RESP: The Old Switcheroo

RESP fund withdrawal

Hello it’s me, this was written in 2010. Since then, most registrars issue digital proofs via student portals, and many RESP providers accept uploaded PDFs instead of wet-ink letters. Brokerages are increasingly allowing online EAP requests, although some big-bank branches still prefer paper. The fundamental proof of enrollment to unlock RESP funds hasn’t changed.

After my tirade Money to Get Money, one of the schools involved in my RESP escapades became very sensible. I must somewhat retract some of my commentaries.

My middle daughter is heading to Acadia University in Nova Scotia. She didn’t see any information on the website about how to get a Letter of Enrollment, which she would need for an RESP withdrawal. So, she emailed the Registrar to ask what she should do and how long it would take.

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This email was sent on Sunday night. On Monday morning, the school registrar responded with an email that included a scan of the official letter, asking my daughter if this was sufficient. No money was spent, no forms were filled out, and there was no fuss just a simple email.

Now, I'm left wondering if smaller universities might lack the expertise to maximize their revenue from students. Alternatively, perhaps the large banks have yet to contact the school regarding their role in the Great RESP Sting.

I was flabbergasted to see this email in my inbox. Now, I can go to my bank. I will check if it is enough to start extricating funds from one of my daughters' RESP. I am hopeful that this might do the trick. If not, I am sure things can be put right quickly.

Interestingly, I have paid some of this daughter's fees (a sizable deposit). That was sufficient for the school to send me a letter of Full Enrollment. It was good of them. The other University I deal with emphasized that they would not send out a letter of enrollment. This would only happen after fees were paid in full. I have completed that now. I am waiting to find out how they will handle my request for a Letter of Enrollment. Don't worry, good reader, you will hear more about this as soon as it happens.

RESP Withdrawal Checklist (Canada)

Timeline at a glance

• 6–8 weeks before fees due: Confirm your RESP provider’s requirements + processing time.
• 4–6 weeks before fees due: Request Proof/Letter of Enrolment from the registrar (ask for a PDF).
• 3–4 weeks before fees due: Decide your mix: EAP (grant+growth) vs Capital (your contributions).
• 2–3 weeks before fees due: Submit the RESP withdrawal request with the enrolment PDF.
• 1 week before fees due: Follow up; confirm deposit date.
• After deposit: Pay tuition/residence and file documents.

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1) Documents to gather

• Student legal name + student ID
• Institution name + program of study
• Term dates (start/end) + full/part-time status
• Proof/Letter of Enrollment (PDF) from registrar (official, dated, signed/approved)
• RESP plan/account number + subscriber (your) details
• Bank deposit info (where the RESP funds should land)

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2) Requesting Proof/Letter of Enrollment (what it must show)

• Student name & ID
• Institution name/logo & registrar/bursar contact info
• Program of study
• Full/part-time status
• Academic period (e.g., Sept 1–Dec 31)
• Issue date and official signature/approval (digital is usually fine)

Tip: Most schools have a student portal that generates an official Proof of Enrolment PDF. Ask for that first.

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3) Confirm your RESP provider’s rules (before you line up)

• Do they accept portal PDFs/scans? Any specific format?
• Where/how to submit (upload, secure email, branch)?
• Do they need their own EAP request form or will the letter suffice?
• Processing time and cut-offs during peak season
• Any EAP withdrawal limits in the first weeks of study (these change; ask don’t guess)

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4) Choose what to withdraw (strategy)

• EAP (Education Assistance Payment): Grants + investment growth (taxable to the student, usually low tax)
• Capital/PSE: Your original contributions (non-taxable on withdrawal)
• Plan the order (many pull EAP first while the student’s income is low)

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5) Submit the request

• RESP provider form completed (if required)
• Attach Proof of Enrolment PDF
• Specify amounts (EAP vs Capital) and deposit account
• Keep a copy of everything you sent (PDFs, emails, time stamps)

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6) Follow-up & payment

• Confirm approval + deposit date
• Pay tuition/residence before the penalty deadline
• Save receipts (tuition, books, residence/meal plan)

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7) Year-end tax housekeeping

• Watch for the T4A (EAP is reported in the student’s name)
• Download T2202 (tuition slip) from the school portal
• Coordinate tuition credits with the student’s return (transfer rules apply)
• Keep a simple ledger of EAP vs Capital withdrawals by term

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8) Troubleshooting (because… Canada)

• School says “no letter until fees paid in full” → Ask for Proof of Registration/Enrolment covering term dates; this is usually enough for RESP.
• Bank insists on an “original” or fax → Ask for their written policy; many accept registrar PDFs. Escalate politely to a supervisor/back-office.
• Delays risk late fees → Ask the registrar/bursar for a short deferral with proof the RESP payout is en route.
• Form ping-pong → Email the provider: “Please confirm this enrolment PDF meets your requirement” (get it in writing).

FAQ Enrollment Letters