Canada Learning Bond — Get Up to $2,000 in RESP Money Without Contributing a Dollar
What Is It?
The Canada Learning Bond can deposit up to $2,000 into an RESP for eligible low-income children and youth, and no personal contribution is required to receive it.
Do I Qualify?
- The beneficiary was born in 2004 or later
- The beneficiary is a resident of Canada and has a valid SIN
- The family met the income rules for at least one eligible year
- An RESP exists or can be opened for the beneficiary
How To Use It
- Check CLB eligibility years and whether the child already has an RESP.
- Open an RESP with a provider that offers CLB deposits if needed.
- Request the CLB through the RESP provider.
- Ask about missed prior-year eligibility because the bond can be retroactive.
What Most People Don’t Know
- No personal contribution is required to receive the bond.
- Older eligible youth can sometimes request the bond themselves.
- The CLB can still be claimed for past eligible years even if no RESP existed at the time.
Frequently Asked Questions
Is this automatic?
A: Not always. Automatic enrolment is expanding, but many families still need to open or use an RESP to receive the bond.
What documents help most?
A: A SIN, proof of identity, and RESP paperwork are the main items needed.
Where do I start?
A: Start with the CLB overview and then an RESP provider that supports the program.
What is the biggest trap?
A: The biggest trap is assuming low-income families need spare cash to qualify. They do not.