RESP - Withdrawl
I want to do withdrawals from RESP. I did some withdrawals last year and couple few weeks ago. I want to do another one tomorrow. I am trying to do as much withdrawals as possible from the EAP portion this year. I read there is a clause that you cannot withdraw more than $7200 from the CESG portion in total for each child. But my issue is I don’t know how much CESG portion I have withdrawn when I did withdrawal few weeks ago. Call to TD couple of times didn’t get me an answer even after their back office did some calculations but didn’t give me answer.
This is for family RESP plan. Is this $7,200 CESG limit really exist in family plan? When I review this link https://www.canada.ca/en/employment-soc ... #h2.2-h3.3 it says CESG & BETESG can be shared between siblings. It seems to me from this link that CESG withdrawal can be shared with siblings so even if one child go above $7200 limit, it will be ok but I can’t find same information anywhere else. I think TD will ultimately send me letter how much CESG portion I withdrew when I did last EAP withdrawal few weeks ago but it will be too late for me as I need to do withdrawals tomorrow.
Anybody who have experience can comment.
This is for family RESP plan. Is this $7,200 CESG limit really exist in family plan? When I review this link https://www.canada.ca/en/employment-soc ... #h2.2-h3.3 it says CESG & BETESG can be shared between siblings. It seems to me from this link that CESG withdrawal can be shared with siblings so even if one child go above $7200 limit, it will be ok but I can’t find same information anywhere else. I think TD will ultimately send me letter how much CESG portion I withdrew when I did last EAP withdrawal few weeks ago but it will be too late for me as I need to do withdrawals tomorrow.
Anybody who have experience can comment.