Lifelong Learning Plan

The Lifelong Learning Plan (LLP) allows you to withdraw up to $10,000 in a calendar year from your RRSPs to finance full-time training or education for you or your spouse or common-law partner . You cannot participate in the LLP to finance your children's training or education, or the training or education of your spouse's or common-law partner's children. As long as you meet the LLP conditions every year, you can withdraw amounts from your RRSPs until January of the fourth calendar year after the year you made your first LLP withdrawal. You cannot withdraw more than $20,000 in total.

Related information

• Definitions
  General explanations of the terms the CRA uses for LLP
• Important dates
  When a student must have received an offer to enroll
• Sign in to your CRA account
  Use one of the CRA online services for direct access to your LLP account balance

Related forms and publication

Forms

• Form RC96 Lifelong Learning Plan (LLP) - Request to withdraw funds from an RRSP
  Use this form to make a withdrawal from your Registered Retirement Savings Plan (RRSP) under the Lifelong Learning Plan (LLP)
• Form RC97 Lifelong Learning Plan (LLP) – Cancellation
  Use this form to request the Canada Revenue Agency (CRA) to cancel your Lifelong Learning Plan (LLP) withdrawal
• Form RC98 Election to transfer the Home Buyers' Plan (HBP) or Lifelong Learning Plan (LLP) balance at time of death
  Use this form if you (the surviving spouse or common-law partner) were resident in Canada immediately before your spouse's or common-law partner's death, and you are electing to transfer your deceased spouse's or common-law partner's Home Buyers' Plan (HBP) or Lifelong Learning Plan (LLP) repayable balance to you
• Schedule 7 - RRSP, PRPP and SPP Contributions and Transfers and HBP and LLP Activities

Guide

• P105, Student and income tax
  This pamphlet provides detailed tax information for students including the most common income, deductions, and credits available to them