How can we help you?
We matched that to:
What happens if the beneficiary decides not to pursue a post-secondary education or I need to withdraw the money?
You have a number of options, including -
•transfer the RESP assets to another eligible beneficiary
•withdraw the funds for yourself (you must repay the government grants and pay taxes and a surcharge on investment income you withdraw)
•transfer up to $50,000 of the investment income to the subscriber's regular or spousal Retirement Savings Plan (RSP)if there is enough contribution room
•donate the investment income to a Canadian educational institution
Conditions apply to all of these options, so please ask us for details.
Please note that the answers to the questions are for information purposes only for the products discussed. Individual circumstances may vary. In case of discrepancy, the documentation prevails.