Thanks for your question. You have up to 15 years to repay to your RRSP, pooled registered pension plan (PRPP), or specified pension plan (SPP) the amounts you withdrew from your RRSP under the HBP.
Your repayment period starts the second year after the year when you first withdrew funds from your RRSP(s) for the HBP. For example, if you withdrew funds in 2020, your first year of repayment will be 2022. Click here for more information on HBP.
As for LLP, when you withdraw funds from your RRSP under the LLP, you have to make repayments to your RRSP and PRPP and/or SPP over a period of 10 years. Generally, for each year of your repayment period, you have to repay 1/10 of the total amount you withdrew until the LLP balance is zero. Click here for more information on LLP.
Please look at the links below as well. Thanks.
Repaying Withdrawals Under the Home Buyers’ Plan
Lifelong Learning Plan in Canada
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