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FDIC Deposit Insurance Simplification Fact Sheet
The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government
that protects the funds depositors place in FDIC-insured institutions. FDIC deposit insurance is backed by the
full faith and credit of the United States government. Since the FDIC was established in 1933, no depositor has
ever lost a single penny of FDIC-insured funds.
There is no need for depositors to apply for FDIC insurance or even to request it; coverage is automatic.
FDIC insurance covers funds in deposit accounts, including checking and savings accounts, money market
deposit accounts and certificates of deposit. FDIC insurance does not cover other financial products that insured
banks may offer such as stocks, bonds, mutual fund shares, life insurance policies, annuities or municipal
securities.
The standard insurance amount currently is $250,000 per depositor.
To ensure funds are fully protected, depositors should understand their coverage limits. The FDIC provides
separate coverage for deposits held in different account ownership categories. The coverage limits shown in the
chart below refer to the total of all deposits that an accountholder has in the same ownership categories at each
FDIC-insured institution. The chart below assumes that all FDIC requirements are met. (For details on the
requirements, go to www.fdic.gov/deposit/deposits).
FDIC Deposit Insurance Coverage Limits
| Single Accounts (owned by one person) |
$250,000 per owner |
| Joint Accounts (two or more persons) |
$250,000 per co-owner |
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Certain Retirement Accounts (includes IRAs) |
$250,000 per owner |
| Revocable Trust Accounts |
$250,000 per owner per
beneficiary up to 5 beneficiaries (more coverage is available
with 6 or more beneficiaries subject to specific limitations more beneficiaries subject to
specific limitations and requirements) |
| Corporation, Partnership and Unincorporated Association Accounts |
$250,000 per corporation, partnership or unincorporated association |
| Irrevocable Trust Accounts |
$250,000 for the
non-contingent, ascertainable interest of each beneficiary |
| Employee Benefit Plan Accounts |
$250,000 for the non-contingent, ascertainable interest of each
plan participant |
| Government Accounts |
$250,000 per official custodian |
You can calculate your insurance coverage using the FDIC's Electronic
Deposit Insurance Estimator at www.myfdicinsurance.gov. For questions about FDIC coverage, call toll-free 1-877-ASK-FDIC or ask
a representative at your bank.
Unlimited deposit insurance for non-interest-bearing transaction accounts (as defined in 12 C.F.R. Part 370) at
institutions participating in the FDIC’s Transaction Account Guarantee Program is available through December
31, 2010.
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