Yes. We automatically track your total contributions made with us for each Beneficiary to ensure you don't exceed the total lifetime limit of $50,000. We will also let you know if someone else, be it a grandparent, aunt or uncle opens a CST RESP for your beneficiary. 

If you over-contribute to an RESP, you’ll be charged 1% on the over contribution amount per month by the federal government, at the end of the year. So say you’ve contributed $1,000 too much on July 1, you’ll be charged $60 (that’s $10 multiplied by six months) at the end of the year.

But don’t worry, we’ll alert you if you’ve contributed too much to your CST Plan(s). We do not track any RESPs you have with other providers). What can you do if you have over contributed? Take out the excess contribution as soon as possible to avoid further penalties to the federal government.