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Can a RESP account with the grandparents as subscribers be transferred to a RESP account with the parents as the subscribers for the same beneficiaries?

April 26, 2017account beneficiaries grandparents Parents RESP subscribers transferred

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Can a RESP account with the grandparents as subscribers be transferred to a RESP account with the parents as the subscribers for the same beneficiaries?

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Yes. MFC will have to obtain a Letter of Direction signed by current account subscribers requesting such transfer and all documents necessary to open a new account as well (RESP Application form and HRSDC Grant Application form(s).