Registered Education Savings Plans (RESPs)
A registered education savings plan (RESP) is a contract between an individual (the subscriber) and a person or organization (the promoter).
Under the contract, the subscriber names one or more beneficiaries (the future student(s)) and agrees to make contributions for them, and the promoter agrees to pay educational assistance payments (EAPs) to the beneficiaries.
Family plans are the only RESP that allow subscribers to name more than one beneficiary. Each beneficiary must be connected by blood relationship or adoption to each living subscriber or have been so tied to a deceased original subscriber.
Services and information
- How an RESP works
How a subscriber makes contributions, how a promotor pays the contributions, how beneficiaries receive contributions.
- Who can be a subscriber
Restrictions on who can be the original subscriber under an RESP if you are not the original subscriber.
- RESP contributions
Rules, limits, tax on excess contributions and examples, waiver of liability.
- Who can become a beneficiary
Designating a beneficiary, changing the beneficiary.
- Canada Education Savings Programs (CESP)
Canada Education Savings Grant, Canada Learning Bond.
- Provincial Education Savings Programs
Quebec Education Savings Incentive, Saskatchewan Advantage Grant for Education Savings Program, BC Training and Education Savings Program.
- Payments from an RESP
EAP, AIP, refund of contributions, payments to a designated educational institution, repayments of grants and bonds, payments to a trust.
- Anti-avoidance rules for RESPs
Special tax on certain advantages, prohibited investments, non-qualified investments.
Forms and publications
Report a problem or mistake on this page
- Date modified: