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When do I need to change the Child Savings Account (CSA) joint account holder and Child Development Account (CDA) trustee?

Updated by MSF
You will need to change the Child Development Account trustee (CDA) trustee, if: ' the trustee is bankrupt; ' the trustee who is the parent of the child, does not have the care and control of the child for divorce cases; or ' the trustee has passed away. If you are the existing CDA trustee, you can change the CDA trustee by using your internet banking app or the bank's online portal where your account is held. Alternatively the child’s parent who has been given care and control of the child can submit a request through go.gov.sg/contact-bb. If the CDA trustee has passed away, the bank will reach out to the surviving spouse who has care and control of the child for change of CDA trustee. A new Child Savings Account (CSA) will be automatically opened by the CDA bank under the new CDA trustee. Any remaining Baby Bonus Cash Gift will be paid into the new CSA opened for the new CDA trustee.

Topics:

Baby Bonus (BB)Baby Bonus Scheme

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