Things You'll Need

Instructions

Inventory Your Accounts

1

Gather the most recent statements for all insured deposit accounts, including checking, savings, retirement and revocable trust. Nearly all banks carry FDIC insurance, but not all types of deposit accounts are insured. You can find out if an account is insured by using the tools at fdic.gov/deposit.
2

Determine whether any insured deposit account contains more than $250,000 (or $500,000 for a joint account held by two people). The FDIC offers a deposit insurance estimator tool at fdic.gov/edie.
3

Decide where to move the surplus if any deposit account contains more than the insured amount.

Move Your Surplus

1

Decide what type of account to open so you can deposit the surplus.
2

Open a new account. This can be a different type of deposit account at the same bank, or the same type of account at a different bank. For instance, if you don't have an IRA at your current bank, you can transfer the surplus from an existing savings account to a new IRA account. The new account will also be insured up to $250,000.
3

Deposit any surplus in the new deposit account.