Help needed please

jonnydeppiwish!

Morning

I’ve made a mistake by opening an ISA for my grandson with HL and have now found out that I shouldn’t have opened one - should have been with his parents. Is it possible to change this simple?

Thanks in advance!

flaneurs_lobster

Are you inside their cooling-off period (which I think is 14 days)?

Almost certainly easier to cancel and start again rather than amending details.

eskbanker

This is a scenario envisaged in the Junior ISA guidance and can be corrected if a parent is willing to take it on:

JISA opened and the manager is then informed that the registered contact does not have parental responsibility for the child

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

If confirmation is received, 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. The manager does not need the agreement of the existing registered contact and the application should be treated as if the existing registered contact cannot be contacted (see change to a registered contact – existing registered contact).

If confirmation that the declaration is invalid is received, 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/repair-a-junior-isa-and-manage-account-holders-subscriptions#management-of-the-jisa