Before you can designate an amount as a repayment to your Lifelong Learning Plan (LLP), you need to report your contributions to your RRSP in the RRSP Contributions & Deduction section.
Designate a repayment to your LLP in the RRSP Contributions & Deduction section.
- Enter your total LLP balance, you can find this on your LLP Statement of Account.
- Enter the required amount to be repaid in the year. This is also on your LLP Statement of Account.
- Designate the RRSP contribution that you entered as a repayment under your LLP.
- If you didn’t contribute enough to your RRSP in the year, we’ll automatically include that amount in your income.
How much do I need to repay to my LLP?
You can find this amount on your LLP Statement of Account (in CRA My Account or on last year’s Notice of Assessment). If can’t find it, you can either calculate it or contact the CRA.
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