Hi! If the child is a minor, then the interest should be reported on the parent's tax return.
Otherwise, it depends on whether the child has control over the funds or if the parents have control and use the funds for the child. If the child has control, the interest would generally be reported on the child's tax return. If the parents have control, it might be reported on the parent's tax return. It is advisable to consult the CRA guidelines or a tax professional for specific circumstances.