A memory device is provided that in one embodiment includes a trench capacitor located in a semiconductor substrate including an outer electrode provided by the semiconductor substrate, an inner electrode provided by a conductive fill material, and a node dielectric layer located between the outer electrode and the inner electrode; and a semiconductor device positioned centrally over the trench capacitor. The semiconductor device includes a source region, a drain region, and a gate structure, in which the semiconductor device is formed on a semiconductor layer that is separated from the semiconductor substrate by a dielectric layer. A first contact is present extending from an upper surface of the semiconductor layer into electrical contact with the semiconductor substrate, and a second contact from the drain region of the semiconductor device in electrical contact to the conductive material within the at least one trench.