# RESP in Quebec and provincial grant



## chilly (Apr 3, 2009)

Hi all,

I'm a Quebec resident and this year opened an RESP account at TD Canada Trust (to take advantage of the e-Series funds) for my daughter. Based on the account activity, I can see that the CESG is being deposited directly into the account since I see a purchase equal to 20% of the amount that I've contributed into the account.

However, just recently I've learned that the Quebec government offers an additional tax credit called the QESI (Quebec Education Savings Incentive) which is to be deposited directly into RESP accounts. This is supposed to amount to 10% of the contributions into the account, in addition to the CESG grant as I understand it.

I see no indication that the QESI is being deposited at all.

The troubling thing is that the Revenue Quebec website lists a list of RESP providers who are currently eligible for the QESI, and TD is not on that list. BMO, CIBC, RBC are on the list, but no TD. Here's the link: http://www.revenu.gouv.qc.ca/en/citoyen/credits/credits/iqee/fournisseurs_reee.aspx

This makes no sense to me. Has anyone dealt with this issue (especially those with RESP accounts at TD)? What have your experiences been?

I'm in the process of contacting my bank to see if they have additional information, but in the meantime I figured I would ask for your advice.

Thanks for your help!


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## HaroldCrump (Jun 10, 2009)

Based on the web page you quoted, I think it is clear that your bank (TD) doesn't offer the extra grant.
A similar issue exists with other types of RESP grants like additional CESG and CLB - some providers can process those and some can't.
If your account is with a provider who can't, then you are essentially SOL.
Call TD for sure to check but I suspect your only option may be to move your account to another provider.
That's what my RESP provider (iTrade) told me anyway.


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## chilly (Apr 3, 2009)

Well, it seems that the QESI grant is not eligible in RESP accounts open in branch; however, it is eligible for RESP accounts at TD Waterhouse... 

As discussed in this forum, the Waterhouse self-directed RESP has a 50$ annual fee associated with it, waived when the account balance reaches $25,000, but since I'm contributing $2500 per year to this RESP (to maximize the CESG), it will take a while for the balance to reach the $25K threshold...


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## chilly (Apr 3, 2009)

For those who are interested, my post above is incorrect. QESI is not eligible for TD Waterhouse accounts either, nor is it available at CIBC Investor's Edge.

Four Pillars wrote about the QESI a few days ago:
http://www.four-pillars.ca/2010/04/05/qesi-quebec-resp-grants-for-educational-saving/


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