Regulation 19 Closure of a childcare account

(1)

A childcare account must be closed if—

(a)

two years have elapsed since the end of the last entitlement period for which there was a valid declaration of eligibility; or

(b)

one year has elapsed since the end of the entitlement period during which the child ceased to be a qualifying child.

(2)

At the time a childcare account is closed, whether under paragraph (1) or otherwise—

(a)

the top-up element of the funds remaining in the account at that time, calculated in accordance with section 21 (calculating the top-up element of payments etc), must be paid to HMRC; and

(b)

the relevant percentage of the total funds in the account at that time, calculated in accordance with section 22 (withdrawals), must be returned to the account-holder.

(3)

Where an account-holder has died, the relevant percentage to be returned under paragraph (2)(b) must be paid to the account-holder's personal representatives.