiscaux uniques qui vous aident à épargner pour l’avenir. Les caractéristiques, les avantages et les règles applicables aux régimes enregistrés sont établis par le gouvernement du Canada.
Régime de placement enregistré
Les régimes de placement enregistrés offrent des avantages fiscaux uniques qui vous aident à épargner pour l’avenir. Les caractéristiques, les avantages et les règles applicables aux régimes enregistrés sont établis par le gouvernement du Canada.
Grâce au Régime d’accession à la propriété du gouvernement fédéral, vous pouvez puiser jusqu’à 35 000 $ dans votre Régime enregistré d’épargne-retraite (REER) (70 000 $ pour un couple) pour effectuer la mise de fonds sur votre première maison.
Pour utiliser les fonds de votre REER, ceux-ci doivent y avoir été déposés depuis au moins 90 jours. Vous devez avoir signé un contrat d’achat ou de construction d’un logement admissible.
Le grand avantage de cette option est que le retrait n’est pas imposable à condition que vous le remboursiez dans un délai de 15 ans. Le montant du remboursement annuel doit être d’au moins un quinzième du montant retiré de votre REER.
À l’instar des piscines, les FNB sont des structures ou des contenants. Tandis que les parois de la piscine servent à contenir l’eau, les FNB servent à détenir des actions et des obligations au sein d’un même contenant. Ce contenant est en fait un fonds dont vous pouvez acheter des parts.
Les FNB ressemblent aux fonds communs de placement, sauf qu’ils ne requièrent aucun placement minimal. De plus, les FNB offrent davantage de souplesse au chapitre des opérations, car ils se négocient en bourse toute la journée, et les prix fluctuent constamment.
Vous savez que le fait de manger des fruits, des légumes, des protéines et des glucides sains favorise une alimentation équilibrée. Dans le monde des placements, on obtient cet équilibre en ayant une composition de l’actif qui aide à atteindre ses objectifs.
Au fil du temps, la composition de votre portefeuille peut changer en raison des dépôts, des retraits et des rendements. Pour vous aider à garder votre portefeuille sur la bonne voie, nous achèterons ou vendrons les FNB pertinents pour le rééquilibrer.
Une catégorie d’actifs est un regroupement de placements dont les caractéristiques sont semblables. Les actions (titres) et les placements à revenu fixe, comme les obligations, sont deux des principales catégories de titres. Les espèces et quasi-espèces sont la troisième catégorie de titres en importance.
Le portefeuille de placement est le contenant qui renferme tous vos placements… comme des actions, des FNB, des fonds communs de placement et des liquidités.
Les portefeuilles de RBC Investi-Clic sont composés de FNB et de liquidités.
Le ratio des frais de gestion (RFG) englobe plusieurs frais :
- Frais de gestion annuels : Rémunération payable au gestionnaire de fonds pour agir à titre de fiduciaire et de gestionnaire.
- Frais d’exploitation : Frais qui comprennent les frais liés au respect de la réglementation nationale et la rémunération payable au conseil des gouverneurs des FNB.
- Taxes : Taxes de vente applicables sur les frais de gestion et d’administration qui sont facturés à chaque fonds.
Les fonds de placement paient des frais aux gestionnaires de fonds. Ces frais de gestion ne vous sont pas facturés directement. Ils vous concernent toutefois, car ils viennent réduire le rendement de vos placements. Des renseignements sur les frais, dont les frais de gestion, sont fournis dans le prospectus ou le document Aperçu du fonds de chaque fonds.
Vous trouverez une explication plus détaillée dans notre FAQ.