To open your RESP account and obtain the free Canada Learning Bond (CLB) money for your child’s future education, you must meet with your RESP provider, discuss which RESP is right for you, and ask them to sign you up for the CLB. An RESP provider can be a bank, credit union, insurance company or scholarship trust.

Don’t forget, at most major banks you can choose a no-fee RESP savings account that does not require any of your own money to be added. See below for a list of providers.

When meeting with the provider to sign up for your child’s RESP, make sure you have the following:

• Government issued ID for yourself (this might be a passport, driver’s license, etc.)
• Your SIN
• Your child’s SIN
• Your child’s Birth Certificate
• If necessary, the primary care giver and/or your spouse
• Questions to ask the provider. Click here for example questions you might want to ask.

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What will the appointment be like?

At your appointment, the account manager or financial advisor will tell you about the investment options and ask you a few questions. Their goal is to find the best plan for you and your child.

They will also ask you a few questions that might feel personal, like your marital status, but they are trying to help you choose the best account for your family. They will ask you questions to find out:

• Who will be adding money into the account and how regularly?
• What year will your child need to withdraw the money?
• How much do you know about investments and what is your risk tolerance?

Remember, to receive the free Government money from the CLB, you DO NOT have to contribute and you can choose an RESP with no fees.

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What do I do after the appointment?

• Keep a copy of the signed documents.
• Add your savings to the account if and when you want to.
• File your taxes every year to continue receiving the free CLB money
• Help your child use the money for their future education when they're ready

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