A node dielectric and a conductive trench fill region filling a deep trench are recessed to a depth that is substantially coplanar with a top surface of a semiconductor-on-insulator (SOI) layer. A shallow trench isolation portion is formed on one side of an upper portion of the deep trench, while the other side of the upper portion of the deep trench provides an exposed surface of a semiconductor material of the conductive fill region. A selective epitaxy process is performed to deposit a raised source region and a raised strap region. The raised source region is formed directly on a planar source region within the SOI layer, and the raised strap region is formed directly on the conductive fill region. The raised strap region contacts the raised source region to provide an electrically conductive path between the planar source region and the conductive fill region.