to the RESP can be matched by the federal government through the Canada Education Savings Grant (CESG). This grant matches 20% of your contributions up to $2,500 each year. An RESP can remain open for a maximum
The lifetime RESP contribution limit is $50,000 per child, and you can make contributions for 31 years once you’ve opened the RESP. The lifetime grant maximum for a CESG is $7,200 per child. Planning for your child’s education journey (PDF, 2.2 MB) Opens in a new window.More det...
Learn what an RESP is and what are the rules and contribution limits to fund your children’s education using RESP. Contact BMO to know more about RESP.
$50,000 Maximum lifetime RESP contribution limit per beneficiary 32 Number of years you can contribute to an RESP 35 How many years an RESP can remain open Why Choose a Self-Directed RESP at RBC Direct Investing? Hold a Range of Investments in Two Types of RESPs ...
There is a lifetime contribution limit of $50,000 that you can contribute to an RESP for up to 31 years. The plan can remain open for a maximum of 35 years. Is this Registered Plan right for you? Right for you if you: Need an account to save on a tax deferred basis for a chi...
The lifetime contribution limit per child is $50,000, but there is no annual contribution limit. You have 31 years to contribute to an RESP, and the plan can remain open for a maximum of 35 years. Is there a penalty for over-contributing to an RESP?
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3. Save up to the Maximum Contribution Limit The maximum lifetime contribution limit of RESPs is CA$50,000 per beneficiary. While you need only CA$36,000 to get the maximum CESG of $7,200, you can save up to the $50,000 limit to maximize tax-benefits and the compounding growth of...
The lifetime contribution limit per child is $50,000, but there is no annual contribution limit. You have 31 years to contribute to an RESP, and the plan can remain open for a maximum of 35 years. Is there a penalty for over-contributing to an RESP? If you over contribute to an RES...
The CESG is a maximum of $7,200 per beneficiary among all plans for the same beneficiary. There are instances where the government may not contribute up to $7200, such as the lump sum contribution. 2 Proof of enrolment/verification of enrolment would be signed or certified by the Institution...