RC721: Transfer from your FHSA to your FHSA, RRSP or RRIF
Form RC721 authorises a direct transfer of property from your First Home Savings Account to another FHSA, or to an RRSP or a RRIF. Download the official PDF below and open it in Adobe Acrobat Reader to fill it in.
This is the genuine CRA PDF, unmodified. Source: CRA official page.
What is RC721?
A First Home Savings Account is a registered account for saving toward a first home. RC721 is the CRA prescribed form used to move funds or property directly from one FHSA to another FHSA, or to a registered retirement savings plan or a registered retirement income fund, without the amount being treated as a taxable withdrawal. It records the account holder, the transferring institution and the receiving institution, and the amount or property being transferred.
Because it is a direct transfer between the financial institutions, the form is completed by you as the holder and by the institutions handling the transfer, rather than being filed on its own with the CRA. This is a dynamic Adobe LiveCycle PDF that renders only in Adobe Acrobat Reader and will appear blank in a browser, so download it, open it in Adobe Reader, and give it to the institution arranging the transfer.
Who files RC721?
- FHSA holders moving funds to another FHSA at a different institution
- FHSA holders transferring FHSA property into an RRSP
- FHSA holders transferring FHSA property into a RRIF
- Anyone consolidating or winding down an FHSA through a direct transfer
How to fill out RC721
- Open the downloaded RC721 in Adobe Acrobat Reader, since the dynamic PDF will not fill in a browser.
- Complete the holder section with your name, address and account details.
- Identify the transferring FHSA and the receiving FHSA, RRSP or RRIF, including the institution details for each.
- Enter the amount or property to be transferred and sign the authorisation.
- Give the completed RC721 to your financial institution, which processes the direct transfer between the accounts.
Get RC721
This is a dynamic PDF from CRA: it only fills in correctly in Adobe Acrobat Reader, so there is no in-browser fill here. Download the genuine RC721 below and open it in the free Adobe Acrobat Reader to complete and save it.
Download the official RC721 PDFFrequently asked questions
Is a transfer using RC721 taxable?
A qualifying direct transfer of FHSA property to another FHSA, an RRSP or a RRIF is not treated as a taxable withdrawal. That is the point of using the form rather than withdrawing the money and moving it yourself.
Do I send RC721 to the CRA?
No. It is a direct transfer form completed by you and the financial institutions and processed by them. You give it to the institution arranging the transfer rather than filing it separately with the CRA.
Why is the form blank when I open it?
RC721 is a dynamic Adobe LiveCycle form that only displays in Adobe Acrobat Reader. Download the file and open it in Adobe Reader instead of a browser or preview pane.