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Is an IRA Insured?

Individual retirement accounts (IRAs) are tax-sheltered and can be invested in a variety of accounts, including certificates of deposit, money market deposit accounts, mutual funds, stocks and bonds.

  1. Are IRAs Insured?

    • Whether an IRA is covered by the Federal Deposit Insurance Corporation (FDIC) depends on what the money is invested in. If it is invested at a financial institution in an FDIC-insured account, such as a certificate of deposit or money market deposit account, then it is covered.

    What Is the FDIC?

    • The FDIC insures your accounts at a financial institution in case that company goes bankrupt.

    How Much Is Covered?

    • The FDIC covers up to $250,000 per person at each financial institution. For example, if you had $200,000 in certificates of deposit at Bank of America and $200,000 at Charles Schwab, all would be covered.

    What Is Not Insured?

    • Investments such as stocks, bonds and mutual funds are not covered by the FDIC due to their speculative nature.

    Can Part of My IRA Be Covered?

    • FDIC insurance is not all or nothing when it comes to IRAs. If part of your IRA is invested in accounts that are covered, that portion of your IRA will be insured.

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