Canada Disability Savings Regulations (SOR/2008-186)

• 6 (1) An issuer of an RDSP shall repay to the Minister, within the period set out in the issuer agreement, any portion of an amount paid into the RDSP as a grant or bond to which there was no entitlement under the Act or these Regulations.

• (2) A beneficiary of an RDSP shall repay to the Minister any portion of a disability assistance payment attributable to a grant payment or bond payment to which the beneficiary was not entitled under the Act or these Regulations.

7 For the purposes of calculating an amount to be repaid under these Regulations with respect to amounts that are transferred from a prior RDSP to a new RDSP in accordance with subsection 146.4(8) of the Income Tax Act, all amounts of bonds, grants and contributions transferred are considered to have been paid into or made to the new RDSP as of the day on which the amounts were paid into or made to the prior RDSP.

Waiver — Undue Hardship

8 For the purposes of section 11 of the Act, the Minister may waive the requirement in subparagraph 6(2)(a)(i) or 7(2)(a)(i) or (b)(i) of the Act that the individual be at least 18 years of age on December 31 of the year preceding the particular year if the beneficiary is not a qualified dependant of an eligible individual.

Authorized Collection of Information

9 For the purposes of section 15 of the Act, the following are prescribed information:

• (a) the beneficiary’s name, address, date of birth, social insurance number and, if applicable, date of death;

• (b) if the holder is an individual, the holder’s name, address and social insurance number;

• (c) if the holder is a department, agency or institution that maintains the beneficiary, its business name, business number and address;

• (d) the name and address of the issuer;

• (e) in relation to any specific RDSP, the number assigned to the corresponding plan in respect of which written notification was given by the Minister of National Revenue in accordance with paragraph 146.4(2)(a) of the Income Tax Act;

• (f) the number assigned to the disability savings plan entered into between the issuer and the holder;

• (g) the day on which the disability savings plan between the issuer and the holder was entered into;

• (h) the day on which the disability savings plan entered into between the issuer and the holder ends;

• (i) the date and amount of contributions paid into the RDSP;

• (j) the total amount of contributions paid into the RDSP;

• (k) the amount of total earnings in the RDSP;

• (l) if there is a transfer of amounts from a prior RDSP to a new RDSP,

  • (i) the amounts transferred as well as the book value and fair market value of those amounts,

  • (ii) the transfer date,

  • (iii) the name and address of the new issuer,

  • (iv) with respect to both the prior RDSP and new RDSP, the number assigned to the corresponding plan in respect of which written notification was given by the Minister of National Revenue in accordance with paragraph 146.4(2)(a) of the Income Tax Act, and

  • (v) with respect to both the prior RDSP and new RDSP, the number assigned to the disability savings plan entered into between the issuer and the holder;

• (m) if there is a new holder of an RDSP after the RDSP is entered into, the new holder’s name, address and social insurance number or business number, as the case may be, and the day on which they became the new holder of the RDSP;

• (n) the disability assistance payments made, indicating the taxable and non-taxable portions of the payments and the date of each payment made;

• (o) the fair market value of the RDSP;

• (p) if a contribution is withdrawn subsequent to a waiver granted by the Minister of National Revenue in accordance with paragraph 146.4(12)(c) of the Income Tax Act, the amount and date of the contribution withdrawn; and

• (q) whether or not a beneficiary is a DTC-eligible individual.

Coming into Force

Footnote ^*10 These Regulations come into force on the day on which section 136 of the Budget and Economic Statement Implementation Act, 2007, chapter 35 of the Statutes of Canada 2007, comes into force.

• Return to footnote ^*[Note: Regulations in force December 1, 2008, see SI/2008-63.]