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Once I open an FHSA, can I carry forward my unused contribution room?

Yes, just like with an RRSP or TFSA, you can carry forward your unused contribution room from the previous year to the next. You can carry forward up to $8,000 of your unused contributions to the next year.


Here’s an example:

You contribute $6,000 to your FHSA in 2023. Since the annual limit is $8,000, you can add the unused $2,000 to the following year, for a total of $10,000 in contributions in 2024.

However, you may not exceed the lifetime contribution limit of $40,000.

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