Eligibility and contributions
Who can become a beneficiary of an RDSP?
You can designate an individual as beneficiary if the individual:
- is eligible for the disability tax credit (DTC);
- has a valid social insurance number (SIN);
- is a resident in Canada when the plan is entered into; and
- is under the age of 60 (a plan can be opened for an individual and contributions can be made to it until the end of the year in which he or she becomes 59 years of age).The age limit does not apply when a beneficiary’s RDSP is opened as a result of a transfer from the beneficiary’s former RDSP.
A beneficiary can only have one RDSP at any given time, although this RDSP can have several plan holders throughout its existence and more than one plan holder at any given time.
A person is eligible for the DTC only if a medical practitioner certifies on Form T2201, Disability Tax Credit Certificate, that this person has a severe and prolonged impairment in physical or mental functions. This form must also be approved by the CRA and the person must be deemed to be eligible for the DTC. To get Form T2201, go to Disability tax credit or call 1-800-959-8281.
The holder does not have to be a resident of Canada. However, the beneficiary must be a resident of Canada when the plan is opened and when each contribution is made to the plan. RDSP payments can only be made to the beneficiary (or to the beneficiary’s estate after the beneficiary’s death). Contributors will not be entitled to a refund of their contributions.
Who can contribute to an RDSP?
Anyone can contribute to an RDSP with the written permission of the plan holder. For more information, see Who can open an RDSP?.
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