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Disabled man in wheelchair by bus. (Photos.com)
Disabled man in wheelchair by bus. (Photos.com)

Getting money out of an RDSP

If the beneficiary dies Add to ...

If the beneficiary dies, their estate must close the RDSP.

Closing the RDSP

The RDSP must close by December 31 following the calendar year in which the beneficiary dies. Here's what happens to the funds:

Tax consequences

The estate may have to pay tax on the portion of the funds that comes from investment earnings and any government grants or bonds held in the RDSP for 10 years or more.

Content in this section is provided in partnership with Investor Education Fund, a non-profit organization founded and supported by the Ontario Securities Commission that provides unbiased and independent financial tools to help Canadians make better money decisions. To find out more, go to: GetSmarterAboutMoney.ca

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