TAILIEUCHUNG - Your Insured Deposits: Federal Deposit Insurance Corporation

One such SAR described a man who purchased a $ million annuity with a check from a corporation unknown to the filer, claiming the funds were lottery winnings. He then withdrew more than $ million within nine months, despite a ten per- cent penalty, claiming he wanted the money to fund a business acquisition. Another filing described a business owner who opened a pair of variable annuities totaling over $550,000 in February 2006, and added over $720,000 to the annuities before the end of June 2006. From February to July 2006, the annuity owner made almost $550,000 in surrenders, incurring. | Updated 2011 Your Insured Deposits Federal Deposit Insurance Corporation Important Information About This Brochure__ Your Insured Deposits is a comprehensive description of FDIC deposit insurance coverage for the most common account ownership categories. This brochure is not intended as a legal interpretation of the FDIC s laws and regulations. For additional or more specific information about FDIC insurance coverage consult the Federal Deposit Insurance Act 12 et seq. and the FDIC s regulations relating to insurance coverage described in 12 . Part 330. The information in this brochure is based on FDIC laws and regulations in effect at publication. These rules can be amended and therefore some of the information in this brochure may become outdated. The online version of this brochure available on the FDIC s website at deposit deposits will be updated immediately if rule changes affecting FDIC insurance coverage are made. Depositors should note that federal law expressly limits the amount of insurance the FDIC can pay to depositors when an insured bank fails and no representation made by any person or organization can either increase or modify that amount. This brochure is not intended to provide estate planning advice. Depositors seeking such assistance should contact a financial or legal advisor. For simplicity this brochure uses the term insured bank to mean any bank or savings association that is insured by the FDIC. To check whether the FDIC insures a specific bank or savings association Call the FDIC toll-free 1-877-275-3342 Use FDIC s Bank Find at idasp Look for the FDIC sign where deposits are received Table of Contents 2 FDIC Insurance Coverage Basics 3 Temporary Unlimited Coverage for Noninterest-bearing Transaction Accounts 4 Ownership Categories 4 Single Accounts 5 Certain Retirement Accounts 7 Joint Accounts 9 Revocable Trust Accounts 14 Irrevocable Trust Accounts 15 .

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