The RESP SIR Registration Rejection Report identifies clients whose Social Insurance Registration (SIR) verification process for their Registered Education Savings Plan (RESP) has been rejected. Monitoring this report allows you to take timely action to resolve SIR issues and ensure your clients’ RESP accounts are fully registered and eligible for government grants such as the Canada Education Savings Grant (CESG).
What is RESP SIR Registration ?
The RESP SIR (Social Insurance Registration) process verifies the beneficiary’s Social Insurance Number (SIN) against the Social Insurance Registry database. This verification step is a requirement to complete the RESP registration process and to confirm a beneficiary’s eligibility for government grants and bonds, such as the CESG or Canada Learning Bond (CLB).
Why Clients Appear on this Report
Clients appear on the RESP SIR Registration Rejection Report when the SIN verification with the Social Insurance Registry fails. Rejections typically result from mismatched or incorrect beneficiary details, such as a misspelled name, an invalid or missing SIN, or discrepancies between the submitted details and government records.
How this Impacts Clients
If SIR verification fails, the client’s RESP remains unregistered and ineligible for government grants or contributions. This prevents both RESP contributions from being allocated and grants (such as the CESG) from being processed. Delays in resolving SIR issues could result in missed grant opportunities and limit the client’s education savings growth.
How to Access the RESP SIR Registration Rejection Report
To access the RESP SIR Registration 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 SIR Registration Rejection Report from the dropdown.
You will now see a filtered list of all clients whose RESP SIR registrations have been rejected.
Best Practices
- Regularly review the RESP SIR Registration Rejection Report to catch issues early.
- Engage with clients promptly to resolve discrepancies and ensure correct information is submitted.
- Validate beneficiary information (SIN, full legal name, date of birth) with clients prior to submission to reduce rejection rates.