We send the Child Trust Fund (CTF) voucher to the person who is receiving Child Benefit for the child. Deciding who will open the account is an important decision as that person will be responsible for managing the account until the child is 16. This doesn't have to be the person who receives the voucher but does have to be a person with parental responsibility.
Parents or other people with parental responsibility (a legal term meaning someone with the rights and duties of a parent) for the child can open a CTF account. But only one person can be responsible for looking after the account for a child under 16 and they are called the 'registered contact.' Parental responsibility can apply to parents, step-parents, adoptive parents and guardians.
More information on parental responsibility
The registered contact is the only person who can tell a provider, such as a bank or building society, how to look after their child's money.
More information on the registered contact
If your circumstances change and it is necessary to change the registered contact, you can arrange this with the provider.
If a person with parental responsibility has not opened an account for the child before the voucher expires, then HM Revenue & Customs will open a stakeholder account for them. We will write to the person who receives Child Benefit for that child telling them where the account is held and also suggesting that someone with parental responsibility applies to be the registered contact.
Families without a fixed address
There is no reason for children whose parents do not have a fixed address (such as children in families that move regularly) to miss out on the CTF. As for all other children, somebody must be receiving Child Benefit. If you are in this position, you will automatically be issued with a voucher to open an account if you receive Child Benefit for your child. Statements about your child's account will be sent to any mailing or contact address you give to your chosen provider.
Your entitlement
The law does not allow providers of CTF accounts to refuse your voucher and providers must open an account for your child so long as:
- the voucher is genuine
- you are over 16
- you have parental responsibility for the child
- you are providing accurate information
- you apply to open an account before the voucher expires and
- the voucher is given to the provider no later than 7 days after the expiry date.
FAQ
Further information about who can open an account
