Hundreds of thousands of young people across Britain could be sitting on unclaimed savings worth thousands of pounds.
HMRC has issued an appeal to 758,000 people aged between 18 and 23 to track down their Child Trust Fund accounts.
The savings pots are worth an average of £2,242 each.
Angela MacDonald, HMRC's second permanent secretary and deputy chief executive, said: "If you're between 18 and 23, you could be sat on a savings payout and not even realise it. Just search 'find my Child Trust Fund' on GOV.UK to find your savings account today."
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Child Trust Funds are tax-free savings accounts set up for every child born between September 1, 2002 and January 2, 2011.
Each account started with a Government contribution of at least £250.
Young people can take charge of their account from age 16, but the funds only become accessible at 18. At that point they can choose to withdraw the money or keep it invested.
With September the most common birth month, thousands more 18-year-olds have just become eligible to access their funds.
Hundreds of thousands of young Britons may unknowingly hold unclaimed savings worth thousands, tucked away in forgotten child trust funds
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Those who know which bank or building society holds their account can contact the provider directly.
For those unsure, the Government has created a free online tool. By searching "find my Child Trust Fund" on GOV.UK, users can locate their account.
Applicants need a National Insurance number and date of birth to complete the search.
If a National Insurance number is not available, it can be found using the HMRC app, which allows users to save it digitally for future use.
More than 563,000 young people have used the tool to track down their Child Trust Fund in the past year
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The process takes around five minutes online, with most people receiving a response within three weeks.
More than 563,000 young people have used the tool to track down their Child Trust Fund in the past year.
September 2024 saw the highest monthly figure, with over 71,000 searches submitted.
The accounts are not held by HMRC but by banks, building societies and other savings providers.
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Financial education experts have welcomed the initiative
| PAFinancial education experts have welcomed the initiative.
Shelley Doorey-Williams, chief executive of the London Foundation for Banking & Finance, said: "It is encouraging to see the Government making efforts to reunite people with money they may not even realise was theirs.
"With an estimated average of £2,242 waiting in unclaimed accounts, this is real money at a crucial time, that can help young people right at the start of their financial lives."
For many facing rising living costs, the funds could help with university expenses, living costs or housing deposits.
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