Skip to content

Canadian Money Help

Search calculators

Journeys
Calculators
About
FR

Home
Journeys
Money for a new baby in Canada
Checklist

Checklist · Money for a new baby in Canada

New-baby money checklist

Every administrative and financial action across the four stages of Canadian parenthood's first phase. Progress saves to your device. Print to share with a partner or take to a parent education class.

Reviewed by Ben Stevenson, Managing Editor, Canadian Money Help · Updated April 21, 2026 · Methodology

Pre-baby

Confirm EI eligibility for both partners (600+ insured hours past 52 weeks)
Ask employer about EI top-up benefits
Run 12–18 month leave cash flow projection
Build 2–3 month emergency fund beyond EI expectation
Review life insurance coverage (target 10x income per parent)
Review disability insurance coverage
Update wills and guardian designations
Update beneficiaries on RRSP, TFSA, FHSA, pension, life insurance
Research childcare options and waitlist fee if applicable

Around birth / adoption

Apply for EI maternity benefits (up to 12 weeks before birth)
Apply for EI parental benefits (after birth)
Receive Record of Employment from employer
Register birth with province
Apply for baby's SIN
Apply for provincial health card for baby
Apply for Canada Child Benefit (Form RC66 or CRA MyAccount)
Open RESP for baby; contribute first $100 to activate
Increase life insurance coverage for both parents
Update wills to name guardian
Update beneficiaries on all accounts to include child if applicable
Confirm maternity and short-term disability coverage through employer

First year

Confirm CCB deposits (first payment ~8 weeks post-application)
Contribute $2,500 to RESP to trigger $500 CESG match
Apply for Canada Learning Bond if income-qualified
Apply for provincial childcare subsidy if using daycare
Set monthly budget review; track overspending categories
Confirm employer benefits continue through leave
Submit EI biweekly reports on time
Plan return-to-work date; confirm childcare slot 3 months out
Update tax withholdings based on new CCB stream

Years 2+

Review RESP growth annually; adjust contributions
Continue $2,500/year RESP minimum to claim full CESG
Catch up unclaimed CESG years if income allows
Review life insurance every 3–5 years
Update wills after major life events (second child, move, inheritance)
Review beneficiary designations annually
Teach basic money concepts to children by age 5–6
Plan RESP withdrawal strategy in senior years of high school
If child has disability, apply for DTC + CDB + open RDSP

Canadian Money Help

Plain-language Canadian personal finance, cited to source. Guidance, not advice. No affiliate links, no upsell, no ads.

EN | FR

Life situations

New to Canada
New baby
Buying your first home
Education savings
Paying down debt
Self-employed
Planning retirement
Estate planning

Calculators by category

Mortgage
Retirement & benefits
Tax
Registered accounts
Property & land transfer
Loans & credit
Sales tax
Investment

Sources we cite

Canada Revenue Agency
CMHC
Service Canada
Statistics Canada
Revenu Québec
OSFI

About

Editorial standards
How the site is funded
Contact
Privacy
Disclaimer
Last reviewed: April 2026

© 2026 Canadian Money Help. Information only, not tax, legal, or financial advice. Published by Kernel Media · 2026 CRA tax tables verified