You will not be able to repay any funds you withdrew from your RRSP after the end of the year you reach the age of 71. This is because you cannot contribute to an RRSP after the end of the year in which you turn 71 years of age.

In the year you turn 71, you can choose one of the following:

• repay the remaining repayable balance to your RRSP, PRPP or SPP,
• make a partial repayment to your RRSP, PRPP or SPP. Your remaining repayable balance at the beginning of the year you turn 72 will be divided by the number of years remaining in your repayment period. That calculated amount will be included as income on line 12900 of your income tax and benefit return for each of the years after,
• make no repayment to your RRSP, PRPP or SPP. Your repayable balance at the beginning of the year you turn 71 will be divided by the numbers of years remaining in your repayment period. That amount will be included as income on line 12900 of your income tax and benefit return for each of the years after.

For more information, refer to Lifelong Learning Plan.