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I want to transfer some of my RRSP to my child’s RESP. Can this be completed without a tax hit?



Our response:

Transferring from a Registered Retirement Savings Plan (RRSP) to a Registered Education Savings Plan (RESP) will typically have tax consequences. It is possible in certain circumstances to transfer from an RESP to an RRSP. Find out more about RRSP transfers and what happens if your child doesn’t continue their education.

Learn more about RESPs.

Speak to a registered financial advisor or tax professional for advice about the options that work best for your investment plan. Canada Revenue Agency also provides information about RRSPs and RESPs.

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