The first repayment is required on the tax return two years after the withdrawal year.
Example: If you made a withdrawal in June 2016, your first repayment was required for the 2018 taxation year. You therefore had until March 1, 2019, to make your contribution and thus complete your first HBP repayment.
The repayment amount is be equivalent to 1/15th of the amount withdrawn, and so on for the next 14 years.
If you wish to make a HBP repayment greater than the amount required for the current year, please call our Saving Services agents.
See the Canada Revenue Agency HBP guide for more information.