InfoCapsule 9: Contributions and rollovers

From: Employment and Social Development Canada

Disclaimer: RDSP issuers

The information contained on this page is technical in nature and is intended for Registered Disability Savings Plan (RDSP), Canada Disability Savings Grant (CDSG) and Canada Disability Savings Bond (CDSB) issuers. For general information, visit the RDSP section.

Consult this page frequently for newer versions. The following laws and regulations take precedence over information contained in InfoCapsules in the event of discrepancies:

  • Income Tax Act
  • Canada Disability Savings Act
  • Canada Disability Savings Regulations

Alternate formats

Contributions

Definition: Amounts deposited into a Registered Disability Savings Plan (RDSP) by the plan holder(s), or by anyone with the written authorization of the holder(s).
Characteristics:

Rollovers

Definition: Moving funds from a qualified retirement or education savings product into an RDSP.
Characteristics:

Conditions specific to an education savings rollover

The relinquishing Registered Education Savings Plan (RESP) must allow accumulated income payments and one of the following 3 conditions must be met:

  1. The beneficiary has a severe and prolonged mental impairment that can reasonably be expected to prevent them from pursuing post-secondary education
  2. The RESP account has been in existence for at least 10 years and each RESP beneficiary is at least 21years old and not eligible to receive an educational assistance payment
  3. The RESP has been in existence for more than 35 years (or 40 years in the case of a specified plan)

Note: Education savings rollover is not permitted during a DTC election period and in a Specified Disability Savings Plan (SDSP).

The following proceeds can be rolled over into an RDSP

Note: Must use the information prescribed on the CRA rollover form number RC435.

Conditions specific to a retirement savings rollover

The following condition must be met:

Note: Retirement savings rollover is permitted during a DTC election period and in an SDSP.

Eligible proceeds can be rolled over into an RDSP from:

Note: Must use the information prescribed on the CRA rollover form number RC4625.

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