Get the free Form 5498
Show details
This form is used to report contributions and the fair market value of an individual's retirement account (IRA) to the Internal Revenue Service (IRS). It includes various contributions such as traditional
We are not affiliated with any brand or entity on this form
Get, Create, Make and Sign form 5498
Edit your form 5498 form online
Type text, complete fillable fields, insert images, highlight or blackout data for discretion, add comments, and more.
Add your legally-binding signature
Draw or type your signature, upload a signature image, or capture it with your digital camera.
Share your form instantly
Email, fax, or share your form 5498 form via URL. You can also download, print, or export forms to your preferred cloud storage service.
Editing form 5498 online
Follow the steps below to use a professional PDF editor:
1
Register the account. Begin by clicking Start Free Trial and create a profile if you are a new user.
2
Prepare a file. Use the Add New button to start a new project. Then, using your device, upload your file to the system by importing it from internal mail, the cloud, or adding its URL.
3
Edit form 5498. Rearrange and rotate pages, add new and changed texts, add new objects, and use other useful tools. When you're done, click Done. You can use the Documents tab to merge, split, lock, or unlock your files.
4
Save your file. Choose it from the list of records. Then, shift the pointer to the right toolbar and select one of the several exporting methods: save it in multiple formats, download it as a PDF, email it, or save it to the cloud.
With pdfFiller, dealing with documents is always straightforward. Now is the time to try it!
Uncompromising security for your PDF editing and eSignature needs
Your private information is safe with pdfFiller. We employ end-to-end encryption, secure cloud storage, and advanced access control to protect your documents and maintain regulatory compliance.
How to fill out form 5498
How to fill out Form 5498
01
Obtain Form 5498 from the IRS website or your financial institution.
02
Fill out your personal information including your name, address, and Social Security number.
03
Enter the type of retirement account (e.g., IRA, Roth IRA).
04
Record the fair market value of your account as of December 31 of the tax year.
05
Indicate any contributions made to your account for the tax year.
06
Provide details about rollovers or conversions if applicable.
07
Review all information for accuracy.
08
Submit the form to the IRS according to their guidelines and deadlines.
Who needs Form 5498?
01
Individuals who have an Individual Retirement Account (IRA), including traditional IRAs and Roth IRAs.
02
Any taxpayer who made contributions or had rollovers in their IRA during the tax year.
03
Trustees or custodians of IRAs who are required to report contributions and the fair market value of the IRA.
Fill
form
: Try Risk Free
People Also Ask about
Do I have to report 5498-SA on my tax return?
The trustee of your HSA, Archer MSA, or MA MSA may provide other information about your account on this form. Note: Don't attach Form 5498-SA to your income tax return. Instead, keep it for your records.
Do I need to report form 5498 on my tax return?
You aren't required to do anything with Form 5498 because it's for informational purposes only. Please be sure to keep this form for your records as you'll need this information to calculate your taxable income when you decide to take distributions from your IRA.
Who uses form 5498?
Anyone who owns an IRA should get a Form 5498 each year for each IRA they own.
What is the difference between a 1099 and a 5498?
Form 1099 is used to report distributions and associated tax withholdings, while Form 5498 reports contributions, rollovers, FMVs, and RMDs. Both serve different purposes but are essential for accurate tax reporting. If you take a distribution and make contributions in the same year, you will likely receive both forms.
Do I need to report form 5498 on my tax return?
You don't have to file this form with your tax return. The financial institution that issued it will share this information with the IRS. Form 5498 can help you keep track of contributions you've made to a traditional IRA, Roth IRA, SEP IRA, or SIMPLE IRA.
What is the difference between a 1099 and a 5498?
Form 1099 is used to report distributions and associated tax withholdings, while Form 5498 reports contributions, rollovers, FMVs, and RMDs. Both serve different purposes but are essential for accurate tax reporting. If you take a distribution and make contributions in the same year, you will likely receive both forms.
Why did I receive a form 5498?
When you save for retirement with an individual retirement arrangement (IRA), you probably receive a Form 5498 each year. The institution that manages your IRA is required to report all contributions you make to the account during the tax year on the form.
For pdfFiller’s FAQs
Below is a list of the most common customer questions. If you can’t find an answer to your question, please don’t hesitate to reach out to us.
What is Form 5498?
Form 5498 is an IRS tax form used to report contributions made to individual retirement accounts (IRAs), including traditional IRAs, Roth IRAs, SEP IRAs, and SIMPLE IRAs. It is also used to report the fair market value of the accounts.
Who is required to file Form 5498?
The financial institution or custodian that manages an individual retirement account is required to file Form 5498. This form must be submitted to the IRS and a copy provided to the account holder by May 31st of the year following the tax year being reported.
How to fill out Form 5498?
To fill out Form 5498, report the following information: the account holder's name, address, and Social Security number; the type of IRA; contributions made during the year; rollover contributions; the fair market value of the account at year-end; and any required minimum distributions (RMDs) if applicable.
What is the purpose of Form 5498?
The purpose of Form 5498 is to provide the IRS and account holders with information about contributions to IRAs, ensuring compliance with tax laws and facilitating accurate tax reporting and record-keeping.
What information must be reported on Form 5498?
Form 5498 must report the following information: the account holder's name, address, and Social Security number; the type of IRA; the total contributions made during the tax year; the amount of rollover contributions; the fair market value of the account as of December 31; and the amount of any required minimum distributions if applicable.
Fill out your form 5498 online with pdfFiller!
pdfFiller is an end-to-end solution for managing, creating, and editing documents and forms in the cloud. Save time and hassle by preparing your tax forms online.
Form 5498 is not the form you're looking for?Search for another form here.
Relevant keywords
Related Forms
If you believe that this page should be taken down, please follow our DMCA take down process
here
.
This form may include fields for payment information. Data entered in these fields is not covered by PCI DSS compliance.
