Investing

Change subscriber name for Family RESP to another person

  • Last Updated:
  • Oct 11th, 2020 8:56 pm
[OP]
Newbie
Apr 6, 2006
45 posts
1 upvote
St. Catharines

Change subscriber name for Family RESP to another person

Hi. I am a grandfather and the subscriber of a Family RESP account for my grandkids. I would like to transfer this RESP account to my son and he then will become the main subscriber which would allow him to distribute the money when his children need it for school. This will make it much easier.
Is there a way to complete this subscriber name change?
2 replies
Newbie
Jun 6, 2017
94 posts
153 upvotes
ffjaydee wrote: Hi. I am a grandfather and the subscriber of a Family RESP account for my grandkids. I would like to transfer this RESP account to my son and he then will become the main subscriber which would allow him to distribute the money when his children need it for school. This will make it much easier.
Is there a way to complete this subscriber name change?
Best to ask the institution you have the RESP but from my understanding you can only do this as a result of death or separation in the case of couples.
https://www.canada.ca/en/revenue-agency ... ps.html#q3
Newbie
Apr 13, 2019
41 posts
55 upvotes
AllanMar wrote: Best to ask the institution you have the RESP but from my understanding you can only do this as a result of death or separation in the case of couples.
https://www.canada.ca/en/revenue-agency ... ps.html#q3
This interpretation is not accurate.
At the link, search down for section 8(d). It explains how the OP’s desired transfer can be accomplished.
(TLDR: Have your son open a new RESP. Make sure the beneficiary is the same for both plans. Once the new account is registered with CRA, you can do the transfer.)

I know this works because I did it.

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