Student leaves school or does not enrol in time

Source URL

https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/rrsps-related-plans/lifelong-learning-plan/special-circumstances/student-leaves-school-does-enrol-time.html

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Student leaves school or does not enroll in time

Answer a few questions to determine if you have to cancel your LLP withdrawal or repay over a 10-year period.

For you to be able to repay the LLP withdrawals over a 10-year period, the LLP student usually has to meet one of the following conditions:

  • complete the program
  • continue to be enrolled in the educational program at the end of March of the year after the LLP withdrawal

Example


In September 2021, George withdraws $1,000 from his RRSPs under the LLP. Earlier in the same month, he enrolled in a four-month college program and paid $750 in tuition fees. George completes the program in January 2022. Therefore, he can repay his LLP amounts over a 10-year period.

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Date modified:
2021-12-13