The performance-based assessment and design become more wide-spread in structural engineering practice. The relationship between deformation limits and performance levels (immediate occupancy, life safety, and collapse prevention) are reasonably well established for steel-reinforced concrete (RC) walls. However, performance of RC walls reinforced with fiber-reinforced-polymer (FRP) bars can be substantially different. Four full-scale shear wall specimens were tested; two specimens were reinforced with glass-FRP (GFRP) bars, while the other two specimens were reinforced with steel bars. Analysis of the experimental observation defined the three performance levels and compared to the specified limits provided in the ASCE/SEI 41-06 in the drift ratio format. It was found that the GFRP-RC shear walls developed significant deformability, exceeding the ASCE/SEI 41-06 deformation performance limits due to the elastic nature of the GFRP bars. This suggested proposing new deformation limits for the GFRP-RC walls associated with the damage description of each of the three performance levels.