Skip to content

FDIC Coverage For Non-Profit Business Trust Acct.

Answered by: 

How much does FDIC cover for a non profit (church) business trust account?

It depends on the nature of the trust account you've asked about. If it's simply funds the church is setting aside in a separate account for a designated purpose (of the church), it's included in the total of all other funds of the church on deposit at the same bank, and insured to the current SMDIA (currently $250,000). On the other hand, if the funds are held by the church in trust for one or more third parties, they may be eligible for "pass through" coverage up to $250,000 per beneficiary.

For a definite answer, you have to ask the FDIC, who will want very detailed information about the account and its use.

First published on 11/24/2014

Filed under: 
Filed under operations as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics