Cash and Security Management
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      Contributing to an RESP account

      Learn the ins-and-outs of an RESP account and how to request a contribution

      Contributing to the RESP

      • There is no annual limit to how much you can contribute to the RESP. Over the lifetime of the RESP, the maximum that can be contributed is $50,000 per beneficiary. 
      • Contributions to RESPs are not deductible from the subscriber's income.
      • A plan can only accept a contribution for a beneficiary under the plan if the beneficiary is resident in Canada and the beneficiary's SIN has been provided to the promoter of the plan.

      Tracking RESP contributions

      It's important to track how much you contribute to the RESP, especially if you have more than one RESP account. Make sure you don't over-contribute. You should also track how much CESG you receive to make sure you don't go over the CESG lifetime limit.

      How to Submit the Request

      Search for client contact in the HubSpot Search bar, open the client contact card, and find the client’s CRM Contact record page.

      From the client's contact record, start by navigating into the Servicing (Service Request) tab, which is found in the middle panel of the contact record.

      Then click on Cash and Security Management.

      Step 1:

      • Select Add Funds

      Step 2:
      • Select the contribution type
        • EFT-In
        • Contribute from Investment Account
        • Initiate a transfer


      Step 3:

      • Select the RESP

      Based on the Request type selected in step 2, the next steps will vary. 

      Initiate a transfer

      Step 4:

      EFT-IN

      Step 4:

      • Select the Bank account you would like to EFT-In from


      Step 5:

      • Select the Beneficiary from the drop-down menu
        • You may select more than one Beneficiary
        • If more than one Beneficiary is selected, you can specify the % allocation. 
      • Enter the Amount
      • Submit the request

      Contribute from Investment Account

      Step 4:

      • Select the Account that will be contributing the funds

      Step 5:

      • Specify the Amount type
        • Full or Partial
      • Specify the source of funds
        • Model Or All

      Step 6:

      • Select the Beneficiary from the drop-down menu
        • You may select more than one Beneficiary
        • If more than one Beneficiary is selected, you can specify the % allocation. 
      • Enter the Amount
      • Submit the request