Inherited IRA’s and FDIC limits
If an individual has inherited bank IRA’s from both of her parents with a balance of $150,000 each and has their own bank IRA of $150,000, are they all covered by the $250,000 FDIC limit, or do you aggregate them? I suspect they are all titled differently and would all fall under seperate coverage even though the sibling is the owner/beneficiary of all of them. Can anyone, confirm or contradict this?
Permalink Submitted by Clyde Wolf on Wed, 2008-09-10 01:06
Peter.Welsh,
You should read this at the FDIC site: http://www.fdic.gov/deposit/Deposits/insured/ownership2.html#retirement
My opinion is the largest amount FDIC insured is $250,000 for this individual. The 3 accounts amounting to $450,000 leave $200,000 outside of FDIC coverage.