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Canada Revenue Agency Du revenue Du Canada RC96 E (12) Protected B when completed Lifelong Learning Plan (LLP) Request to withdraw funds from an RESP NOTE: In this form, the text inserted between
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What is lifelong learning plan llp?
The lifelong learning plan (LLP) is a program offered by the Canadian government that allows individuals to withdraw funds from their registered retirement savings plans (RRSPs) to finance their education or training.
Who is required to file lifelong learning plan llp?
Individuals who meet the eligibility criteria, such as being a Canadian resident and having sufficient funds in their RRSP, can choose to file a lifelong learning plan (LLP) to withdraw funds for educational purposes.
How to fill out lifelong learning plan llp?
To fill out the lifelong learning plan (LLP), individuals need to complete Form RC96, Lifelong Learning Plan (LLP) - Request to Withdraw Funds from an RRSP, and submit it to the Canada Revenue Agency (CRA). The form requires information such as personal details, RRSP information, and educational institution details.
What is the purpose of lifelong learning plan llp?
The purpose of the lifelong learning plan (LLP) is to provide individuals with a tax-effective way to fund their education or training by allowing them to withdraw funds from their RRSPs without immediate tax implications.
What information must be reported on lifelong learning plan llp?
When filling out the lifelong learning plan (LLP), individuals need to provide information such as their personal details, RRSP contribution and withdrawal amounts, educational institution details, and the purpose of the educational program.
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