Canada Learning Bond
Families with children born in 2004 or later whose parent or guardian receives the National Child Benefit (NCB) Supplement (less than $44,701* net income) qualify for the Canada Learning Bond (CLB)†.
The Canada Learning Bond provides a one-time initial contribution of $500 to an eligible child’s Registered Education Savings Plan (RESP). If the parents or guardians continue to qualify and receive the NCB Supplement, the government will also provide an additional $100 for each year of eligibility until age 15.
Over time, that could add up to as much as $2,000 in grant payments, plus interest.
Canada Learning Bond Summary Chart
|Additional Payment per year, up to a maximum of 15 years||$100 per year, up to $1,500|
|Lifetime maximum CLB grant you may qualify for**||$2,000|
To apply for the Canada Learning Bond:
1. Register the birth or adoption of the child.
2. Apply for a birth certificate.
3. Apply for a Social Insurance Number (SIN) for the child. download a SIN application.
4. Open a Registered Education Savings Plan (RESP) .
5. Download the appropriate form for your CLB application
For more information on the Canada Learning Bond, please call our Customer Service at 778-552-5218 or send us an email to email@example.com.
†Certain conditions apply, see Prospectus of your Plan for full details.
*Based on 2013 indexation rates. This amount will be indexed to inflation for subsequent taxation years.
** To receive lifetime maximum CLB, you must meet criteria of receiving NCB Supplement each year.