You can have one Registered Disability Savings Plan account.
Unlike RESPs, TFSAs and RRSPs where you are allowed to have as many accounts at different financial institutions, you may not have more than one RDSP account. In fact, as the government says on its Employment and Social Development website, “There can only be one beneficiary per RDSP and only one RDSP per beneficiary.”
However, this does not stop you from moving your account. There are times where you may want or need to transfer your RDSP account from one financial institution to another. You may need to do it if you are moving from one province to another, or you simply may be unhappy with the level of service you are receiving, currently.
The transfer is managed by the two financial institutions: the “relinquishing” institution and the “receiving” institution. Once you identify the new home for your RDSP, be it a bank, credit union, or financial advisor (who opens it at a mutual fund company), you will provide them with an account statement for your current RDSP and they will complete all the paperwork required for you to sign and execute the transfer. The paperwork is sent by the “receiving” institution to the “relinquishing” institution, at which point the funds from your initial account are transferred to the new account.