Is there a deadline to claim? What if I never claim it?

There’s no deadline, and the money isn’t lost or returned if you wait. An unclaimed account stays open and any money already in it stays invested, but no one can see the balance or history until a parent or guardian claims it, and family, friends and employers can only contribute after it’s claimed. When your child turns 18, the account becomes a traditional IRA in their name and they can take control after verifying their identity. The federal $1,000 is separate: it has to be elected with Form 4547.