Catch up on missed contributions from previous years.
Eligibility Requirements to Receive CESG
The child you are saving for must be a Canadian resident and have a valid Social Insurance Number (SIN).
An eligible beneficiary qualifies for Basic CESG up to December 31 of the year in which they turn 17. If your beneficiary is 16 or 17, they qualify for Basic CESG if:
Eligibility to receive Additional CESG payments to your RESP is based on the following Net Family Income amounts:
Additional CESG rate is 20% when the adjusted family net income is:
Additional CESG rate is 10% when the adjusted family net income is more than:
|2017||$45,916 or less||Greater than $45,916 but not more than $91,831|
|2016||$45,282 or less||Greater than $45,282 but not more than $90,563|
Just make a qualified Education Assistance Payment (EAP) withdrawal and you will receive your CESG plus any income the grant has generated as part of the withdrawal.
Your RESP can stay open for 35 years. If the child you've been saving for decides not to attend school, your contributions are returned to you and the CESG can be used towards an eligible sibling's education or returned to the Government of Canada.