Information about Form 5498, IRA Contribution Information (Info Copy Only), including recent updates, related forms and instructions on how to file. File this form for each person for whom you maintained any individual retirement arrangement (IRA), including a deemed IRA under section 408(q).
You can expect to receive IRS Form 5498 if you made contributions to an IRA (Individual Retirement Arrangement) in the preceding tax year. The "custodian" of your IRA, typically the bank or other institution that manages your account, will mail a copy of this form to both you and the Internal Revenue Service.
Depending on the type of IRA you have, you may need Form 5498 to report IRA contribution deductions on your tax return. Form 5498: IRA Contributions Information reports your IRA contributions to the IRS. Your IRA trustee or issuer—not you—is required to file this form with the IRS by May 31.
Instructions for Participant The information on Form 5498 is submitted to the IRS by the trustee or issuer of your individual retirement arrangement (IRA) to report contributions, including any catch-up
Form 5498 tells you—and the Internal Revenue Service—how much you contributed to retirement savings during the tax year. You'll most likely receive a copy of Form 5498 from the financial institution sometime after the first of the year if you have an IRA or another type of tax-preferred savings account.
If you have some type of IRA, the financial institution acting as custodian or trustee must give you – and the IRS – an information return each year. The form, called IRS Form 5498, IRA ...
In order to include contributions made between January 1 and April 15 for the prior year, the HSA custodian will wait until after April 15 to complete the forms. IRS Form 5498-SA must be provided by May 31. If you would like to learn more about IRS Form 5498-sa, please visit IRS.gov.
Distributions and Contributions. The trustee of your IRA account must mail you a copy of Form 5498 by May 31 each year, so that the form includes contributions you made before the income tax deadline of April 15 that apply to the previous year's tax return.
The 5498-SA tax form is typically referred to as 5498 for short and is a government document. This form, as Fidelity Investments explains, “summarizes contributions to and the fair market value of” your Health Savings Account. The 5498-SA form also tracks contributions made to Medicare Advantage medical savings accounts or Archer medical ...
Form 5498-SA is an informational form that reports contributions to your Health Savings Account (HSA) or Medical Savings Account (MSA). You don't have to enter this form into TurboTax, but you should store it with your records.