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 balance of the funds you withdrew.
You have to repay the balance by the earliest of the following dates:
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- 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.