If entering your information online makes you nervous, a couple of rules to remember for business FDIC coverage:
- FDIC offers coverage of $100,000 per person, per entity
- LLC's and Corporations are separate entities
- A sole-proprietorship is not a separate entity so business accounts and personal accounts are added together and only insured to $100,000
- A corporation or LLC with several accounts at the same bank is only insured to the $100,000 on all the accounts together.
This information is by no means comprehensive. I am not an attorney or accountant. I just wanted to give some preliminary guidance. If your organization has close to $100,000 in combined deposits at a bank it's wise to consult your accountant and consider opening up another account at a different bank.