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How to Submit a Lifelong Learning Plan (LLP) Withdrawal Request

Learn how to submit a Lifelong Learning Plan (LLP) Withdrawal Request to access funds from a client's Optimize RRSP or Spousal RRSP Account

Applies To: 

  • All Portfolio Managers, Advisors, Wealth Planners, and support staff.
  • Eligible account types: RRSP and Spousal RRSP accounts.

You can submit a Lifelong Learning Plan (LLP) Withdrawal request from a client’s CRM Contact Record. Follow the instructions below to ensure all eligibility requirements, financial details, and withdrawal information are accurately completed.

Important: Please note that withdrawals of this nature require to be submitted by 1PM Wednesday in order to be reviewed and processed in time for the model trades for that particular week.

When to Submit a Lifelong Learning Plan (LLP) Withdrawal request:

  • The client is a first-time homebuyer and wants to withdraw funds from their RRSP to purchase or build a qualifying home.
  • The client meets the eligibility requirements set by the Canada Revenue Agency (CRA) for HBP withdrawals.
  • The client is withdrawing funds within the allowable limits for LLP withdrawals.

How to Submit a Lifelong Learning Plan (LLP) Withdrawal Request

To submit a Lifelong Learning Plan (LLP) Withdrawal request, you'll use the Service Extension on the client's CRM Contact Record. When submitting the request, there are two distinct submission methods and workflows: Manual Submission, which involves upload a scanned or physically signed document, and Straight-Through Processing (STP), which automatically generates the required forms and sends it to the client through DocuSign.

Although both methods are valid, we strongly recommend using Straight Through Processing whenever possible for real-time tracking, reduced errors, and faster turnaround times.

Learn more about Straight-Through Processing.

How to Submit a Lifelong Learning Plan (LLP) Withdrawal Request using Manual Submission

Choose this method if your client has already completed and signed the required authorization forms.

  1. Navigate to the Client's CRM Contact Record
  2. Go to the Servicing Tab
  3. Select "Account Administration → Special Account Requests

  4. Select "Lifelong Learning Plan (LLP)" as your request type
  5. Select the Target Account
  6. Select the Offset Account
  7. Select the Bank
  8. Select Manual Submission
  9. Enter the Withdrawal Amount
  10. Upload Required Documents:
    • You'll need to attach a signed RC96 Lifelong Learning Plan (LLP) Form. To add an attachment, click +Add file and upload the file from your computer.
  11. Review and Submit
    • Once you confirm the details, click Submit to create the service request ticket.

Tip: Ensure that the TRC96 Lifelong Learning Plan (LLP) Form is signed and properly filled out to avoid processing delays or rejections.

Learn more about completing a RC96 Lifelong Learning Plan (LLP) Form.

How to Submit a Lifelong Learning Plan (LLP) Withdrawal Request using STP

With STP, Optimize automatically generates and emails the necessary forms to your client for electronic signing through DocuSign.

  1. Navigate to the Client's CRM Contact Record
  2. Go to the Servicing Tab
  3. Select "Account Administration → Special Accounts

  4. Select "Lifelong Learning Plan (LLP)" as your request type
  5. Select the Target Account
  6. Select the Offset Account
  7. Select the Bank
  8. Select Straight-Through Processing
  9. Enter the Home Buyers Information: 
    • A series of questions will guide the eligibility assessment for a LLP withdrawal. Each response will determine the next question displayed, ensuring the client meets the necessary qualifications. Please answer all the questions in order to proceed
  10. Review and Submit
    • Once you confirm the details, click Submit to create the service request ticket.

Please note: Once you submit the request, the ticket will be created and the client will be automatically sent the paperwork by DocuSign. The ticket cannot progress further until the client reviews the paperwork and electronically signs through DocuSign.

After Submitting the Request

A new service request ticket will be created. You can locate it:

  • In the Right-Side Panel of the client's CRM Contact Record under Tickets.
  • In the Account Administration Pipeline, where you can track the progress and confirm when the request is completed.

Processing Times

  • Typically 3-4 business days after the ticket has been submitted and completed any applicable review. 

Important: After the ticket is completed and approved by the team, you will need to submit a new Withdrawal ticket under the Cash and Securities tab to finalize the withdrawal process.