CONTENT

  DEPARTMENTS



  DETAILS
Legend for Icons
 Article    Q&A

 Podcast  Video

 Blog  Discussions

PDF    Powerpoint
BankingQuestions.com Web

  Home >> Accounts >> Retirement Accounts  
What to do with FDIC Check for Defunct Bank

I had a Roth IRA at a bank that went out of business. I received an FDIC check and have to do something with it before I get penalized. Can I put it into a stock trading account, or is that considered taking ownership?


That would be considered taking ownership unless the account is part of a rollover IRA. Contact a bank or broker offering IRA accounts to find out what your options are and how quickly you must act.

Published on BankingQuestions.com 6/04/09