How to Change Your RESP Beneficiary
You can change the beneficiary of your RESP any time before your plan matures and any number of times during the life of your plan.
The most common reason for changing is that the original beneficiary does not plan to enroll in a post-secondary program, but it’s good to know that this option is also available in the event of death or disability.
The new beneficiary must have a Social Insurance Number (SIN) and be a Canadian resident. Bear in mind that total RESP contributions are limited to $50,000 per beneficiary.
If you have a Family Group Plan and your new beneficiary isn’t the same age as the original, you can change the maturity date of your plan. You may also need to change the amount and number of contributions or make an income adjustment.