I agree with what @Mike-Nfld wrote about the RRSP (since you’re a U.S. resident), as well as his suspicion about the RESP — you cannot deduct the contributions from U.S. taxable income. (Which we would expect, since even the domestic Education Savings Account contributions aren’t deductible...)
In fact, the IRS is even less accommodating with the RESP, allowing no pre-tax or tax-deferral benefit in any situation. So U.S. residents (for tax purposes) generally avoid even having such an account for their kids (unless they can put it in the name of a Canadian relative), as the year-to-year earnings are officially taxable here.
@sv_siri, this thread has had a leisurely time frame, but I hope you’ve been getting a handle on all of this so you can decide how to proceed...
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