Notice #642A - Application for Saskatchewan Advantage Grant for Education Savings
Official title: Application for Saskatchewan Advantage Grant for Education Savings (SAGES) Following Transfer from Non-offering Promoters Policy
Disclaimer: RESP promoters
The information contained on this page is technical in nature and is intended for Registered Education Savings Plan (RESP) and Canada Education Savings Program promoters. For general information, visit the RESP section.
Information bulletin
Number:
CESP/PCEE-2015/16-003A-642
Date:
October 13, 2015
Subject:
Application for Saskatchewan Advantage Grant for Education Savings (SAGES) Following Transfer from Non-offering Promoters Policy
Purpose
The purpose of this Information Bulletin is to inform Registered Education Savings Plan (RESP) promoters of the Application for SAGES Following Transfer from Non-offering Promoters Policy.
Background
The Government of Saskatchewan has introduced a new policy to provide subscribers who transfer RESP accounts from a non-offering promoter to a SAGES offering promoter with the flexibility to apply for SAGES on eligible contributions made at a non-offering promoter. The application for SAGES following a transfer from a non-offering promoter to a SAGES offering promoter will be made through a manual intervention, processed by Employment and Social Development Canada (ESDC).
How to apply
The subscriber must first complete a SAGES application form and make a contribution to the new RESP. The promoter submits the application to ESDC through the regular monthly transaction process. Once the request is successfully processed, the SAGES offering promoter can apply for the SAGES grant on eligible contributions that were transferred from the non-offering promoter if all eligibility criteria have been met. The SAGES offering promoter will submit the request for SAGES to ESDC by e-mail at cesp-pcee@hrsdc-rhdcc.gc.ca
The application email must include:
- The contract number (offering promoter).
- The name(s) of the beneficiary(ies).
- The Saskatchewan residency effective date as it appears on the original application form.
Following the manual intervention, promoters will need to ensure the notional accounts are updated accordingly.
Effective date
The Application for SAGES Following Transfer from Non-Offering Promoters Policy comes into effect immediately.
Contact us
If you have any questions on this Information Bulletin, please contact us by e-mail at cesp-pcee@hrsdc-rhdcc.gc.ca or call at 1-888-276-3624. Our hours of operation are from 8 am to 5 pm Eastern Standard Time.
Related information
Notice #642B - Questions and answers: Application for Saskatchewan Advantage Grant for Education Savings (SAGES) Following Transfer from Non-offering Promoters Policy