If you would like to add a beneficiary to your existing Family RESP, the process is simple. Note that for a Family RESP, all beneficiaries must be siblings and related to you. If you are opening an RESP for the first time, we will automatically ask you for information regarding the beneficiary. You can learn more about that here. 

Steps to add a beneficiary to your existing RESP: 

Please read through the “Important Information“ section below. 

Joint Family RESP: 

1. You co-own this with a spouse or common-law partner. 
2. Click on this link to fill out the document through DocuSign
3. Our Relationship Management team will follow-up within 2-3 business days to confirm that your child has been added to the RESP. 

Individual Family RESP: 

1. You are the only owner of this RESP. You are also the PCG. 
2. Click on this link to fill out the document through DocuSign
3. Our Wealthsimple Support team will follow-up within 2-3 business days to confirm that your child has been added to the RESP. 

For RESPs where the Primary Caregiver is not one of the subscribers (i.e. an account owner): 

1. You are the only owner of this RESP. You are not the PCG. 
2. Click on this link to fill out the document through DocuSign
3. Our Wealthsimple Support team will follow-up within 2-3 business days to confirm that your child has been added to the RESP. 

Important information:

Filling out the form: DocuSign will allow you to fill only the fields required of you. If two parties need to sign (Joint RESP for example), the document is only completed once both parties have signed. 

Primary Caregiver (PCG):  The primary caregiver is the person who receives the Canada Child Tax Benefit (CCTB) - the monthly payment the government makes to families to help with the cost of raising children. You can find out more about who is considered the primary caregiver on the Government of Canada website here.

Custodial Parent/Legal Guardian (CP/LG): Either one or both parents can be listed as CP/LG. This information actually has no effect on the government application. 

Where in the DocuSign do I add the new beneficiary? You can add them on page one, Annex A, or both! Please simply make sure that you enter their correct information.