Each depositor insured to at least $250,000 per insured bank

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Important Update: Changes in FDIC Deposit Insurance Coverage

The FDIC deposit insurance rules have undergone a series of changes starting in the fall of 2008. As a result, certain previously published information related to FDIC insurance coverage may not reflect the current rules. For details about the changes, visit Changes in FDIC Deposit Insurance Coverage. For more information about FDIC insurance, go to www.fdic.gov/deposit/deposits/index.html or call toll-free 1-877-ASK-FDIC (1-877-275-3342). For the hearing-impaired, the number is 1-800-925-4618.

Spring 2006

FDIC Insurance: What's New, What's Not

What's New: As reported in the April 2006 FDIC Consumer News Special Bulletin, FDIC insurance for certain retirement deposits has increased to $250,000 from $100,000 previously. The higher coverage, the result of a new law, applies to the combined total that a consumer has at any one banking institution in Individual Retirement Accounts (both traditional and Roth IRAs), self-directed Keogh accounts, "457 Plan" accounts for state government employees, and employer-sponsored "defined contribution plan" accounts that are self-directed, which are primarily 401(k) accounts. In general, self-directed means that the consumer chooses how and where the money is deposited.

What's Not: The basic insurance coverage for other deposit accounts remains at $100,000 per depositor. However, as before, there are ways to qualify for more than the basic coverage.

To learn more, see the Special Bulletin online at www.fdic.gov/consumernews or consult the FDIC.

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Last Updated 05/09/2006 communications@fdic.gov