The government says more than 750,000 accounts remain unclaimed, with many young adults unaware that a Child Trust Fund was opened in their name. Those born between 1 September 2002 and 2 January 2011 may be eligible to trace their account using a free online service.
The renewed appeal follows a fresh warning from HMRC, which is encouraging eligible individuals and their parents or guardians to use official tools rather than paid tracing services. The accounts were created as long-term, tax-free savings vehicles and remain invested until they are withdrawn or reinvested.
For many families, the issue is not whether the account exists but whether they know where it is held. According to HMRC, finding the original provider is free and requires only basic personal information.
More than 750,000 Child Trust Fund Accounts Remain Unclaimed
Child Trust Funds were introduced for children born between 1 September 2002 and 2 January 2011. Every eligible child received a government contribution of at least £250 when the account was opened, while some children from lower-income households received £500. The savings are managed by banks, building societies or other authorised providers rather than by the government itself.
Young people can take control of their account from the age of 16 and gain access to the money once they turn 18, when the account matures. If they already know which provider holds the account, they can contact that organisation directly. If not, according to GOV.UK, they can use HMRC’s free online service to identify the original provider.
The online search requires a National Insurance number and date of birth. Parents or guardians searching on behalf of a child under 18 must provide the child’s full name, address and date of birth, together with any previous names where relevant. HMRC states that applicants usually receive a letter identifying the provider within three weeks if the request is made online.
Officials Warn against Paying Private Firms to Trace Accounts
HMRC has also warned families not to pay third-party companies offering to locate Child Trust Funds. According to HMRC, some commercial agents charge substantial fees, with one requesting up to £350 or 25% of the value of the account. The department says customers must still provide the same personal information that is required when using the government’s free service.
Money-saving expert Martin Lewis has previously highlighted the scale of the issue, saying that as many as one million Child Trust Funds may have become “lost” because people have either lost track of them or never realised they existed. He noted that every eligible child received an initial government payment regardless of whether their parents added further contributions.
Andy Wood, a tax expert at Tax Barrister UK, said many accounts were opened automatically by parents, guardians or HMRC more than two decades ago, meaning some young adults reach adulthood without knowing they have one. He added that records may have been misplaced following house moves or changes in family circumstances, leading some people to assume incorrectly that no account exists.
The Share Foundation also encourages eligible young people aged between 18 and 21 to check for an account, noting that it offers a free tracing service alongside the official GOV.UK tool. According to the organisation, it has already helped connect more than 65,000 young people with their Child Trust Fund accounts.
