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Bipolar disorder is characterized by extreme mood fluctuations that may create emotionally inconsistent caregiving environments for children. Although children of caregivers with bipolar disorder are at elevated risk for psychosocial difficulties, less is known about how parental bipolar symptoms (PBSs) relate specifically to identity development. The present study investigated associations between perceived PBSs and identity outcomes among emerging adults, examining parental attachment as a potential mediator. College students (N = 399) completed an anonymous online survey assessing identity development, attachment to parents, and perception of PBSs. PBSs were positively associated with identity distress, disturbed identity, and lack of identity, and negatively associated with identity consolidation. Mediation analyses indicated that parental attachment partially or fully mediated the relationships between PBSs and each identity variable, suggesting that higher levels of PBSs were associated with less secure attachment, which in turn were linked to greater identity difficulties. These findings highlight the role of parental mental health and attachment in shaping identity development and underscore the importance of accessible mental health care for youth navigating identity formation in the context of caregiver psychopathology. Clinical implications and future directions are discussed.