Do You Have a Forgotten Child Trust Fund? HMRC Is Now Trying to Find You

Do You Have a Forgotten Child Trust Fund? HMRC Is Now Trying to Find You

HMRC has launched a new awareness campaign to help thousands of young people in the UK track down and claim forgotten Child Trust Fund (CTF) accounts. With more than 750,000 accounts still unclaimed and an average balance of around £2,200, this is money that belongs to real people — many of whom simply do not know it exists.

If you were born between September 2002 and January 2011, there is a reasonable chance you have one of these tax-free savings accounts sitting dormant somewhere in the UK financial system.

What's happening

As of April 2026, HMRC is writing directly to 21-year-olds who have unclaimed Child Trust Fund accounts. The tax authority chose this age group specifically because many will be in employment or have accessed student finance, meaning HMRC is more likely to hold current contact details for them.

The campaign follows a meeting between Lucy Rigby, the City minister and economic secretary to the Treasury, and representatives from major financial institutions including HSBC and Nationwide. The goal is to identify practical ways to connect account holders with their money.

"Hundreds of thousands of young people in this country don't know they have a CTF, let alone how to access it," Rigby said. "Some will have a couple of thousand pounds sat there that would really help them as they begin adult life."

The Share Foundation, a charity that supports looked-after children and care leavers, is also involved. It is calling for HMRC-allocated accounts to be automatically released when holders turn 21, rather than requiring individuals to actively seek them out.

Why it matters

Child Trust Funds were introduced by the Labour government in 2005 to encourage long-term saving for children. The government contributed around £250 to each account at the time it was opened. Children from low-income families or in local authority care may have received an additional £250 on top of that.

The initial government stake was invested in the stock market, which is why balances vary. The average is currently put at £2,200, though some accounts will hold more and some less depending on investment performance and any additional contributions made by parents or family members.

Parents could add up to £9,000 per year to a CTF. However, if a parent did not open an account within 12 months of a child's birth, HMRC opened one automatically. This means many account holders have never had any direct contact with their CTF provider and may be entirely unaware the account exists.

Today, more than 6 million CTFs were issued in total. Two-thirds of recipients are now over 18 and legally entitled to access their money. Despite that, over 750,000 accounts remain unclaimed.

Who is affected

You may have an unclaimed Child Trust Fund if:

• You were born between September 2002 and January 2011
• Your parents did not actively manage or discuss a CTF with you
• You have never received correspondence from a CTF provider
• You were in local authority care during childhood

The accounts are held not by the government but by banks, building societies, and other savings providers. HMRC does not hold the money itself — it only holds records of where accounts were placed.

Even if you are older than 21, it is worth checking. The campaign is initially targeting 21-year-olds because of data availability, but anyone born in the eligible window who has not yet claimed their account can still do so.

What to do next

There are three main routes to tracking down a lost Child Trust Fund:

1. Use the government's free online tracing tool on GOV.UK. This is the most direct route and does not require you to know which provider holds your account.
2. Contact your CTF provider directly if you already know or can find out where the account is held.
3. Contact the Share Foundation charity, which offers support particularly for those who were in care and may face additional barriers to accessing their accounts.

Once you locate your account, you can choose to withdraw the funds or reinvest them in another savings product. There is no obligation to withdraw immediately.

If you are now managing your own savings and want to make the most of any money you recover, it is worth comparing current savings account rates. Taupia lets you compare savings accounts and household bills in one place, so you can see where your money could work harder.

Key facts at a glance:

• CTFs were available for children born between September 2002 and January 2011
• Government contributed approximately £250 at account opening (up to £500 for eligible low-income families)
• Average unclaimed balance: approximately £2,200
• Over 750,000 accounts remain unclaimed as of April 2026
• Account holders can trace their CTF for free via GOV.UK

Sources

• The Guardian: Money – Campaign launched to reunite young Britons with forgotten savings accounts (published 23 April 2026)