Contribution Withdrawal / Maturity Application

Accessing Net Contributions

As your student plans the next step after high school, you will begin to make decisions on when and how you would like to receive payments from your RESP. Once your student has proof of enrolment in a qualified post-secondary program, you can take that first step by requesting net contributions from your plan. How you do this depends on the type of plan you have: Flex First or Family Single Student Plan; Heritage Plans.


Flex First Plan or Family Single Student Plan

With an individual RESP, like the Flex First Plan or Family Single Student Plan, you have the flexibility to withdraw what your child needs, when it’s needed, or keep you plan intact for up to 35 years. It’s simple and easy to request a withdrawal of your contributions .

Loyalty Bonus for Flex First: When you request a refund of your net contributions, you will also choose how much of the loyalty bonus will be returned to you or your student.

Heritage Plans

With the Heritage Plans, you will choose between the Self-Determined Option or Scholarship Option within 180 days of the maturity date, but no later than the maturity date. The Self-Determined Option can be a good choice if your student is pursuing a program of study that is less than 2 years. The Scholarship Option provides three payments options and is typically for students who plan to attend a two to four-year post-secondary program.

For more information about withdrawing funds from your Heritage Plans at maturity, click here.

Proof of Enrolment

The government of Canada wants to ensure that students enrolled in an RESP are using their funds towards the cost of post-secondary studies. According to the Income Tax Act, proof of enrolment in a qualifying program is required to maintain the government grants in your plan.  We require verification of enrollment when you are making a post-secondary education (PSE) withdrawal from your RESP which you can easily download from your school’s website or obtain from your school’s Registrar’s office.  If one if not available, you can complete the Verification of Enrollment section on the maturity application form and affix your Registrar’s seal/stamp on it prior to submission.


Program Eligibility

To take advantage of the government grants in your RESP, your student must be enrolled in a qualifying program when funds are withdrawn.

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Education Assistance Payments

As a customer, you can request your PSE withdrawal or EAP online. Login to our secure site to request your withdrawal today!


Forms & Resources

  • Educational Withdrawal Form

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  • RESP Educational Withdrawal – Instructions and FAQ

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We’re here to help

If you have any questions about withdrawing funds from your RESP from Knowledge First Financial, please contact our Customer Service team.

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