How to Open a Registered Disability Savings Plan in Canada

Who can open an RDSP in Canada?

A Registered Disability Savings Plan is a long-term savings plan for a person who has been approved for the Disability Tax Credit (DTC). The person who will ultimately benefit from the money is called the beneficiary, while the person or organization that opens and manages the plan is called the holder.

To open an RDSP, the beneficiary must meet all of these federal requirements:

• be approved for the DTC through the Canada Revenue Agency;
• have a valid Social Insurance Number;
• be resident in Canada when the plan is opened; and
• open the plan before the end of the year in which they turn 59.

A beneficiary can have only one RDSP at a time.

You need Disability Tax Credit approval first

DTC approval is a core eligibility condition for a new RDSP. The financial institution cannot simply open an RDSP because a person has a disability, diagnosis or medical condition; the beneficiary must meet the federal DTC requirement.

If the beneficiary has not yet been approved, deal with the DTC first. Once approval is confirmed, the RDSP can be opened if the other age, residence and SIN conditions are met.

Who is allowed to open and manage the RDSP?

The correct holder depends mainly on the beneficiary's age and ability to enter into a contract.

If the beneficiary is under the age of majority

A qualifying person or organization can open the RDSP and become the holder. This may include:

• a legal parent;
• a guardian, tutor or another person legally authorized to act for the beneficiary; or
• a public department, agency or institution legally authorized to act for the beneficiary.

The age of majority is 18 or 19 depending on the province or territory.

If the adult beneficiary can open the plan themselves

If an adult beneficiary is contractually competent and does not need a legal representative, the beneficiary normally becomes the holder and opens the RDSP for themselves.

If the adult beneficiary cannot open the plan themselves

If an adult beneficiary cannot establish the plan because of concerns about their ability to enter into a contract, a legally authorized representative may act as holder. Where there is no legal representative, current federal rules also allow certain qualifying family members to open the plan in specified circumstances. These family members can include a spouse, common-law partner, parent or adult sibling.

Where do you open an RDSP?

You do not open an RDSP directly with the CRA or through a single Government of Canada application website. Instead, you open the plan with a participating financial organization.

Government of Canada guidance lists banks, investment firms, trust companies and other providers that offer RDSPs. Examples on the current federal list include major banks and investment organizations, but the list can change.

You do not need to already have an account with the financial institution you choose. Contact the provider and ask specifically whether it offers Registered Disability Savings Plans and whether it can submit applications for the federal grant and bond.

Can you open an RDSP online?

There is no universal federal online application that opens the RDSP itself. The account is established directly with a participating financial institution, and each provider determines whether its own account-opening process is completed online, by telephone, in person or using a combination of methods.

For that reason, the practical first step after checking eligibility is to choose an RDSP provider and follow that institution's current account-opening process.

What information will you need to open the plan?

The exact account-opening documents are set by the participating financial institution, but federal eligibility requires the beneficiary's DTC approval, Canadian residence and valid SIN. The holder must also meet the applicable holder rules, and an individual holder must have a valid SIN.

The institution may ask for identity documents and information needed to satisfy financial-account and legal-representation requirements. If someone is opening the plan for another person, documents proving that person's authority may also be required.

Because providers have their own account-opening requirements, confirm the exact document checklist with the institution before the appointment or application.

Apply for the grant and bond when you open the RDSP

When establishing the plan, ask the financial institution to apply for the Canada Disability Savings Grant and Canada Disability Savings Bond.

These are separate federal incentives paid into an eligible RDSP. They are not automatic merely because an account exists; the required grant and bond application must be made.

Grant and bond entitlement ends after December 31 of the year the beneficiary turns 49. A beneficiary aged 50 through 59 can still open and contribute to an RDSP but cannot receive new grants or bonds.

How much Canada Disability Savings Grant can you receive?

The Canada Disability Savings Grant matches eligible private contributions. The regular annual grant can be as high as $3,500, with a $70,000 lifetime limit.

For the 2026 calendar year, the grant matching rules use family income reported for 2024.

If the relevant 2026 family income is $117,045 or less:

• the first $500 contributed can be matched at $3 for every $1 contributed, producing up to $1,500; and
• the next $1,000 contributed can be matched at $2 for every $1 contributed, producing up to another $2,000.

That means a $1,500 contribution can generate the regular maximum grant of $3,500 when the beneficiary qualifies for those matching rates.

If 2026 family income is above $117,045, the matching rate is generally $1 for each $1 contributed on the first $1,000, for a regular annual maximum grant of $1,000.

The federal income threshold is indexed and can change each year, so the 2026 figures should not be reused automatically for later years.

You may receive an RDSP bond without contributing any money

The Canada Disability Savings Bond is designed for beneficiaries with low or modest family income. No personal contribution is required to receive the bond.

