Is Your Child 14?
Contributions made for beneficiaries in the year they turn 16 or 17 will only receive a Canada Education Savings Grant if either:
- A minimum of $2,000 of contributions has been made to an RESP by the end of the year in which the child turns 15; or
- A minimum of $100 in annual contributions were made in any four years by the end of the year which the child turns 15.
Is Your Child 16 Going on 17?
CESGs (Canada Education Savings Grants) are available up to and including the year in which a beneficiary turns 17.
When it’s time to withdraw from your RESP
When the beneficiary is ready to begin post-secondary education, and you want to withdraw funds from the RESP, here is what to do:
- Contact our office and we will send out the forms for you to complete and sign.
- You will need a valid proof of enrollment such as a letter from the office of the registrar stating full-time enrollment in a qualified educational program.
- You do not need to provide receipts of expenses.