How to deal with your Home Buyers' Plan (HBP) or Lifelong Learning Plan (LLP) balance when you emigrate?

You might withdraw funds under the Home Buyers' Plan (HBP) to buy or build a home or withdraw funds under Lifelong Learning Plan (LLP) to attend university or college. When you emigrate from Canada and become a non-resident, you have to repay the blance of the funds you withdrew.

You have to repay the balance by the earliest of the following dates:

  • before the time you file your tax return for the year that you become a non-resident; or
  • 60 days after you become a non-resident.

If you have not repaid the funds within that time, you have to include the unpaid amount as income on your tax return for the year you emigrate.

On-stop non-resident tax service

Emigrant for income tax purpose

Frequently asked questions about RRSPs (FAQ)

Tax free savings account (TFSA) for non resident

Additional information