Did you receive overpayments from your Registered Disability Savings Plan (RDSP) in 2016? If you did, you’ll have to make repayments to Employment and Social Development Canada.
How much will I have to repay?
For every $1 of disability assistance payments (DAP) withdrawn from your RDSP after January 1, 2014, you’ll need to repay $3 from any Canada Disability Savings Grant or Canada Disability Savings Bond that was paid into the plan within ten years of the withdrawal, up to the assistance holdback amount. This amount is generally defined as the total amount of bonds and grants that were paid into an RDSP within a given 10-year period.
You might also have to make repayments if one of the following situations applies to you:
- you voluntary closed your RDSP
- the plan was deregistered or
- you’re no longer eligible to receive the disability amount
Where can I learn more?
- Registered disability savings plan (RDSP) (CRA website)