RDSP

Step 3 - Registered Disability Savings Plan

Have you been approved for the Disability Tax Credit?

Here is how you can find out more about the Disability Tax Credit.

You must have the Disability Tax Credit before you can open an RDSP. Go to the Disability Tax Credit (DTC) module to learn how to apply.

FAQs

What happens if I lose eligibility for the Disability Tax Credit?

Many people are only approved for the Disability Tax Credit for a certain number of years. To keep your eligibility, you must re-apply to the Canada Revenue Agency. Applications can take a few months to process, so you should apply at least six months before your Disability Tax Credit is set to expire. You cannot reapply sooner than one year before the expiry date.

Learn more about what steps to take in Losing Disability Tax Credit (DTC) Eligibility - RDSP.

Continue to step 4

Steps

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Resources

There are three ways to file income taxes

You can file your taxes electronically (online) using NETFILE (an electronic tax-filing service that sends your tax return directly to the Canada Revenue Agency.

Questions to ask when deciding which financial institution to choose to open your RDSP.

Is the financial institution convenient for me to reach?

How do I get a Social Insurance Number?

Find your birth certificate, Certificate of Canadian citizenship or permanent residence card. These are called primary documents.

If you are unable to open an RDSP

If you have trouble opening an RDSP, even if you meet all the eligibility criteria, it is usually because your financial institution is missing some information.