Help

To calculate coverage for Personal Accounts

To calculate coverage for Business Accounts

To calculate coverage for Government Accounts

For all Accounts

FDIC insures all types of deposit accounts including checking accounts, savings accounts, money market deposit accounts (MMDAs) and certificates of deposit (CDs). FDIC does not insure other types of investments such as stocks, mutual funds or annuities even if they were purchased from a bank or one of its affiliates. Therefore EDIE should not be used for investment products that are not deposits. If the accounts entered into EDIE are not deposits in an FDIC-insured bank, the coverage information provided in the EDIE report does not apply.

EDIE calculates the insurance coverage of single accounts, joint accounts with up to 10 owners, revocable trust accounts (i.e., POD/ITF and living trust accounts) with up to 3 owners and 20 beneficiaries, irrevocable trust accounts, IRAs, business accounts, and government accounts. It can process account groups with up to 50 accounts at a single bank.

EDIE cannot calculate the insurance coverage of employee benefit plan accounts or mortgage servicing accounts. Contact the FDIC at 1-877-275-3342 for assistance in determining the coverage of these account ownership types.

If you are not sure what information to enter into a given field, rolling your cursor over the field name or the 'What's This?' link will bring up help text to guide you.

If you do not respond to a question, or enter information incorrectly, a red X will appear to the right of the field. Rolling your mouse over the X will bring up text that will explain what you need to correct.

To calculate coverage for Personal Accounts:

Step 1: Enter the name of your bank, so you will know which bank this report references. You can use the actual name of the bank (e.g., Anytown Bank) or use another identifier (e.g., Bank #1). You can also use Bank Locator to both confirm the insured status of your bank as well as to fill in this field.

Step 2: Identify the account as a personal, business, or government account using the radio buttons provided.

Step 3: Identify the ownership type for this account. If the account names beneficiaries and is not part of a formal trust, use POD/ITF. Use Living Trust when the account is held in the name of a formal revocable trust (also called a family trust) or if the account names the owner’s revocable trust as the beneficiary. IRA includes all types of IRAs (traditional, Roth and Simple IRAs).

Important: Accounts that name a living or revocable trust as the beneficiary should be entered as if the account were held in the name of the revocable trust. The owner(s) (grantor/settlor/trustor) of the trust should be identified as the owner(s) of the account, and the actual people or entities who receive trust assets after the death of the owner should be identified as beneficiaries of the account. You can put the name of the trust in the Account Nickname field.

Step 4: Enter the name of the owner of this account. If this account has more than one owner, enter each owner's name separately. If this is a living trust account, enter the name of the person who is the owner (i.e., the grantor/settlor/trustor) of the trust. If the trust has more than one owner, enter each owner's name separately. Do NOT enter the trust name as the owner. Do not enter any trustees unless they are also owners of the trust.

If you do not wish to use full names, you can use first names, relationships or other designations to identify the owner (e.g., George, Gracie, Husband, Wife, Owner 1, Owner 2).

Important: When entering the names of account owners, you must always use the identical name for the same person. Restyling a person's name (e.g., Mary Jane Smith on one account, M.J. Smith on another account) will result in an inaccurate deposit insurance report.

Step 5: Respond to the question "Is the owner living?" for each owner entered using the radio buttons provided.

If the account is a POD/ITF or living trust account, follow Steps 6, 7 and 8. Otherwise, skip to Step 12.

Step 6: Enter the name of the beneficiary(ies) of this POD/ITF or living trust account. If this account has more than one beneficiary, enter each beneficiary's name separately.

If you do not wish to use full names, you can use first names, relationships or other designations (e.g., George, Gracie, Husband, Wife, Child 1, Beneficiary 1, Beneficiary 2).

Important: When entering the names of beneficiaries, you must always use the identical name for the same person or organization. Restyling a person's name (e.g., using Mary Jane Smith on one account, M.J. Smith on another account) will result in an inaccurate deposit insurance report.

If an account beneficiary is a revocable (living/family) trust, see Step 3 above for how to correctly enter the information.

Step 7: Identify the type of beneficiary using the pull-down menu provided.

Step 8: If the beneficiary is a person, respond to the question "Is the beneficiary living?" for each beneficiary entered using the radio buttons provided.

If the beneficiary is a charity or non-profit organization, respond to the question "Is this charity/non-profit organization recognized by the IRS?"

Step 9: Enter an account nickname. The account nickname will help you identify your accounts on the report. Examples of account nicknames include Family Trust, CD#1, or Mary's Roth IRA.

Step 10: Enter a balance for this account using whole numbers. Do not use any non-numeric characters.

Step 11: Identify the deposit type using the pull-down menu provided. Checking accounts include Demand Deposit Accounts (DDAs) and any transaction account that has unlimited withdrawals where the bank has not retained the right to require advance notice of an intended withdrawal. NOW Accounts are deposit accounts which the depository institution has reserved the right to require at least seven days written notice prior to withdrawal or transfer of any funds in the account. While NOW accounts have similar features as demand deposit accounts, they are a type of a savings account. Interest-bearing accounts include interest-bearing checking/demand deposit accounts, Money Market Deposit Accounts (MMDAs), savings accounts, and Certificates of Deposit (CDs).

