Canada Revenue Agency (CRA) Edition RC727 E (25) 3 pages

Form RC727 — Designate an Excess FHSA Amount as a Withdrawal or a Transfer to your RRSP or RRIF

The form for getting rid of an FHSA over-contribution, either by taking it out of your FHSA or by moving it to your RRSP or RRIF.

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Form RC727 · Designate an Excess FHSA Amount as a Withdrawal from your FHSA or as a Transfer to your RRSP or RRIF
The official Canada Revenue Agency (CRA) form, edition RC727 E (25) — blank
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Form RC727 (2025) Designate an Excess FHSA Amount as a Withdrawal from your FHSA or as a Transfer to your RRSP or RRIF — page 1 of 3
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Form RC727 (2025) Designate an Excess FHSA Amount as a Withdrawal from your FHSA or as a Transfer to your RRSP or RRIF — page 2 of 3
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Form RC727 (2025) Designate an Excess FHSA Amount as a Withdrawal from your FHSA or as a Transfer to your RRSP or RRIF — page 3 of 3
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Fill this form online Blank PDF from Canada Revenue Agency (CRA)

What is Form RC727?

Form RC727 is the Canada Revenue Agency (CRA) form for designating an excess FHSA amount as a withdrawal from your first home savings account, or as a transfer from your FHSA to your registered retirement savings plan (RRSP) or registered retirement income fund (RRIF). You may have an excess amount if your contributions and RRSP transfers to your FHSAs in a year were more than your FHSA participation room, and a 1% tax applies each month on the highest excess in that month. The current edition is RC727 E (25).

You fill out Parts 1 to 3 (your details, the FHSA, the excess and the amount to designate), then sign Part 4 for a designated withdrawal or Part 6 for a designated transfer, never both. The FHSA issuer completes Part 5 for a withdrawal; for a transfer the receiving RRSP issuer or RRIF carrier, the transferor and the receiving institution complete Parts 7 to 9.

FileIt checks that the designated amount isn't more than your excess, prints it on the withdrawal or the transfer line with its cents in the form's own cells, and makes you sign only the part that matches your choice. The completed CRA PDF is saved in the person's vault folder. FileIt doesn't send it to any institution.

Who fills it
The FHSA holder; then the institutions
Given to
Your FHSA issuer (withdrawal) or the receiving RRSP issuer or RRIF carrier (transfer)
Why
To stop the 1% monthly tax on an excess FHSA amount
One form per
Designated withdrawal or designated transfer
Signatures
The holder signs Part 4 or Part 6
Edition
RC727 E (25)

Who needs to fill out Form RC727?

  • FHSA holders who contributed or transferred more than their FHSA participation room.
  • Holders who want the excess back as cash (a designated withdrawal).
  • Holders who'd rather move the excess into their RRSP or RRIF (a designated transfer).

When to use Form RC727

  • As soon as you find out you have an excess FHSA amount, since the 1% tax keeps applying each month until it's gone.
  • When you know the excess immediately before the withdrawal or transfer.
  • For each designated withdrawal or transfer you make.

What you need before you start

  • Your name, social insurance number (SIN), address and telephone number.
  • The FHSA issuer's name and address, and the FHSA contract or account number.
  • Your excess FHSA amount immediately before the withdrawal or transfer.
  • Your total FHSA contributions and any earlier designated withdrawals, or your total RRSP-to-FHSA transfers and any earlier designated transfers.
  • For a transfer: whether it goes to your RRSP or your RRIF.

What’s on Form RC727

The 2025 edition has 3 pages. FileIt asks for it in 6 parts, and it is signed by Fhsa holder (designated withdrawal) and Fhsa holder (designated transfer) and Issuer or carrier:

  1. Part 1 – FHSA holder informationFhsa holder
  2. Part 2 – Source of propertyFhsa holder
  3. Part 3 – Excess FHSA amountFhsa holder
  4. Part 4 – FHSA holder (for a designated withdrawal)Fhsa holder (designated withdrawal)
  5. Part 6 – FHSA holder (for a designated transfer)Fhsa holder (designated transfer)
  6. Part 7 – Issuer or carrier (designated transfer)Issuer or carrier

How to fill out Form RC727, step by step

1 Parts 1 and 2 – You and the FHSA

Your name, SIN, address and telephone, then the issuer, contract or account number and address of the FHSA the property comes from. You must be its holder.

