Who can open an RDSP?

An adult beneficiary can open an RDSP. If an adult beneficiary is not mentally capable, the legal guardian of property of the beneficiary can open the RDSP. In the case of a beneficiary who is a minor, a parent, both parents or a legal guardian of property can open and direct the RDSP. A beneficiary can only have one RDSP at a time, except when transferring from one RDSP to another. The issuer must transfer the assets or value of the assets to another RDSP of the beneficiary when requested and the transferee plan is to be closed within 120 days of the transferor plan being opened.