RESPs

Glossary

Here are some terms you might come across when you're looking into RESPs. If you have additional questions about RESPs, please don't hesitate to call us at 1-800-281-8029, or visit any TD Canada Trust branch.

Beneficiary: This is the person who has been designated to receive the benefit of the RESP. It is important to note that to receive the CESG, the beneficiary must be a resident of Canada and must have a Social Insurance Number.

Contributions: This is the money that is deposited into the RESP by the subscriber.

Joint Subscriber: This person is a co-contributor to an RESP set up by a subscriber. To be a joint subscriber, this individual must be the spouse or common-law partner of the subscriber.

National Child Benefit Supplement (NCBS): A component of the Canada Child Tax Benefit (CCTB) which is administered by the Canada Revenue Agency (CRA). Under this government initiative, the NCBS provides support to low-income families with children.

Subscriber: This is the person who opens and contributes to an RESP for a beneficiary.