Canada Disability Savings Regulations

5.1 If an event described in paragraph 5(1)(a), (b) or (d) occurs while the beneficiary of an RDSP is no longer a DTC-eligible individual, the issuer of the RDSP shall repay to the Minister, within the period set out in the issuer agreement, the lesser of

• (a) the fair market value, immediately before the occurrence of the event, of the property held by the RDSP, and

• (b) the amount determined by the formula

  A + B – C

  where

  A

  is

  • (i) if the event occurs before the calendar year in which the beneficiary attains 51 years of age, the total amount of grants and bonds paid into the RDSP within the 10-year period before the day on which the beneficiary ceased to be a DTC-eligible individual, less any portion of that amount that was repaid to the Minister within that period,

  • (ii) if the event occurs after the calendar year in which the beneficiary attains 50 years of age but before the calendar year in which they attain 60 years of age and the beneficiary ceased to be a DTC-eligible individual before the calendar year in which they attained 50 years of age, the total amount of grants and bonds paid into the RDSP within the period (expressed in number of years) determined by the following formula that ended before the day on which the beneficiary ceased to be a DTC-eligible individual, less any portion of that amount that was repaid to the Minister within that period:

    60 – n

    where

    n

    is the beneficiary’s age on — or the age that they would have attained by — December 31 of the calendar year in which the event occurs,

  • (iii) if the event occurs after the calendar year in which the beneficiary attains 50 years of age but before the calendar year in which they attain 60 years of age and the beneficiary ceased to be a DTC-eligible individual after the calendar year in which they attained 49 years of age, the total amount of grants and bonds paid into the RDSP during the period beginning on January 1 of the year that is 10 years before the year in which the event occurs and ending on the day preceding the day on which the beneficiary ceased to be a DTC-eligible individual, less any portion of that amount that was repaid to the Minister within that period, or

  • (iv) if the event occurs after the calendar year in which the beneficiary attains 59 years of age, nil,

  B

  is the amount of any grant or bond that is paid into the RDSP during the period beginning on the day on which the beneficiary ceased to be a DTC-eligible individual and ending on the day on which the event occurs, and

  C

  is the amount of any grant or bond that has been repaid since the day on which the beneficiary ceased to be a DTC-eligible individual.