FDIC Insurance Coverage Basics
The FDIC - short for the Federal Deposit Insurance Corporation - is an independent agency of the United States government. The FDIC protects depositors of insured banks located in the United States against the loss of their deposits if an insured bank fails.

Any person or entity can have FDIC insurance coverage in an insured bank. A person does not have to be a U.S. citizen or resident to have his or her deposits insured by the FDIC.

FDIC insurance is backed by the full faith and credit of the United States government. Since the FDIC began operation in 1934, no depositor has ever lost a penny of FDIC-insured deposits.

What does FDIC deposit insurance cover?
FDIC insurance covers all types of deposits received at an insured bank, including deposits in a checking account, negotiable order of withdrawal (NOW) account, savings account, money market deposit account (MMDA) or time deposit such as a certificate of deposit (CD).

FDIC insurance covers depositors’ accounts at each insured bank, dollar-for-dollar, including principal and any accrued interest through the date of the insured bank’s closing, up to the insurance limit. ...

Download Free eBook: FDIC: Your Insured Deposits

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CONTENTS
2 FDIC Insurance Coverage Basics
3 Ownership Categories
3 Single Accounts
5 Certain Retirement Accounts
7 Joint Accounts
9 Revocable Trust Accounts
13 Irrevocable Trust Accounts
14 Employee Benefit Plan Accounts
16 Corporation/Partnership/ Unincorporated Association Accounts
17 Government Accounts
18 Questions and Answers
Back Cover For More Information from the FDIC

About This Brochure
This brochure describes the rules for FDIC deposit insurance coverage of most account ownership categories used by bank depositors. Its purpose is to help depositors understand the amount of coverage available for their deposit accounts. It is not a legal interpretation of the FDIC’s laws and regulations. For additional or more specific information about FDIC insurance coverage, depositors or their financial or legal advisor may consult the Federal Deposit Insurance Act (12 U.S.C.1811 et seq.) and the FDIC’s regulations relating to insurance coverage described in 12 C.F.R. Part 330.

The information in this brochure is based on FDIC laws and regulations in effect at publication. These rules can be amended and, therefore, some of the information in this brochure may become outdated. The online version of this brochure, available on the FDIC’s website at www.fdic.gov/deposit/deposits, will be updated immediately if rule changes affecting FDIC insurance coverage are made.

Depositors should note that federal law expressly limits the amount of insurance the FDIC can pay to depositors when an insured bank fails, and no representation made by any person or organization can either increase or modify that amount.

This brochure does not provide estate planning advice. Depositors seeking such assistance should contact a financial or legal advisor.

For simplicity, this brochure uses the term “insured bank” to mean any bank or savings association that is insured by the FDIC. To check whether the FDIC insures a specific bank or savings association:
• Call the FDIC toll-free: 1-877-275-3342
• Use FDIC’s “Bank Find” at: www2.fdic.gov/idasp/main_bankfind.asp, or
• Look for the FDIC sign where deposits are received