For 2026, using family income reported for 2024:

• income of $38,237 or less can qualify for the full $1,000 annual bond;
• income between $38,237 and $58,523 can qualify for part of the $1,000; and
• income of $58,523 or more does not qualify for a 2026 bond.

The regular maximum is $1,000 per year, with a $20,000 lifetime limit.

Whose income determines your grant and bond?

The income calculation depends on the beneficiary's age.

Until December 31 of the year the beneficiary turns 18, grant and bond amounts are generally calculated using the combined family income of the beneficiary's parents or guardians reported on tax returns.

Starting in the year the beneficiary turns 19, the calculation uses the beneficiary's own income plus the income of their spouse or common-law partner, if applicable.

For the correct grant and bond entitlement to be calculated, required income tax returns must be filed. An adult beneficiary generally needs tax information for at least the previous two years and must continue filing returns. Federal guidance also says beneficiaries should begin filing personal income tax returns starting in the year they turn 17 so the correct amounts can be determined when they reach 19.

You may be able to catch up on grants and bonds from earlier years

Opening an RDSP later does not necessarily mean losing all previous government incentives. If the beneficiary was DTC-approved and otherwise eligible in earlier years, unused grant and bond entitlements from up to the previous 10 years may be carried forward.

Carry-forward can result in much larger payments than the regular annual amount. The federal government states that the maximum grant paid in one year with carry-forward is $10,500.

For bonds, an eligible person opening a plan can receive up to $11,000 in one year from prior-year and current-year bond entitlements, subject to eligibility for those years. No contribution is required to receive eligible carry-forward bond amounts.

Carry-forward rules are time-sensitive because grant and bond payments still end after the year the beneficiary turns 49.

RDSP contribution limits

There is no annual contribution limit for an RDSP, but total private contributions cannot exceed the $200,000 lifetime contribution limit.

Contributing more does not necessarily produce a larger government grant. Once the contribution needed to attract the available grant has been made, additional contributions for that period are not matched.

Anyone may contribute to the RDSP if they have the written permission of the plan holder, subject to the lifetime contribution limit and the financial institution's procedures.

When will the government grant be deposited?

For an eligible contribution, the Government of Canada states that the matching grant is generally deposited in the RDSP within 6 to 8 weeks.

There is no single official processing time for establishing the RDSP itself because the account is opened and administered by a participating financial institution. Account-opening times therefore depend on the provider and whether additional documentation is required.

Use your annual Statement of Entitlement to plan contributions

Up to and including the year the beneficiary turns 49, RDSP holders receive a Statement of Entitlement each February. It identifies how much grant may be available for that year and how much should be contributed to receive it, including eligible carry-forward amounts.

This is particularly useful before making a large contribution because the amount needed to maximize available grants may be different when unused prior-year entitlement exists.

What if the beneficiary later loses DTC approval?

DTC approval is required to open a new RDSP, but federal rules allow an existing RDSP to remain open in certain circumstances if the beneficiary later loses DTC eligibility. Restrictions can apply to contributions, grants, bonds and withdrawals while the beneficiary is not DTC-approved.

Do not automatically close an RDSP solely because DTC approval ends. Ask the financial institution to apply the current federal rules to the existing plan before taking action.

The key RDSP limits at a glance

• End of year age 59: normal deadline to open a new RDSP.
• End of year age 49: last year new grants and bonds can be paid.
• $200,000: lifetime private contribution limit.
• $70,000: lifetime Canada Disability Savings Grant limit.
• $20,000: lifetime Canada Disability Savings Bond limit.
• Up to 10 previous years: potential carry-forward period for unused eligible grants and bonds.

Common mistakes when opening an RDSP

• Trying to open the plan before the beneficiary has been approved for the Disability Tax Credit.
• Assuming a disability diagnosis by itself creates RDSP eligibility.
• Waiting until after December 31 of the year the beneficiary turns 59 to try to open a new plan.
• Opening an account but failing to apply for the federal grant and bond.
• Assuming you must contribute money to receive the Canada Disability Savings Bond.
• Not filing the income tax returns needed for grant and bond calculations.
• Ignoring unused grant or bond entitlement from earlier DTC-approved years.
• Contributing a large amount without first checking how much contribution is actually needed to attract the available grant.
• Assuming every bank or investment account provider offers RDSPs.
• Assuming opening an RDSP through a financial institution automatically means all account, investment or administration services are free.

What to do after the RDSP is opened

Once the plan is active, confirm that the grant and bond applications have been submitted and review the available government entitlement before deciding how much to contribute.

If the beneficiary also qualifies for other disability-related supports, the RDSP is separate from those programs. For example, families with a DTC-approved child may also want to understand the separate Child Disability Benefit. A person whose disability prevents them from working regularly may also need to consider the distinct eligibility rules for Canada Pension Plan disability benefits.