How to File an FDIC Claim If Your Bank Fails

Step-by-step guide to filing an FDIC claim when your bank fails, including timelines and what to expect during the process.

  1. Check if you need to file a claim at all. Most FDIC-insured deposits under $250,000 per depositor, per bank, per ownership category get returned automatically when the FDIC takes over a failed bank. You'll typically receive a check or have funds transferred to a new institution within 1-3 business days. Only file a claim if you have uninsured deposits over the limit, complex trust accounts, or haven't received your insured funds within a week.
  2. Gather your account documentation. Collect recent bank statements, account agreements, certificates of deposit, and any trust documents or joint account paperwork. The FDIC will use these to verify your deposits and determine coverage limits. Print or save digital copies since you may not be able to access online banking after the failure.
  3. Contact the FDIC claims agent. Call the toll-free number the FDIC sets up for each bank failure, or visit their website for claim forms specific to your failed bank. The FDIC typically establishes a claims process within 24-48 hours of taking over a bank. You can also visit the failed bank's branches, which often stay open under FDIC management during the transition.
  4. Complete and submit your claim form. Fill out the FDIC's Proof of Claim form with details about your uninsured deposits, including account numbers, balances, and supporting documentation. Submit within 18 months of the bank failure date to preserve your claim rights. For deposits over $250,000, you'll become a creditor of the failed bank and may recover some funds through the liquidation process.
  5. Track your claim and expect realistic timelines. The FDIC will acknowledge your claim within 30 days and provide status updates. Insured amounts typically arrive within days, but uninsured deposit recoveries can take months or years depending on the failed bank's assets. Recovery rates for uninsured deposits historically average 72%, but vary widely by institution.