Copy C For Trustee Certain To complete Form 5498-SA use Returns and The 2018 Instructions for Forms 1099-SA and 5498-SA. Other information. 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. 1220. developments related to Form 5498-SA and its instructions such as legislation enacted after they were Need help If you have questions about reporting on...service site toll free at 866-455-7438 or 304-263-8700 not toll free. VOID CORRECTED TRUSTEE S name street address city or town state or province country ZIP or foreign postal code and telephone number 1 Employee or self-employed person s Archer MSA contributions made in 2018 and 2019 for 2018 OMB No. 1545-1518 2 Total contributions made in 2018 Form 5498-SA TRUSTEE S TIN PARTICIPANT S TIN HSA Archer MSA or Medicare Advantage MSA Information 3 Total HSA or Archer MSA contributions made in 2019...for 2018 PARTICIPANT S name 4 Rollover contributions 5 Fair market value of HSA Archer MSA or MA MSA 6 HSA Street address including apt. no. Archer MSA City or town state or province country and ZIP or foreign postal code MA MSA Account number see instructions Cat. No. 38467V www.irs.gov/Form5498SA Copy A For Internal Revenue Service Center File with Form 1096. For Privacy Act and Paperwork Reduction Act Notice see the 2018 General Instructions for Certain Information Returns. For Privacy Act...and Paperwork Reduction Act Notice see the 2018 General Instructions for Certain Information Returns. Department of the Treasury - Internal Revenue Service Do Not Cut or Separate Forms on This Page Do Not Cut or Separate Forms on This Page CORRECTED if checked Copy B Participant This information is being furnished to the IRS* keep for your records account HSA Archer medical savings account MSA or Medicare Advantage MSA MA MSA. Generally contributions you make to your Archer MSA are deductible....Employer contributions are excluded from your income and aren t deductible by you. If your employer makes a contribution to one of your Archer MSAs you can t contribute to any Archer MSA for that year. If you made a contribution to your Archer MSA when your employer has contributed you can t deduct your employer makes a contribution to your spouse s Archer MSA you can t make a contribution to your Archer MSA if your spouse is covered under a high deductible health plan that also covers you....Contributions that the Social Security Administration makes to your MA MSA aren t includible in your gross income nor are they deductible. Neither you nor your employer can make contributions to your MA MSA. your HSA are deductible on your tax return* Employer contributions to your HSA may be excluded from your income and aren t deductible by you. You and your employer can make contributions to your HSA in the same year. See Form 8853 and its instructions or Form 8889 and its instructions. Any...box 12 code R employer contributions made to an HSA are shown in box 12 code W. For more information see Pub.
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Instructions and Help about IRS 5498-SA
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How to fill out IRS 5498-SA
Instructions and Help about IRS 5498-SA
How to edit IRS 5498-SA
To edit the IRS 5498-SA form, use a PDF editing tool. pdfFiller allows you to upload the form, make necessary changes, and save the updated document. Follow these steps:
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How to fill out IRS 5498-SA
Filling out IRS 5498-SA involves several steps. Ensure you have all the necessary information, such as your HSA account details and contributions. Here's how to complete the form:
01
Enter your name and address in the designated fields.
02
Provide the name of the HSA trustee or custodian.
03
Input the HSA account number.
04
Report contributions made during the year.
05
Check any applicable boxes for rollover contributions or other relevant details.
About IRS 5498-SA 2018 previous version
What is IRS 5498-SA?
What is the purpose of this form?
Who needs the form?
When am I exempt from filling out this form?
Components of the form
What are the penalties for not issuing the form?
What information do you need when you file the form?
Is the form accompanied by other forms?
Where do I send the form?
About IRS 5498-SA 2018 previous version
What is IRS 5498-SA?
IRS 5498-SA is a tax form used to report contributions to Health Savings Accounts (HSAs). This form is filed by the trustee or custodian of the HSA, providing the IRS with information on contributions made by the account holder and ensuring compliance with tax regulations.
What is the purpose of this form?
The purpose of IRS 5498-SA is to document contributions made to HSAs during the tax year. This ensures that taxpayers do not exceed contribution limits set by the IRS and helps account holders affirm their eligibility for tax benefits associated with HSAs.
Who needs the form?
Individuals who have made contributions to an HSA during the tax year will receive IRS 5498-SA from their HSA trustee or custodian. Additionally, financial institutions that maintain HSAs are required to file this form with the IRS for each account holder.
When am I exempt from filling out this form?
You generally do not fill out IRS 5498-SA yourself; instead, your HSA trustee or custodian completes and files it. However, if you did not make any contributions to your HSA during the tax year, you do not need to worry about this form.
Components of the form
The IRS 5498-SA includes several components, such as your name, address, and HSA account number. It also details the total contributions for the tax year, any rollover contributions, and other relevant information necessary for accurate filing.
What are the penalties for not issuing the form?
Failure to issue IRS 5498-SA can lead to penalties for the trustee or custodian responsible for filing, which can include fines. Additionally, inaccurate information on the form may result in the account holder facing tax implications or discrepancies during tax filing.
What information do you need when you file the form?
When filing IRS 5498-SA, you'll need specific information such as your name, address, HSA account number, and details of your contributions. The form will also require the trustee's name and any relevant accounts associated with the HSA.
Is the form accompanied by other forms?
IRS 5498-SA is typically not filed alongside other forms by the account holder. However, it serves as supporting documentation for your tax return, which may involve other required forms related to HSAs or deductions.
Where do I send the form?
IRS 5498-SA is not submitted directly by the taxpayer; instead, it is filed by the HSA trustee or custodian with the IRS. However, you should keep a copy of the form for your records to reference when filing your taxes.
FAQ about irs 5498 sa form
What should I do if I realize I've made a mistake on my irs 5498 sa form after filing?
If you've discovered an error on your irs 5498 sa form after submission, you should file a corrected version of the form. Ensure that you follow the guidelines for amendments to avoid further issues. Keep documentation of the corrections for your records.
How can I track the status of my submitted irs 5498 sa form?
To verify the receipt and processing of your irs 5498 sa form, check with the IRS's e-file system or contact them directly. It's essential to keep track of confirmation emails or receipts that provide proof of your submission.
What legal considerations should I keep in mind when e-filing the irs 5498 sa form?
When e-filing your irs 5498 sa form, ensure that you are aware of the acceptability of e-signatures and understand the privacy and data security measures in place. Retain copies of your submission for your records in accordance with the recommended retention period.
Are there specific common errors associated with the irs 5498 sa form, and how can I avoid them?
Many filers mistakenly enter incorrect account numbers or fail to report contributions accurately. To minimize these errors, double-check all entries against your records before submission. Using reliable software may also help catch errors before filing.
What should I do if my submission of the irs 5498 sa form is rejected?
If your irs 5498 sa form is rejected, review the rejection codes provided and correct the necessary information. Submit the revised form and retain a copy of the rejection for future reference. Some software may also provide guidance on the specifics of rejection errors.
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