A transfer from one RDSP to another may only be made under the following conditions:

the transfer must be made from a beneficiary’s RDSP to another RDSP for the same beneficiary;
a transfer may only be completed if all holders of the current RDSP agree to the transfer; and
all funds must be transferred from the current RDSP to the new RDSP.

If the transfer to the new RDSP is not completed within 120 days from the date the new RDSP contract is signed, the new RDSP will be considered invalid and the prior RDSP will continue as the ongoing plan.