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01

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02

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03

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How to fill out a RC721 online?

Follow these steps to complete your RC721 form online.

Step 01

Access Form RC721 from the CRA website or a PDF editor.

Step 02

Complete Parts 1, 2, and 3 of the form with accurate information.

Step 03

Submit the form to the issuer of the receiving FHSA, RRSP, or RRIF.

Step 04

Ensure the receiving issuer or carrier completes and signs Part 4.

Step 05

Receive the completed form back and sign Part 5.

Step 06

Ensure the receiving issuer or carrier signs Part 6 after processing the transfer.

Canada Revenue Agency - Form RC721

What is a RC721 used for?

Form RC721 is issued by the Canada Revenue Agency (CRA) and is used by individuals to request the transfer of funds from their First Home Savings Account (FHSA) to another FHSA, a Registered Retirement Savings Plan (RRSP), or a Registered Retirement Income Fund (RRIF). This form helps ensure that such transfers occur without immediate tax consequences, provided they comply with the applicable limits and conditions.

Who needs to fill out a RC721 form

Individuals holding a First Home Savings Account (FHSA) who wish to transfer funds to another FHSA, RRSP, or RRIF.

What is the purpose of Form RC721?

It is used to request the transfer of funds from an FHSA to another FHSA, RRSP, or RRIF without incurring immediate tax penalties.

When is Form RC721 not necessary?

It is not required for direct transfers between your own FHSAs or if transferring to RRSPs or RRIFs within allowable limits.

How do I sign Form RC721 online?

You can sign it using a handwritten signature, a digital certificate-based signature, or an electronic signature that meets legal standards.

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