How an RESP works: the subscriber
How does an Registered Education Savings Plan (RESP) work?
About setting up an RESP:
The subscriber makes contributions to the RESP. Contributions are not deductible from the subscriber’s income on their tax return. The contributions are paid back to the subscriber at the end of the contract if they are not paid out to the beneficiary. Subscribers do not have to include these contributions in their income.
A subscriber enters into a contract with a promoter and names one or more beneficiaries under the RESP plan.
[...] will need a Social Insurance Number (SIN). -Both the child and the subscriber need a [...]