You must stop contributing to your RESP when you become a non-resident. The amount withdrawn from your RESP is subject to tax.
There are many other implications to becoming a non resident:
- Severing ties with Canada
- Filing departure forms
- Filing departure tax return
The information provided on this page is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided on this page.