At What Age Do Resp Grants Stop?
You Can Contribute to an Resp for up to 31 Year's, and the Plan Can Remain Open for a Maximum of 35 Year's. Under the Cesg, the Government Matches 20% on the...
You can contribute to an RESP for up to 31 years, and the plan can remain open for a maximum of 35 years. Under the CESG, the government matches 20% on the first $2,500 contributed annually to an RESP, to a maximum of $500 per beneficiary per year. The lifetime maximum per beneficiary is $7,200, up to age 18.
At what age do RESP contributions stop?
Age 31 rule
In a single RESP, contributions must stop 31 years after the establishment of the plan.
Can you catch up on RESP grants?
Making up for missed years
Each year, your beneficiary(s) can earn the maximum $500 grant when you contribute $2,500 per beneficiary in your RESP. However, if you missed a year or two in contributions, you can make up for unused CESG one year at a time.
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