Step 12: Click on "Add to Report". Repeat above steps for all personal accounts you hold at this bank, then see "For All Accounts" section below.

To calculate coverage for Business Accounts:

Step 1: Enter the name of your bank, so you will know which bank this report references. You can use the actual name of the bank (e.g., Anytown Bank) or use another identifier (e.g., Bank #1). You can also use Bank Locator to both confirm the insured status of your bank as well as to fill in this field.

Step 2: Identify the account as a personal, business, or government account using the radio buttons provided.

Step 3: Indicate whether the account is held in the name of a sole proprietorship, irrevocable trust, public unit, or corporation, partnership, or organization using the radio buttons provided. Sole proprietorship and irrevocable trust deposits are insured as the personal accounts, so you will be redirected to the Personal Accounts screen if you select either of those. If the account holder is a public unit (such as a city, county, or school district) you will be redirected to the Government Accounts screen.

Step 4: Enter the name of the Business/Organization that owns this account. Do not use the names of the business owners, partners, or signatories of the account.

Step 5: Enter the EIN/TIN used by this business. This is the number that the business or organization uses to file its taxes or tax-exempt forms. Social Security Numbers (SSNs) should not be entered here. Businesses that use SSNs are sole proprietorships, and so those accounts should not be entered here.

Step 6: Enter an Account Nickname. The account nickname will help you identify your accounts on the report. Examples of account nicknames include Operating Account, Payroll Account, CD#1.

Step 7: Enter a balance for this account using whole numbers. Do not use dollar signs or any other non-numeric characters.

Step 8: Identify the deposit type using the pull-down menu provided. Checking accounts include Demand Deposit Accounts (DDAs) and any transaction account that has unlimited withdrawals where the bank has not retained the right to require advance notice of an intended withdrawal. NOW Accounts are deposit accounts which the depository institution has reserved the right to require at least seven days written notice prior to withdrawal or transfer of any funds in the account. While NOW accounts have similar features as demand deposit accounts, they are a type of a savings account. Interest-bearing accounts include interest-bearing checking/demand deposit accounts, Money Market Deposit Accounts (MMDAs), savings accounts, and Certificates of Deposit (CDs).

Step 9: Click on "Add to Report". Repeat above steps for all Business accounts you hold at this bank, then see "For All Accounts" section below.

To calculate coverage for Government Accounts:

Step 1: Enter the name of your bank, so you will know which bank this report references. You can use the actual name of the bank (e.g., Anytown Bank) or use another identifier (e.g., Bank #1). You can also use Bank Locator to both confirm the insured status of your bank as well as to fill in this field.

Step 2: Identify the account as a personal, business, or government account using the radio buttons provided.

Step 3: Enter the name of the account holder. This is the person who can transact business on the account. This may or may not be the Official Custodian.

Step 4: An official custodian is an officer, employee, or agent of a public unit having official custody of public funds and lawfully depositing the funds in an insured institution. In order to qualify as an official custodian, a person must have plenary authority - including control - over the funds. Control of public funds includes possession as well as the authority to establish accounts in insured depository institutions and to make deposits, withdrawals, and disbursements. This may be a different person from the accountholder. If the Official Custodian is the only signatory on the account, enter the same name in the two fields.

Step 5: Confirm that the person named in the Official Custodian field meets the FDIC's requirements of an Official Custodian. The requirements are found via the help text.

Step 6: Enter the name of the public unit (e.g. Bowery County, Stumptown Fire Department, City of Southfield)

Step 7: Confirm that the public unit named meets the FDIC's requirements as a public unit or political subdivision.

Step 8: Indicate whether the bank is located in the same state as the public unit.

Step 9: Enter the EIN/TIN number the public unit uses for tax reporting and employee payroll.

Step 10: Enter an account nickname. The account nickname will help you identify your accounts on the report. Examples of account nicknames include Operating Account, Payroll Account, CD#1.

Step 11: Enter a balance for this account using whole numbers. Do not use dollar signs or any other non-numeric characters.

Step 12: Identify the deposit type using the pull-down menu provided. Checking accounts include Demand Deposit Accounts (DDAs) and any transaction account that has unlimited withdrawals where the bank has not retained the right to require advance notice of an intended withdrawal. NOW Accounts are deposit accounts which the depository institution has reserved the right to require at least seven days written notice prior to withdrawal or transfer of any funds in the account. While NOW accounts have similar features as demand deposit accounts, they are a type of a savings account. Interest-bearing accounts include interest-bearing checking/demand deposit accounts, Money Market Deposit Accounts (MMDAs), savings accounts, and Certificates of Deposit (CDs).

Step 13: Click on "Add to Report". Repeat above steps for all Government accounts you hold at this bank, then see "For All Accounts" section below.

For all Accounts:

When you have finished entering information on all of your accounts at one bank, check to make sure you've included everything, and then click on the "Calculate" button. If you edit or delete an account from your report, you will need to recalculate your coverage, again using the "Calculate" button.

If you want a copy of your EDIE report for future reference, click on the "Print Report" button. This will generate a hard copy record of your EDIE report for this bank.