FHSA Contribution Room Calculator 2026
Work out how much you can put in your First Home Savings Account this year. Enter the year you opened your first FHSA and what you contributed (or transferred from an RRSP) each year; the calculator applies the CRA's carry-forward and $40,000 lifetime rules year by year.
| Year | Contributions + transfers |
|---|---|
| 2023 | |
| 2024 | |
| 2025 | |
| 2026 |
This free calculator works from yearly totals. The spreadsheet version (Excel / Google Sheets) lets you:
- log every FHSA deposit and RRSP transfer by date and institution
- see FHSA, TFSA and RRSP room and over-contribution warnings on one summary page
- track TFSA room from 2009 and RRSP deduction room for the Mar 1, 2027 deadline
- get a blank file plus a filled example, works offline
How the CRA counts FHSA room
In the year you open your first FHSA, your participation room is $8,000. Each later year you get a new $8,000, plus a carry-forward of whatever you did not use the year before, but the carry-forward is capped at $8,000. That means the most you can ever put in during one year is $16,000, and only if you skipped the previous year. Room only starts building once you open an account: years before you opened one give you nothing. Your total contributions and RRSP transfers over your lifetime can't exceed $40,000.
Investment growth inside the FHSA does not use room, and taking money out (for a home or otherwise) does not give room back. Transfers from your RRSP use the same room as cash contributions, even though they are not deductible.
Also saving in a TFSA? Use the TFSA room calculator. Version française (CELIAPP).
Frequently asked questions
What is the FHSA limit for 2026?
The annual FHSA limit is $8,000 and the lifetime limit is $40,000. These amounts are set in law and are not indexed to inflation.
How does FHSA carry-forward work?
If you contribute less than your room in a year, the unused part (up to $8,000) carries forward to the next year only. For example, if you opened an FHSA in 2025 and contributed $3,000, you carry $5,000 into 2026, giving you $13,000 of room for 2026.
Can I carry forward FHSA room from before I opened an account?
No. Participation room only starts in the year you open your first FHSA. If you are eligible but have not opened one yet, opening one before December 31 starts your $8,000 for this year, and anything unused carries forward to next year.
What is the maximum I can put in an FHSA in one year?
$16,000: the $8,000 annual amount plus a maximum $8,000 carry-forward. In the year you open your first FHSA the maximum is $8,000.
Do RRSP transfers to an FHSA count against my room?
Yes. Direct transfers from your RRSP to your FHSA use your FHSA participation room the same way contributions do, but you can't deduct them.
Can contributions made in January or February count for the previous year?
No. Unlike an RRSP, FHSA contributions count for the calendar year in which you make them, including those made in the first 60 days of the year.
What happens if I over-contribute to my FHSA?
The CRA charges a tax of 1% per month on the highest excess FHSA amount in each month it remains. You can remove the excess with a designated withdrawal or a designated transfer to your RRSP (Form RC727).
Who can open an FHSA?
You must be a resident of Canada, at least 18 years old and no older than 71 at the end of the year, and a first-time home buyer, which generally means you did not live in a home that you or your spouse or common-law partner owned in the current year or the previous four calendar years.
How long can I keep an FHSA open?
Your FHSA participation period ends at the earliest of: 15 years after you opened your first FHSA, the end of the year you turn 71, or the end of the year after your first qualifying withdrawal to buy a home.
Sources
- CRA: Participating in your FHSAs (participation room and carryforward)
- CRA: First Home Savings Account (FHSA) overview
- CRA: What happens if you contribute or transfer too much to your FHSAs
Not tax or financial advice. Uses the CRA participation room rules as of October 13, 2026. It does not handle withdrawals, designated amounts or re-participation room after an over-contribution. Your CRA account and notice of assessment are the official record of your FHSA room; check them before contributing near your limit.