What are the conditions for a change of subscriber?
The Income Tax Act stipulates that it is possible to change the subscriber of an RESP in one or other of the following cases: – In the event of the subscriber’s death; – A separation or divorce: an individual who has acquired a subscribers rights under the Plan pursuant to the decree, order or judgment of a competent tribunal, or under a written agreement, relating to a division of property between the individual and an RESP subscriber in settlement of rights arising out of, or on the breakdown of, their marriage or common-law partnership.
