Registered Education Savings Plan
A registered education savings plan (RESP) is a contract between an individual (the subscriber), the Minister designated for the purposes of the Canada Education Savings Act, and a person (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 a Registered Education Savings Plans 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. - Registered education savings plans contributions
Rules, limits, tax on excess contributions and examples, waiver of liability. - Designating a beneficiary
Designating a beneficiary, changing the beneficiary. - Canada Education Savings Programs
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. - Registered Education Savings Plans payments, transferring and rolling over registered education savings plans property
EAP, AIP, refund of contributions, payments to a designated educational institution, repayments of grants and bonds, payments to a trust. - Anti-avoidance rules for Registered Education Savings Plans
Special tax on certain advantages, prohibited investments, non-qualified investments.