JISA opened by grandparent

Hammer_Time

In 2013 I opened a JISA for my grandson, however I have just found out it should have been opened by one of his parents. Could I transfer the registered contact to my daughter? If so how?
Thanks for all your help.
 

eskbanker

I'd have thought that highlighting the issue to the provider may result in the account being voided as invalid and closed, so unless there's a reason to change anything, you might be better to let sleeping dogs lie....

Edit: better answer below!

kuratowski

According to the government guidance (pasted below) this should be ok, you should be able to contact the provider and get the parent to take over as the "registered contact":

JISA is opened and you’re informed that the registered contact doesn’t have parental responsibility for the child

You should seek confirmation from the existing registered contact that the account opening declaration was invalid.

If you receive confirmation, or the existing registered contact fails to respond, the account can continue if someone with parental responsibility steps forward and completes an application to be registered contact. You don’t need the agreement of the existing registered contact and the application should be treated as if the existing registered contact can’t be contacted.

If you receive confirmation that the declaration is invalid, but no one with parental responsibility steps forward, the JISA wrapper should be removed from the account.

If the existing registered contact fails to respond, but no one with parental responsibility steps forward, the account must be flagged so that no further subscriptions or management instructions can be accepted.

https://www.gov.uk/guidance/junior-individual-savings-accounts-for-managers-jisas-managing-jisas