What is the deadline for using the funds in an FHSA after opening it ?

The deadline for using the funds in a First Home Savings Account (FHSA) is either:

• 15 years from the date you opened the account: You have up to 15 years to use the funds in your FHSA for the purchase of your first home.
• By the end of the year, you turn 71: If you reach the age of 71 before the 15-year period ends, you must use the funds by the end of the year in which you turn 71.