In the event either myself or my beneficiaries don't pursue an education, what happens to unused RESP funds?

If the RESP account beneficiary does not start or complete their post-secondary education, the RESP account holder can either:

1. Transfer the funds to another RESP or let other beneficiaries use the contributions in a family RESP plan
   
   
2. Transfer the funds to an RRSP account depending on the contribution room
   • This excludes the grants from the government 
   • The RESP account must have been active for 10 years, and the beneficiary(ies) must be over 21 years of age 
     
     
3. Withdraw the funds as cash 
   • This excludes the grants from the government 
   • Subject to tax on earnings only