The Federal Deposit Insurance Corporation insures bank deposits up to $250,000 per depositor, per institution, per ownership category. When an account holder dies, FDIC provides a 6-month grace period during which insurance coverage is maintained as if the person were still alive, giving heirs time to restructure accounts without losing coverage.

Death notification

The FDIC does not receive death reports — notify the bank directly when an account holder dies. The executor or personal representative should contact each FDIC-insured institution where the deceased held accounts. FDIC deposit insurance coverage is maintained for 6 months after death under 12 C.F.R. 330.3(j), providing time to restructure accounts. If a bank fails during this period, the FDIC treats the deceased as still alive for insurance purposes.

Deadline: Restructure accounts within 6 months of death to preserve full FDIC coverage

Survivor benefits

The FDIC offers 3 benefits for surviving family members.

6-Month Grace Period for Deposit Insurance

The FDIC insures a deceased person's accounts as if they were still alive for 6 months after death (12 C.F.R. 330.3(j)). During this grace period, insurance coverage does not change unless accounts are restructured. This allows heirs and estate administrators to reorganize accounts without losing coverage. The grace period will not be applied if it would result in less coverage than would otherwise apply.

Amount: Up to $250,000 per depositor, per institution, per ownership category

Joint Account Coverage After Death

Joint accounts receive $250,000 in FDIC coverage per co-owner. When one co-owner dies, the 6-month grace period preserves the deceased co-owner's share of coverage while the account is administered. After 6 months, the surviving co-owner's coverage reverts to their individual ownership category limits.

Amount: $250,000 per co-owner

POD/Trust Account Coverage Changes

Under the unified trust account rule (12 C.F.R. 330.10, effective April 1, 2024), POD, revocable trust, and irrevocable trust accounts receive $250,000 in coverage per owner per eligible beneficiary, up to $1,250,000 per owner. When the account owner dies, the 6-month grace period applies. When a beneficiary dies, coverage is reduced immediately with no grace period.

Amount: $250,000 per owner per eligible beneficiary (up to $1,250,000 per owner)

When someone dies

Notifying the FDIC after a death

5-step process, 5 required documents, and 3 survivor benefits.

View details →

Frequently asked questions

FDIC insures up to $250,000 per depositor, per FDIC-insured institution, per ownership category. Different ownership categories (single, joint, trust, retirement) are insured separately, so one person can have more than $250,000 in total coverage at the same bank.

Use the FDIC's Electronic Deposit Insurance Estimator (EDIE) at edie.fdic.gov. Enter your bank, account types, and balances to see your exact coverage. You can also verify that a bank is FDIC-insured using BankFind at banks.data.fdic.gov.

FDIC covers checking accounts, savings accounts, money market deposit accounts, certificates of deposit (CDs), and certain prepaid cards. FDIC does not cover stocks, bonds, mutual funds, crypto assets, life insurance policies, annuities, safe deposit box contents, or U.S. Treasury securities, even if purchased at an FDIC-insured bank.

Effective April 1, 2024, the FDIC unified coverage for POD, revocable trust, and irrevocable trust accounts under a single trust account category (12 C.F.R. 330.10). Each owner is insured up to $250,000 per eligible beneficiary, with a maximum of $1,250,000 per owner if five or more beneficiaries are named. Eligible beneficiaries include living natural persons and recognized charitable or non-profit organizations.