Is it possible to open an RESP for myself today and when I have children, transfer the balance to my children's RESP account to receive annual CESG payments?

  • You can if you are under 17 years old. Anybody can open RESP except corporations/organizations/... but to receive CESG, there are strict rules.
    – vimdude
    Feb 14, 2015 at 2:10

1 Answer 1


Absolutely no.

A RESP can be opened only by a older parent. The RESP has to be opened before the child turns 16 years old not 17 years old. Check this link: http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/resp-reee/menu-eng.html

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