FDIC Insurance

[SWhiting]

Maybe somebody can answer a couple questions regarding FDIC insurance on bank accounts.

1. Are bank accounts held by an LLC or S Corp insured in the same manner as personal accounts?

2. If you open multiple accounts (personal) in the same bank and put $100K in each account: are you protected for 100K total or the total in each account?

Thanks in advance.

 

[Hurricane]

Check on this at www.fdic.gov. I think the answer is 1) yes and 2) no. They add together all of the accounts registered in the same name for purposes of the $100k limit.

 

[wareco]

http://www.fdic.gov./deposit/deposits/index.html

 

[SWhiting]

Thanks for the links, ETer's.