Yes, more than one RESP can be opened for the same child (lucky kid). But, there’s a maximum lifetime RESP contribution limit for any child of $50,000. Beyond that, penalties will be imposed.
In other words, if more than one person has opened an RESP for a child, the subscribers should keep each other in the loop to make sure they collectively keep contributions under the $50,000 cut off.
Introduce your friends to CST Spark!
Whether you love how easy we make it to manage your RESP online or get government grants, let your friends in on the benefits of a CST Spark RESP too.