How are solely owned corporations classified for FDIC insurance purposes?
September 13, 2008 2:48 PM Subscribe
FDIC Bank Coverage filter: I am the sole owner and president of a corporation. If I do my personal banking at the same bank as my corporate accounts are both accounts covered by the FDIC insurance or is just one covered as I am technically "one depositor"?
posted by sharkfu to work & money (2 answers total)
My guess would be that I am one depositor and the corporation is a separate different depositor (which happens to be owned by me) but I wouldn't want to run into a legal snafu if my bank happened to fail and the FDIC saw things differently.
Any insight would be greatly appreciated.