Income Tax Act — I-3.3 146.4
her registered disability savings plan. Registered status nullified (3) A disability savings plan is deemed never to have been a registered disability savings plan unless (a) the issuer of the plan provides without delay notification of the plan’s establishment in prescribed form containing prescribed information to the specified Minister; and (b) if the beneficiary is the beneficiary under another registered disability savings plan at the time the plan is established, that other plan is terminated without delay. Plan conditions (4) The conditions referred to in paragraph (2)(a) are as follows: (a) the plan stipulates (i) that it is to be operated exclusively for the benefit of the beneficiary under the plan, (ii) that the designation of the beneficiary under the plan is irrevocable, and (iii) that no right of the beneficiary to receive payments from the plan is capable, either in whole or in part, of surrender or assignment; (b) the plan allows an entity to acquire rights as a successor or assignee of a holder of the plan only if the entity is (i) the beneficiary, (ii) the beneficiary’s estate, (iii) a holder of the plan at the time the rights are acquired, (iv) a qualifying person (other than a person described in paragraph (c) of the definition qualifying person in subsection (1)) in relation to the beneficiary at the time the rights are acquired, or (v) an individual who is a legal parent of the beneficiary and was previously a holder of the plan; (b.1) before 2027, as a consequence of the death of a qualifying family member who was the remaining holder of the plan immediately before death, the plan may allow one qualifying family member — in respect of which the conditions set out in paragraph (c) of the definition qualifying person in subsection (1) are met — to acquire rights as a successor of the holder of the plan; (c) the plan provides that, where an entity (other than a qualifying family member in relation to the beneficiary) that is a holder of the plan ceases to be a qualifying person in relation to the beneficiary at any time, the entity ceases at that time to be a holder of the plan; (d) the plan provides for there to be at least one holder of the plan at all times that the plan is in existence and may provide for the beneficiary (or the beneficiary’s estate, as the case may be) to automatically acquire rights as a successor or assignee of a holder in order to ensure compliance with this requirement; (e) the plan provides that, where an entity becomes a holder of the plan after the plan is entered into, the entity is prohibited (except to the extent otherwise permitted by the Minister or the specified Minister) from exercising their rights as a holder of the plan until the issuer has been advised of the entity having become a holder of the plan and been provided with the entity’s Social Insurance Number or business number, as the case may be; (f) the plan prohibits contributions from being made to the plan at any time if (i) the beneficiary is not a DTC-eligible individual in respect of the taxation year that includes that time, unless the contribution is a specified RDSP payment in respect of the beneficiary, or (ii) the beneficiary died before that time; (g) the plan prohibits a contribution from being made to the plan at any time if (i) the beneficiary attained the age of 59 years before the calendar year that includes that time, (ii) the beneficiary is not resident in Canada at that time, or (iii) the total of the contribution and all other contributions made at or before that time to the plan or to any other registered disability savings plan of the beneficiary would exceed $200,000; (h) the plan prohibits contributions to the plan by any entity that is not a holder of the plan, except with the written consent of a holder of the plan; (i) the plan provides that no payments may be made from the plan other than (i) disability assistance payments, (ii) a transfer in accordance with subsection (8), and (iii) re