Child Trust Funds (CTF) were set up for all children born between 1 September 2002 and 2 January 2011 with a live Child Benefit claim. Approximately 6 million CTFs were opened by parents or guardians, with an additional million set up by HMRC.

Many of the initial account holders have now turned eighteen and are entitled to withdraw funds or transfer the savings into an adult ISA. This an opportunity for young adults to invest in their future and hundreds of thousands of accounts have already been claimed. However, many eligible teenagers have not yet claimed their account and are missing out on their CTF cash.

Identifying the Child Trust Fund provider

To enable account holders to find out where their CTF is held, if they do not know the provider, HMRC have created an online tool that can be accessed here.

To use the online form users will need a Government Gateway ID and password – this can be created when completing the form.

Parents looking for their child’s CTF will require

  • The child’s Unique Reference Number (this can be found on the annual CTF statement); and
  • Their National Insurance number.

Details of the CTF provider will be sent by post within three weeks of HMRC receiving the request.

How it works

Once the provider of the CTF has been identified, they should be contacted directly. The account holder can then either request to withdraw the money or transfer it to an adult ISA or other savings account.

At 16 years of age, the account holder has the option to operate their CTF account or have their parent or guardian continue to look after it. They are unable to withdraw funds at this age.

At 18 years of age, the savings can be withdrawn from the fund and moved to a different savings account.