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<p>For the tax years 2020-2021 to 2022-2023 HMRC replied, in total, to over 157,000
requests to trace Child Trust Fund (CTF) accounts. HMRC does not hold data on how
many of those who made the request successfully linked to their CTF accounts. Some
may be below 18 and seeking to trace their account in anticipation of account maturity.
Others may have traced the account but decided not to access it at that point, withdrawn
their CTF savings or may have transferred the savings to an ISA or other type of current
or savings account. (HL2166)</p><p> </p><p>Primary responsibility for communicating
with account holders and their registered contact (usually a parent) lies with the
CTF account providers. The government is committed to helping people identify and
access the savings they are entitled to and continues to explore new routes to reunite
young people with their matured CTFs.</p><p> </p><p>HMRC actively engages with the
industry, other government departments, organisations such as the Money and Pensions
Service, and youth focused charities to raise awareness of CTFs amongst young people.
HMRC also issues a range of communications and provides resources for key intermediaries
such as the University and Colleges Admissions Service, who have greater influence
and visibility amongst the CTF audience.</p><p> </p><p>The government’s current plans
will reunite most accounts with their owners, but there may be some cases where further
action will be required. The government will monitor how many matured accounts remain
open and judge when it is appropriate to intervene in other ways.</p>
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