Your child’s JuniorISAwill be in their name, but the person with parental responsibility who opens it is responsible for managing the account. The person who opens it is known as the ‘registered contact’.
The registered contact is the only person who can:
- change the account, for example from a cash to a stocks and shares Junior ISA
- change the account provider
- report changes of circ*mstances, for example change of address
Contact your account provider to do this.
You cannot take money out of a Junior ISA until your child turns 18.
Children older than 16
If your child is 16 or older they can become the registered contact for their Junior ISAs.
When your child turns 18 they can take out any money in their Junior ISAs.
Junior ISAs automatically turn into an adult ISA when the child turns 18.
If your child lacks the mental capacity to manage their account when they turn 18
You, or a close friend or relative, need to apply to the Court of Protection (COP) for a financial deputyship order. This will allow you to manage your child’s adult ISA account or take out money on their behalf once they turn 18.
In Scotland, applications need to be made to the Office of the Public Guardian in Scotland.
In Northern Ireland, applications need to be made to the Office of Care and Protection.
