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  1. Olympia Trust Company
  2. FAQs
  3. First Home Savings Account (FHSA)

First Home Savings Account (FHSA)

Learn more about the First Home Savings Account.
  • What is an FHSA?
  • Who can open an FHSA?
  • What is the Annual Administration Fee for a FHSA?
  • How does an FHSA work?
  • How do I make a contribution to my FHSA?
  • When are contributions tax deductible?
  • Can I transfer funds from my RRSP to an FHSA?
  • What is a qualifying withdrawal?
  • Do I have to repay withdrawn amounts to my FHSA?
  • Can I use the FHSA and Home Buyers’ Plan at the same time?
  • Can I withdraw funds if I’m not purchasing a home?
  • How long can my FHSA stay open?
  • How do I close my FHSA?
  • When will I receive my FHSA tax documents?
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