How do I withdraw my RRSP for a Lifelong Learning Plan?

Lifelong Learning Plan (LLP)

The Lifelong Learning Plan (LLP) is a program that allows you to borrow up to $20,000 from your RRSP to pay for full or part-time education and training. The maximum that can be withdrawn in any calendar year is $10,000. Please note that an LLP cannot be used to pay for a child's education and that funds must have been in your account for at least three months to qualify.

To withdraw funds from your RRSP under the LLP, you'll need to fill out an RC96E form. You will be prompted with this when you set up the withdrawal through your Mercer Invest Wise dashboard. Simply click on your name in the top-right corner and you will see an option for "Withdrawals". Be sure to select your reason for withdrawal as 'Education using a Lifelong Learning Plan' to download the required form and upload it.

For the bottom section of the form, please use Canadian ShareOwner Investments as the RRSP Issuer. This is our brokerage. Their information is as follows:

RRSP Issuer: Canadian ShareOwner Investments Inc.
Address: 862 Richmond St W #201, Toronto, ON M6J 1C9
Phone: (416) 595-7200

Once we receive this form, we can liquidate your RRSP for you! Trades take 3 business days to settle, so the entire process takes about 7 business days. We will stay on top of this for you but if you have any questions, please give us a call at +1 855-866-8844.