RDSP stands for Registered Disability Savings Plan, it was developed by the federal government of Canada to help citizens with severe and prolonged disabilities.
CIBC offers you mutual funds and smart investment solutions to be held in RDSP.
The investments in RDSP are tax-deferred.
The holder of RDSP can use his funds for any expenditures and can be eligible for a federal grant of up to 3,500 CAD annually.
To be eligible for an RDSP in Canadian Imperial Bank of Commerce you should have:
- the right to the disability tax credit
- a valid SIN
- Canadian residence
- be less than 60 years at the time the RDSP is entered into
If you have additional questions, please call 1-800-465-3863.
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