The maximum amount of CDA funds that can be transferred to the Post-Secondary Education Account (PSEA) is based on the sum of the following:

1. Government co-matching cap amount;

2. Maximum deposits from parents or third parties that can be co-matched;

3. CDA First Step Grant (if any);

4. Child Development Credit (if any); and

5. Bank accrued interest. 

If your CDA balance is above this maximum amount (PSEA cap), MSF will refund to the excess funds to the CDA trustee. MSF will notify the CDA trustee about the refund of the excess CDA balance (ECB) by Jan of the following year after CDA has closed.