RESP

TRANSFERRING AN RESP

Conditions to be met:

  • Both the transferring and receiving plans have a common beneficiary OR a beneficiary in the receiving plan is under 21 years of age and is a sibling of the beneficiary in the transferring plan. The receiving RESP Promoter must be a participating promoter of the incentive being transferred;
  • Transfer of Additional Grant, Canada Learning Bond and Alberta Grant can happen only within Sibling-only plans.
  • Canada Learning Bond cannot be transferred to other beneficiaries

Form required: HRSDC SDE 0050

Steps Required:
  • Complete and sign Section A of form HRSDC SDE 0050
    • Area I – Subscriber Information
    • Area II – Beneficiary Information
    • Area III – Subscriber Authorization and Instructions to Transfer
  • Indicate the Sending promoter name and address in Section C of the form – page 2.
  • Send the completed transfer form to the Receiving promoter. The Receiving Promoter will complete Section B of the form and forward it to the Sending promoter to facilitate the transfer