The subtropical storm tracked east-southeastward and continued to organize, and by late on April 20 an upper-level warm core was present over the system. Based on its organization, Ana is estimated to have become a tropical storm by 0000 UTC on April 21. Upon becoming a tropical storm, Ana attained a peak intensity of 60 mph (95 km/h), which was based on estimates from the Hebert-Poteat technique and data from QuikSCAT. Shortly thereafter, it made its closest point of approach to Bermuda, when it passed about 130 miles (210 km) southwest of the island. Operationally, the cyclone was first classified by the National Hurricane Center around this time, when it was considered a subtropical cyclone. Strong upper-level wind shear removed much of the convection, though a small area of thunderstorms persisted near the center. The storm became completely separated from the upper-level system, and the cyclone re-organized, developing an eye feature late on April 21. Embedded within the flow of a cyclone to its north, Ana continued eastward, and early on April 22 the wind shear again removed the convection from the center. Convection waxed and waned throughout the day, and by April 23 the circulation had deteriorated in organization. After turning to the northeast, the circulation center merged with an approaching cold front on April 24, and Tropical Storm Ana completed the transition into an extratropical cyclone. The extratropical storm accelerated east-northeastward before losing its identity within the frontal zone on April 27 southeast of the Azores.
Prior to the development of Ana, the government of Bermuda issued a gale warning for the island. Upon its classification by the National Hurricane Center, a tropical storm warning was issued for Bermuda. Meandering near the island for several days while developing, the storm dropped 2.63 inches (67 mm) of precipitation in a six-day period at the Bermuda International Airport. Winds on the island did not reach tropical storm force. Swells from the storm impacted the coast of Florida. The combination of the swells and an outgoing tide caused a boat to capsize in Jupiter Inlet on April 20; two of its occupants drowned, and the other two were rescued. As an extratropical storm, the remnants of Ana dropped 0.87 inches (22 mm) of precipitation in the city of Ponta Delgada in the Azores. Moisture from the remnants of Ana also produced beneficial rainfall in the United Kingdom. Two ships recorded tropical storm force winds in association with Ana; the Atlantic Forest recorded 51 mph (82 km/h) and a pressure of 998 mbar on April 22, and the Rosa Delmas reported winds of 47 mph (76 km/h) on April 23.
On April 20, Ana became the second subtropical cyclone on record in the Atlantic basin in the month of April, after a subtropical storm in 1992. After attaining tropical characteristics, it became the first tropical storm on record in the month of April.