The RESP Grants Rejection Report lists clients whose Registered Education Savings Plan (RESP) grants, such as the Canada Education Savings Grant (CESG) or other federal and provincial incentives, have been rejected. Monitoring this report ensures you can address grant rejections quickly, helping clients receive the full benefits available to them.
What is an RESP Grant ?
An RESP grant is a government contribution made to a client’s RESP to support post-secondary education savings. The most common grant is the Canada Education Savings Grant (CESG), where the federal government matches 20% of eligible contributions, up to specified limits. Additional provincial grants may also apply depending on the client’s province of residence.
Why Clients Appear on this Report
Clients appear on the RESP Grants Rejection Report when a grant application submitted on their behalf has been declined or returned by the grant provider. Rejections may occur for several reasons, including incomplete or outdated information, missing documentation, ineligible contribution amounts, or incorrect RESP beneficiary details.
How this Impacts Clients
When a grant application is rejected, clients do not receive the expected grant contributions, reducing the growth potential of their RESP accounts. Unresolved rejections could result in clients missing annual grant entitlements, limiting funds available for future education expenses. Timely resolution ensures clients access all available government incentives.
How to Access the RESP Grants Rejection Report
To access the RESP Grants Rejection Report:
- Log in to the CRM portal.
- From the left navigation menu, click CRM > Accounts.
- On the account’s index page, you can access the report as a saved view by clicking +Add view to the right of the tabs on the index page, and selecting RESP Grant Rejection Reports from the dropdown.
You will now see a filtered list of all clients with rejected RESP Grants.
Best Practices
- Review the RESP Grants Rejection Report regularly (monthly or as needed).
- Communicate promptly with clients to gather any missing or corrected information.
- Ensure all RESP forms are complete, accurate, and up to date before submission to avoid rejections.