You become a non-resident

After the year you made an LLP withdrawal

If you become a non-resident of Canada after the year you made an LLP withdrawal, you have to include your LLP repayable balance in income on your income tax and benefit return for the year you become a non-resident or repay that balance to your RRSP or PRPP or both.

The due date for this repayment is the earliest of the following dates:

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

You have to designate your repayment for the year by completing Schedule 7, RRSP and PRPP Unused Contributions, Transfers, and HBP or LLP Activities and filing it with your income tax and benefit return for the year that you become a non-resident. If you do not repay your LLP balance by the due date, you have to include the unpaid amount in your income for the year that you became a non-resident. The amount is included in your income for the period you were a resident of Canada.

Before the end of the year in which you make an LLP withdrawal

If you become a non-resident before the end of the year in which you make an LLP withdrawal, you have to cancel your LLP withdrawals by paying them back to your RRSP or PRPP or both.

For more information, see Cancelling your LLP withdrawal.

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