# RESP for dual Can/US child?



## none (Jan 15, 2013)

Hi,

I was talking to an american friend about RESPs and she mentioned that for her (she's american living in Canada) that RESPs aren't really worth while. I did some googling and it seems that she unfortunately is correct.

e.g. http://www.collinsbarrow.com/en/cbn...ent-of-certain-canadian-tax-deferred-accounts

It got me thinking though, although my wife and I have maple syrup in our veins our son was born in the US (and consq has dual citizenship). Because my wife and I are Hosers we should be fine on this with the exception that my son will have to file US taxes when he takes the money out.

Does anyone know if that is correct?
Thanks.


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## Four Pillars (Apr 5, 2009)

What's the requirement for US citizens? That they file US tax return if they make any income at all?

Any non-contribution money withdrawn from an RESP to be used for educational purposes will be reported as income in the students hands.


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