Account details

FAQs

• What is the RESP grant payment date?

  Discover the RESP grant payment date and eligibility criteria. Visit our page for more details.

• How do I request an RESP withdrawal?

  See the steps to make a withdraw from your RESP, or contact us through our Message centre or by phone.

• How do I open an RRIF and transfer my RRSP?

  Discover how to open an RRIF and transfer an RRSP to an RRIF.

• How do you calculate the minimum and maximum amount to withdraw from a RRIF or LIF?

  The minimum amount to be withdrawn from an RRIF or LIF is calculated by the NBDB team at the beginning of each fiscal year.

• What is the maximum amount that can be contributed to a TFSA this year?

  Discover the maximum TFSA contribution amount for this year on our National Bank TFSA page. Check your contribution rights with the CRA.

• Is the account opening process the same for a family RESP as for an individual RESP?

  See the account opening process for a family or individual RESP. Visit our webpage for more details.

• Should I indicate my spouse's age when opening my RRIF account?

  Indicate your spouse's age when opening an RRIF for financial growth and longer payment period.

• What is the FHSA and how does it work?

  Discover the First Home Savings Account (FHSA), a tax-free account for first-time homebuyers.

• How do I designate a beneficiary on a registered account?

  Learn how to designate a beneficiary for a registered account (RESP, RRSP, FHSA, TFSA, etc.) by filling out our online forms.

• FHSA, RRSP or TFSA, which one to choose?

  Visit out webpage to learn the difference between our registered accounts and which may be best the fit for your goals.

• What is the RESP contribution limit?

  Discover the RESP grant payment date and eligibility criteria. Visit our page for more details.

• How do I add a beneficiary to an RESP?

  Learn how to easily add a beneficiary to an RESP by filling out our forms.

• How can I benefit from additional RESP grants or the Canada Learning Bond?

  Maximize your savings with additional RESP grants or the Canada Learning Bond. Visit our website to learn more and apply now.

• How does a joint account work and what are my rights in the event of death?

  Discover how a joint account works and your rights in case of a spouse’s death.

• What is the FHSA and when will it be available?

  Learn more about the First Home Savings Account (FHSA) and if you're eligible to open an account.

• What is a Tax-Free Savings Account (TFSA) and how does it work?

  Learn about Tax-Free Savings Accounts (TFSA) and how to grow your savings tax-free. Visit our dedicated page for more information.

• Where can I find the annual minimum and maximum withdrawal amounts for the RRIF and LIF accounts?

  Learn how to calculate your RRIF/LIF withdrawal amounts and where to find them. Visit our website for more details.

• How do I calculate my net family income if I contribute to the RESP of a child that I am not the parent of?

  Calculate the net family income for non-parent RESP contributor. Visit National Bank's RESP page for details.

• Once I open an FHSA, can I carry forward my unused contribution room?

  Visit out dedicated FHSA page to learn how the First Home Savings Account works.

• What types of accounts can I open?

  Discover the right account for you. Personal, joint, or legal entity accounts available. Visit our Types of accounts page.

• Does the Canada Learning Bond (CLB) require me to contribute additional money to the RESP?

  Discover how the Canada Learning Bond works: no additional money needed, government deposits up to $1,500 per year. Visit our RESP page for details.

• Is the Canada Learning Bond (CLB) included in the maximum RESP grant?

  Learn more about the Canada Learning Bond and its inclusion in the maximum RESP grant. Visit our webpage for details.

• Why is the FHSA so beneficial?

  Discover the benefits of the First Home Savings Account (FHSA): a tax-free account for first-time homebuyers. See our dedicated FHSA page.

• How to withdraw money from my FHSA?

  Visit our dedicated FHSA page to learn how a First Home Savings Account works and how to access your funds when you're ready to buy a house.

• Who can act as the beneficiary's primary caregiver in an RESP?

  Learn who can act as the beneficiary's primary caregiver for an RESP. Learn about individual and public caregivers on our National Bank website.

• What is the minimum and maximum annual withdrawal amount from a RRIF or LIF?

  See how to calculate your RRIF/LIF withdrawal amounts and where to find them. Visit our website for more details.