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Canada Revenue Agency Releases FAQs on Registered Disability Savings Plans

The Canada Revenue Agency has released a list of frequently asked questions (FAQs) on Registered Disability Savings Plans (RDSPs). An RDSP is a trust arrangement between a holder and an issuer (a trust company in Canada) designed to provide for the long-term financial security of a beneficiary who has a prolonged and severe physical or mental impairment. The beneficiary named under an RDSP must be eligible to receive the disability tax credit. The FAQs address who can issue, open, contribute to and benefit from RDSPs as well as what makes an RDSP registered.

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