This paper proposes a fault tolerant ac-ac single-phase converter The proposed system provide compensation for open circuit and short circuit failures occurring in the converter power devices. The fault compensation is achieved by reconfiguring the power converter topology with the help of isolating and connecting devices. These devices are used to redefine the post-fault converter topology. A control strategy is proposed to warrant the same rating with the post fault-configuration. The system allows for continuous free operation of the converter Simulated and experimental results demonstrate the validity of the proposed systems.