Register a disability savings plan - Who can be a beneficiary

2. Who can be a beneficiary

A person can be a beneficiary of a registered disability savings plan (RDSP) if they:

• are resident in Canada for tax purposes
• have a valid social insurance number
• are eligible for the disability tax credit

An RDSP can only have one beneficiary which will stay the same throughout the RDSP’s lifetime.  A beneficiary can only have one RDSP at a given time. An exception applies when a second plan is opened in order to transfer all of the funds from the beneficiary’s RDSP to another for the same beneficiary. Once the transfer is complete, the first RDSP must be closed.