You must have parental responsibility for a child to open a junior ISA on their behalf. But your responsibility doesn't stop there!
What is 'parental responsibility' when opening a junior ISA (JISA)?
A child's legal guardian has 'parental responsibility' for them. That means they're legally responsible for providing shelter, protection, education and healthcare.
Usually, this is the child's parents. Birth mothers automatically have parental responsibility and birth fathers do if named on the birth certificate. But a grandparent, aunt or uncle, or even family friend, can be given parental responsibility, for example if the birth parents die or can't take care of the child.
You can read about parental responsibility and rights on the UK government website.
Only people over the age of 16 with parental responsibility for a child can open a JISA for them. They’ll also be the registered contact for that JISA until the child takes over, which they can do after they turn 16.
What does it mean to be a registered contact for a junior ISA (JISA)?
Even though JISAs are opened under a child’s name, an adult needs to take on the role of 'registered contact' on their behalf.
The registered contact for a JISA is the person the provider (such as OneFamily) will contact about the account. They’re also the only person who can instruct the JISA provider on how to manage the account.
A registered contact can be changed, but there can only be one at any time. The first registered contact for a JISA is the person who opened it. Under certain circumstances, this can be changed by filling out an application form.
When the child turns 16, they become the registered contact simply be registering for their own online account. After they’ve done this, the registered contact can’t be changed anymore.
It’s worth noting that, even though only the registered contact can manage a JISA until the child takes over, anyone can pay into the account.
Can parents take money out of their child's junior ISA?
No. The money belongs to the child and can't be accessed until they turn 18.
The only exception is if the child dies or becomes terminally ill. In this situation, please contact us on 0344 8 920 920.
How do I manage my child’s junior ISA (JISA)?
When you open a JISA for your child, you become the registered contact. Here's what that means for you.
- You can set up and manage a Direct Debit
- You can change which fund a stocks and shares junior ISA invests in
If a provider has more than one fund option to choose from, the registered contact is able to change which fund their child's stocks and shares junior ISA invests in. - You can change which provider manages the junior ISA
The registered contact can transfer a junior ISA from one provider to another. - You're responsible for reporting any changes
The registered contact for a JISA is the only person who can let us know about changes, for example if you have a new address. Log into your account to do this.
If a child isn't able to manage their own account once they turn 18, for example if a disability stops them doing so, the existing registered contact might be able to stay on to manage the JISA for them. Contact us to let us know the situation and we’ll be able to support you.
Who is the legal owner of a junior ISA (JISA)?
The legal owner of a JISA is always the child it was opened for.
The registered contact is responsible for managing the JISA and holding it for the child until they can manage it themselves.
What happens to a junior ISA (JISA) if the parent dies?
If the child is 16 or older when the registered contact for their junior ISA passes away, they can take over by creating an online account.
If the person with parental responsibility for a child dies before the child turns 16, the child's new legal guardian can apply to become the registered contact on the child’s JISA. The process will vary between providers, but they’ll usually need to show the death certificate for the previous registered contact.
If the JISA is with OneFamily, contact us to find out more.
The UK government website should be able to guide you if you need to take over as registered contact in any other circumstance.
What would you like to do next?
Find out more about junior ISAs
Our guides contain everything you need to know to about investing for your child's future in a junior ISA.
Transfer to OneFamily
Transferring a child trust fund or junior ISA from another provider to OneFamily is simple and we don't charge you to do so.
Open a OneFamily Junior ISA
Give your child more options when they reach 18 with our straightforward Junior ISA. Simply choose one of our three climate-focused funds to start investing on their behalf.
Our Junior ISA invests in stocks and shares. The value is therefore likely to go up and down over time.
This is normal for this type on investment, but it means there is a risk your child could get back less than has been paid in if they withdraw at a time when the value is lower.