2 Part 3 – Excess FHSA amount

Enter your excess immediately before the designation, tick withdrawal or transfer, and enter the amount to designate. A withdrawal can't be more than the excess, or more than your total FHSA contributions minus earlier designated withdrawals. A transfer can't be more than the excess, or more than your total RRSP-to-FHSA transfers minus earlier designated transfers.

3 Part 4 – Designated withdrawal

For a withdrawal only. Anything above your contributions minus earlier designated withdrawals is a taxable FHSA withdrawal for the year. Print your name, sign and date, and give the form to your FHSA issuer for Part 5.

4 Part 6 – Designated transfer

For a transfer only. Tick RRSP or RRIF. Anything above your RRSP transfers minus earlier designated transfers is a regular transfer that doesn't reduce your excess. Print your name, sign and date, and give the form to the receiving RRSP issuer or RRIF carrier.

5 Parts 5, 7, 8 and 9 – The institutions

The FHSA issuer confirms a withdrawal (Part 5). For a transfer, the receiving institution confirms what it will accept and the plan or fund number (Part 7), the transferor confirms what it moved (Part 8), and the receiving institution confirms receipt (Part 9). A receiving institution using FileIt can fill Part 7 as an optional part.

Common mistakes to avoid

  • Designating more than your excess FHSA amount.
  • Filling out both Part 4 and Part 6; complete only the one that matches the box you ticked in Part 3.
  • Waiting: the 1% tax applies for every month the excess remains.
  • Deducting a designated withdrawal of contributions on your return; the instructions say you can't.
  • Sending the form to the CRA instead of your institution.

After you fill it out

Print the PDF from your FileIt vault, sign Part 4 or Part 6 and give it to your FHSA issuer (withdrawal) or the RRSP issuer or RRIF carrier receiving the property (transfer). FileIt doesn't send it.

Look for the designated amount on your T4FHSA slip, which tells you how to report it.

Keep a copy with your FHSA records; each party keeps one, as the instructions say.

Fill out Form RC727 online with FileIt

  1. Pick the person. Choose someone from People and FileIt fills in their name, date of birth, address and other details it already knows.
  2. Answer plain-language questions. One part of the form at a time, with the official help text beside each question — 27 fields in all. Your answers save as you go.
  3. Check the live preview. Watch your answers land on the real Canada Revenue Agency (CRA) form, and let FileIt do any worksheet arithmetic.
  4. Generate the official PDF. FileIt prints your answers into the agency’s own PDF and files it in that person’s folder in your vault. Sign it, or send it for e-signature.

FileIt fills the form — it never files or submits anything for you. Deliver the finished form to whoever asked for it, the way the form’s instructions say.

Start Form RC727 now — it’s free

Form RC727: frequently asked questions

What is an excess FHSA amount?

Generally, the amount by which your contributions to your FHSAs and transfers from your RRSPs in a year go over your FHSA participation room for that year. For the calculation, the form points to canada.ca/contribute-transfer-too-much-fhsa.

Should I choose a withdrawal or a transfer?

A designated withdrawal takes the excess out of your FHSA. A designated transfer moves it to your RRSP or RRIF. The limits differ: a withdrawal is capped by your contributions, a transfer by your RRSP-to-FHSA transfers. FileIt doesn't advise which suits you.

Is a designated withdrawal taxable?

The instructions say a designated withdrawal isn't included in your income, and the contributions withdrawn can't be deducted. Any part above your contributions minus earlier designated withdrawals is a taxable withdrawal.

Can I fill out RC727 online?

Yes. FileIt guides you through Parts 1 to 3 and the part you sign, and prints your answers on the CRA's official RC727 PDF, saved in your vault.

Official sources

FileIt is not affiliated with or endorsed by Canada Revenue Agency (CRA) or any government. This page explains the form in general terms and is not legal, tax or immigration advice. Always read the official instructions, and check that you are using the edition the recipient accepts. Page last reviewed 2026-10-19.

Fill out Form RC727 online