Q. If we do Qurbani for our newborn baby, do we get sawaab?
A: The Sunnah sacrifice for a newborn baby is the Aqeeqah. Aqeeqah is the sacrifice of one sheep or one portion of a cow for a girl and two sheep or two portions of a cow for a boy, if one can afford it. If one can only afford one sheep or one portion for a boy, it will suffice.
Qurbani for a minor is allowed on condition that it is not purchased from the wealth of the minor. The child will receive the reward (Thawaab) of it and so will the parents who have been instrumental in this noble act. Anyone who assists/facilitates a good act will receive his share of reward.
Bear I mind that if the parents are by the means of offering Qurbani, they must first make Qurbani on their own names which is compulsory, thereafter for the minor child which is optional. They cannot leave out their own Qurbani and only do for the child.
The Qurbani on the name of the child can be eaten and distributed just as the parents would do with their own Qurbani. (Al Bahrur Raaiq 8:198; Umdatul Qari 16:135, 138; Jaami Ahkaamis Sighaar 2:182)