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.

There are two different types of RESP available: family plans and specified plans.

Services and information

• How an RESP works
• Who can be a subscriber?
• RESP contributions
  Rules, limits, tax on excess contributions
• Who can become a 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
• Special Rules
  Changing the beneficiary, how to transfer property from one RESP to another

Forms and publications

• Information Sheet RC4092, Registered Education Savings Plans
• Information Circular IC93-3R2, Registered Education Savings Plans

Date modified:

2016-11-16