Registered Education Savings Plan (RESP)
The Registered Education Savings Plan (RESP) allows savings for education to grow tax free in a special savings plan registered by the Government of Canada until a child named in the RESP enrols in a post-secondary education program.
Delivered by: Human Resources and Social Development Canada (HRSDC)
Eligibility Information
Applicants must meet the following criteria:
- have a birth certificate for their child(ren)
- have a Social Insurance Number (SIN)
- have a SIN for anyone named in the RESP as a beneficiary
- other criteria may apply
Application Information
- Information on RESP application procedures is available from most financial institutions.
Related Information
- For each beneficiary, the annual limit for contributions to all RESPs is $4,000 and the lifetime limit is $42,000.
