the previous post, we took a look at three of the more common types of
deposits eligible for FDIC deposit insurance coverage. Today we’ll look
at three of the less commonly used types of accounts the FDIC will
insure. Keep in mind that the listed amounts covered are only valid
through the end of this year. With FDIC insurance limits set to drop on
December 31st, 2013, it is important to plan ahead to make sure your
deposits have the least possible exposure to risk.

Employee Benefit Plan Accounts
– If you have a pension plan or a defined benefits account with your
employer where you cannot actively managed your funds, you may also be
entitled to FDIC coverage if certain criteria are met. In this case,
your ownership in any deposits placed by your plan’s administrator may
be eligible for FDIC coverage.

Revocable Trust Accounts
– These are used to leave funds for beneficiaries once the owner of the
trust is deceased. With these accounts, the FDIC will provide up to the
$250,000 limit for each owner of the account as well as each
beneficiary. So if a father was to set up a trust account for his two
children, the entire insurable amount would be $750,000, $250,000 times
the three people listed on the account.

Irrevocable Trust Accounts
– An irrevocable trust account is when the original owner of the funds
gives up ownership to and control of the assets. In typical cases,
irrevocable trust accounts set up at FDIC-insured institutions are
insured up to $250,000.

Government Accounts
– These accounts, insured at $250,000 per official custodian (more
coverage available subject to specific conditions) include those owned

  • The United States, including federal agencies

  • Any
    state, county, municipality (or a political subdivision of any state,
    county, or municipality), the District of Columbia, Puerto Rico and
    other government possessions and territories

  • An Indian tribe

FDIC provides separate coverage for deposits held in different account
ownership categories. Depositors may qualify for more coverage if they
have funds in different ownership categories and all FDIC requirements
are met. (For details on the requirements, check out

To calculate your deposit insurance coverage, you can use the the FDIC-provided calculator: