(Cross-post from my other blog, Nonprofit Update.)
I had thought about writing a short post about the end of unlimited insurance on non-interest bearing checking accounts. Since I’ve now seen two articles talking about going back to the $250,000 limit, it’s better to point you to other bloggers.
Check out:
- Nonprofit GPS – Unlimited FDIC Coverage Eliminated in 2013
- CPA-Scribo – Unlimited FDIC Coverage Ceases
If you are blessed to have over $250K sitting in a checking account, consider whether you want to spread out the money.
If you are an auditor, think about what this does to financial statement disclosures for your clients.