HMRC writing to thousands of 21-year-olds about forgotten Child Trust Funds
Thousands of 21-year-olds across the UK are to be written to by HM Revenue and Customs, reminding them they have a forgotten Child Trust Fund worth on average £2,200.
The Government announced the campaign on 23 April.
More than 750,000 Child Trust Fund accounts remain unclaimed, according to figures from HM Treasury and HMRC.
Child Trust Funds were set up by the Government for every child born in the UK between 1 September 2002 and 2 January 2011.
The Government paid an initial sum into a tax-free savings account in each child’s name, with parents and guardians able to add more on top.
The money becomes accessible to the account holder when they turn 18.
HMRC says it is writing to all 21-year-olds whose accounts remain unclaimed because that age group is most likely to have up-to-date contact details on file, through PAYE or student finance records.
Letters are being sent in stages, with no full timeline given.
Economic Secretary to the Treasury Lucy Rigby said hundreds of thousands of young people did not know they had a Child Trust Fund, “let alone how to access it”.
She said some young people had “a couple of thousand pounds sat there that would really help them as they begin adult life”.
The Government is also urging young people to use the free Find My Child Trust Fund service on GOV.UK rather than waiting for a letter.
The tool is available to anyone aged 16 or over, and to parents and guardians searching on behalf of a child.
Searchers will need a Government Gateway ID or GOV.UK One Login, along with name, address, date of birth and National Insurance number.
HMRC says it should respond within three weeks with the name of the provider holding the account.
The account holder then contacts the provider directly to access the money.
The consumer website MoneySavingExpert has warned that scammers are likely to attempt to mimic the genuine HMRC letters.
HMRC will only contact people about Child Trust Funds by post.
Any email, text message or phone call claiming to be about a Child Trust Fund should be treated as a scam.
Suspicious texts can be forwarded to 60599, and suspicious emails to [email protected].
HMRC has also warned against using paid third-party claims firms to trace lost accounts, which can charge hundreds of pounds.
The same search can be carried out for free via the GOV.UK service.
In 2025 the Advertising Standards Authority banned a TikTok advertisement from a claims firm that had told users they had “nothing to lose”.
Tens of thousands of Child Trust Fund accounts belong to children with special educational needs or disabilities, who cannot access the money without going through a Court of Protection process.
That process can cost more than the value of the account.
MoneySavingExpert founder Martin Lewis is among those who continue to campaign for the rules to be changed.
The Find My Child Trust Fund tool is available at gov.uk/child-trust-funds/find-a-child-trust-fund.
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