Canada Learning Bond for those under 18 years old – After applying

4. After applying

An RESP can stay open until the end of its 35th year. The funds must be used and the RESP must be terminated on or before the 35th year of the plan. Specified plans can stay open up to 40 years.

If a child does not continue their education after high school and the RESP is closed:

  • any amount contributed to the RESP goes back to the subscriber
  • the CLB and the Canada Education Savings Grant go back to the Government of Canada

Accumulated interest earned in the RESP can be:

Ask your RESP promoter for more information.

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