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Who can be added as a beneficiary to my TD Direct Investing RESP account?
When evaluating beneficiaries you want to add, first we need to determine your relationship to the person you are adding to the plan. All TD Direct Investing RESP accounts are Family Plans, and thus there are certain limitations or guidelines as to acceptable subscriber-beneficiary relationships. They are:
- Parent to Child
- Legal Guardian to Child
- Grandparent to Grandchild
- Grandparent to Multiple Grandchildren
A beneficiary can be added to an RESP if it meets the acceptable subscriber-beneficiary relationship. A CESG form is required to add the beneficiary, along with the Schedule A. Forms can be completed and provided to TD Direct Investing.
Please note: A Beneficiary age 21 or over cannot be added to an RESP. The only exception would be if they are an existing beneficiary on another RESP that is being transferred into the existing TD Direct Investing RESP or New TD Direct Investing RESP.
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.