Can Both Parents Open an RESP For One Child?

Saving for your child’s education is a priority for many families—and a Registered Education Savings Plan (RESP) is one of the most effective tools to do just that. But when both parents want to contribute, the question often comes up: Can each parent open their own RESP for the same child? Or is it better to open a joint account—or stick to just one?

This is a common concern, especially for separated, divorced parents or even for couples who simply prefer to manage their finances separately. The good news is that both parents can open individual RESPs for the same child. But as with most things in finance, there are a few rules and potential pitfalls to keep in mind. Here’s how it works—and what to watch out for.

Understanding the Basics of RESP Accounts

Before diving into whether both parents can open an RESP for one child, it helps to understand how RESPs work.

At its core, a Registered Education Savings Plan (RESP) is a tax-sheltered account designed to help save for a child’s post-secondary education. It’s a long-term investment tool with unique rules and benefits that make it especially appealing to Canadian families.

The child (or children) the RESP is opened for is the beneficiary while the subscriber (the person who opens the RESP)—or in some cases, joint subscribers— makes the contributions, and manages the account.

A subscriber puts money into it over time, and the government helps out along the way by contributing through grants you’re eligible to receive. The money you invest grows tax-deferred, and when your child eventually withdraws it for school, it’s taxed in their name—usually at a much lower tax rate.

Types of RESPs

There are two main types of RESPs:

• Individual RESPs
• Family Plan RESPs

An Individual RESP is just what it sounds like—set up for one child (the “beneficiary”). Anyone can open one: a parent, grandparent, or family friend.

A Family RESP, however, is meant for families with more than one child. It allows you to name multiple beneficiaries by blood or adoption if they’re related to you. This can be a handy way to pool resources if you have more than one child to plan for.

Government Grants

Now, this is the part many people get excited about. The big one is the Canada Education Savings Grant (CESG). The government matches 20% of your first $2,500 contributions annually, up to $500 per year per child, with a lifetime max of $7,200. Some provinces—like Quebec and British Columbia—offer additional grants on top of that.

Can Both Parents Open an RESP?

Yes—both parents can open separate RESP accounts for the same child. It’s more common than you might think, especially in situations where parents are divorced, separated, or simply prefer to manage finances independently.

However, no matter how many RESP accounts are open for a child, the total contribution limit is shared across all of them. The lifetime contribution limit per child is $50,000, regardless of how many RESPs are listed under the child’s name. If both parents contribute without coordinating, it’s easy to go over the contribution limit accidentally, which can lead to tax penalties.

Government grants—like the Canada Education Savings Grant (CESG)—are tracked per child, not per account. So once a child hits their CESG max ($7,200), they won’t receive additional grant money, even if another RESP is opened in their name.

Benefits of Multiple RESPs

Opening more than one RESP for the same child might sound complicated, but in some cases, it actually works out really well. Here’s why having multiple accounts can be a smart move:

Both Parents Can Contribute Independently

One of the biggest advantages of having separate RESPs is that it allows both parents to contribute separately. Whether you’re managing money separately or prefer different saving styles, individual accounts give each parent complete control over their contributions and investment choices without coordinating every move.

Flexibility With Investments

Not all RESP providers offer the same investment options. Having multiple accounts lets each contributor choose a strategy that works for them. One parent, who prefers to play it safe with low-risk investments, can do so, while the other wants to aim for higher growth with a more aggressive portfolio. Multiple RESPs give you the flexibility to do both.

Potential Drawbacks and Considerations

Having separate RESPs as parents can offer flexibility, but it’s not without its challenges. Here are a few things to keep in mind before going the two-account route:

You Could Accidentally Go Over the Limit

The lifetime RESP contribution limit for each child is $50,000—and that total applies no matter how many accounts there are. If both parents are contributing separately without checking in with each other, it’s easy to go over that cap. And if that happens, there’s a 1% monthly tax on the extra amount until it’s withdrawn.

You Might Miss Out on Government Grants

While opening multiple RESPs for one child is quite common, it requires coordination between subscribers to make sure the beneficiary doesn’t miss out on any benefits.

The CESG gives you 20% on the first $2,500 you contribute each year—but only up to $500 annually per child, not per account. So, if both parents open RESPs for their child, it’s best to coordinate to make sure you are taking advantage of the grant funding your child is entitled to each year. 

The same goes for the Canada Learning Bond (CLB), which can only be deposited into one RESP. Not knowing which account is receiving it could lead to confusion—or missed opportunities.

More to Keep Track Of

Having multiple RESPs means more paperwork and more planning. Both subscribers will need to track contributions, grant usage, and investment performance across two accounts. While it’s doable—it does require communication to keep everything running smoothly.

Final Thoughts

If both parents want to open their own RESPs for the same child, it can work well—as long as there’s good communication. Separate accounts give each parent control over their own contributions and investment choices, which can be helpful, especially in situations where finances are managed separately.

That said, having multiple RESPs does come with some risks. Without proper coordination, you might run into issues like overcontributing, missing out on government grants, or just making things more complicated than they need to be.

In many cases, it’s actually simpler to contribute to one shared RESP. But if having separate accounts makes more sense for your situation, just make sure you’re both on the same page about who’s contributing what and how to make the most of the available grants.

Thinking about opening an RESP? At Embark, we make the process simple and stress-free. Whether you’re opening one account or managing two, we’ll help you optimize contributions, avoid penalties, and get the most out of government incentives like the CESG.

With smart tools, personalized advice, and ongoing support, Embark helps you stay on track—so your child’s post-secondary education fund can grow with confidence. Whether you’re starting fresh or catching up, we’re here to take the guesswork out of RESP planning and help you make the most of every dollar.