Future developments. For the latest information about developments related to and instructions were published go to www.irs.gov/form1099sa. Copy C Trustee/Payer To complete Form 1099-SA use Returns and the 2015 Instructions for Forms 1099-SA and 5498-SA. For Privacy Act and Paperwork Reduction Act Notice see the 2015 General Instructions for Certain Information Returns. 1099-SA Cat. No. 38471D www.irs.gov/form1099sa 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 Recipient This information is being furnished to the Internal Revenue Service. VOID CORRECTED TRUSTEE S/PAYER S name street address city or town state or province country ZIP or foreign postal code and telephone number OMB No. 1545-1517 Form 1099-SA PAYER S federal identification number RECIPIENT S identification number RECIPIENT S name 1 Gross distribution 2 Earnings on excess cont. 3 Distribution code 4...FMV on date of death Street address including apt. no. City or town state or province country and ZIP or foreign postal code Account number see instructions From an HSA Archer MSA or Medicare Advantage MSA 5 HSA Archer MA Copy A For Internal Revenue Service Center File with Form 1096. For Privacy Act and Paperwork Reduction Act Notice see the 2015 General Instructions for Certain Information Returns. Attention This form is provided for informational purposes only. Copy A appears in red similar...to the official IRS form* Do not file copy A downloaded from this website. The official printed version of this IRS form is scannable but the online version of it printed from this website is not. A penalty may be imposed for filing forms that can t be scanned* See part O in the current General Instructions for Certain Information Returns for more information about penalties. To order official IRS forms call 1-800-TAX-FORM 1-800-829-3676 or Order Information Returns and Employer Returns Online...and we ll mail you the scannable forms and other products. See IRS Publications 1141 1167 1179 and other IRS resources for information about printing these tax forms. VOID CORRECTED TRUSTEE S/PAYER S name street address city or town state or province country ZIP or foreign postal code and telephone number OMB No* 1545-1517 Form 1099-SA PAYER S federal identification number RECIPIENT S identification number RECIPIENT S name 1 Gross distribution 2 Earnings on excess cont. 3 Distribution code 4 FMV...on date of death Street address including apt* no* City or town state or province country and ZIP or foreign postal code Account number see instructions From an HSA Archer MSA or Medicare Advantage MSA 5 HSA Archer MA Copy A For Internal Revenue Service Center File with Form 1096. For Privacy Act and Paperwork Reduction Act Notice see the 2015 General Instructions for Certain Information Returns. 1099-SA Cat* No* 38471D www*irs*gov/form1099sa 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 Recipient This information is being furnished to the Internal Revenue Service.
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Instructions and Help about IRS 1099-SA
How to edit IRS 1099-SA
How to fill out IRS 1099-SA
Instructions and Help about IRS 1099-SA
How to edit IRS 1099-SA
To edit IRS 1099-SA, you typically need to obtain an editable version of the form. Use a PDF editor like pdfFiller, which allows you to make changes directly to the document. Ensure that all updates comply with IRS guidelines, and reflect accurate information before proceeding to file.
How to fill out IRS 1099-SA
Filling out IRS 1099-SA requires reflecting accurate details about distributions from a health savings account (HSA), Archer medical savings account (MSA), or a Medicare Advantage MSA. Follow these steps:
01
Gather all necessary documentation, including account statements and recipient information.
02
Enter the payer's information in the designated fields, including the name, address, and taxpayer identification number (TIN).
03
Input the recipient's information, ensuring the TIN is correct to avoid issues with the IRS.
04
Report the total distribution amount in the appropriate box.
05
Verify that all information is accurate before submitting the form.
About IRS 1099-SA 2015 previous version
What is IRS 1099-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 payments and purchases are reported?
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 1099-SA 2015 previous version
What is IRS 1099-SA?
IRS 1099-SA is a tax form used to report distributions from health savings accounts (HSAs), Archer medical savings accounts (MSAs), and Medicare Advantage MSAs. This form helps the IRS track how funds from these accounts are used, particularly for qualified medical expenses.
What is the purpose of this form?
The purpose of IRS 1099-SA is to inform both the taxpayer and the IRS about any distributions made from HSAs or MSAs during the tax year. This reporting ensures that funds are used according to tax regulations and helps determine if any additional tax liabilities exist.
Who needs the form?
Any taxpayer who received distributions from an HSA or MSA during the tax year must receive IRS 1099-SA. This includes individuals who withdrew funds for eligible medical expenses as well as those who may have withdrawn funds for non-qualified expenses.
When am I exempt from filling out this form?
You are exempt from filling out IRS 1099-SA if there were no distributions from the HSA or MSA during the tax year. Additionally, if you did not receive any funds or only received funds transferred directly to another HSA, you would not be required to file this form.
Components of the form
IRS 1099-SA contains several key components that must be completed accurately. These include:
01
The payer's information, including name, address, and TIN.
02
The recipient's information, including name, address, and TIN.
03
The amount of distribution made during the tax year.
04
Types of distributions categorized by qualified medical expenses or other reasons.
Completing these components accurately is essential to ensure compliance with IRS regulations.
What payments and purchases are reported?
IRS 1099-SA reports distributions made for qualified medical expenses from HSAs, Archer MSAs, and Medicare Advantage MSAs. If funds were used for non-qualified expenses, the amount may also be reported, which could have tax implications for the recipient.
What are the penalties for not issuing the form?
If you fail to issue IRS 1099-SA when required, the IRS may impose penalties. The fines can vary based on how late the form is filed, ranging from $50 to $550 per form, depending on the delay. Not only can this lead to financial consequences, but it may also trigger further scrutiny from the IRS over your tax filings.
What information do you need when you file the form?
When filing IRS 1099-SA, you need the payer's and recipient's personal information including names, addresses, and TINs. You should also have the total amount of distributions made during the tax year and the purpose of those distributions categorized as either qualified or non-qualified expenses.
Is the form accompanied by other forms?
IRS 1099-SA is often accompanied by Form 8889, Health Savings Accounts (HSAs), when filing taxes. Form 8889 details the transactions for HSAs and helps taxpayers calculate any taxes owed on non-qualified distributions.
Where do I send the form?
IRS 1099-SA must be sent to the IRS along with any applicable forms, such as Form 8889. The mailing address depends on your state of residence and whether you are enclosing a payment. Check the IRS website for updated mailing addresses specific to your situation.
FAQ about IRS 1099-SA
What should I do if I realize there is a mistake on my 2015 1099 SA form after submission?
If you discover a mistake after submitting your 2015 1099 SA form, you will need to file a corrected version of the form. Ensure you clearly indicate it's a corrected form and provide the correct information. It’s important to submit this correction as soon as possible to prevent any tax implications.
How can I track the status of my filed 2015 1099 SA form?
To track the status of your 2015 1099 SA form, it is advisable to use services that provide confirmation of receipt, especially if e-filing. Keep an eye out for any notification from the IRS regarding acceptance or rejection, and note common rejection codes that may appear during electronic submissions. This enables prompt action to resolve any issues.
Are there specific privacy and data security measures I should consider when filing the 2015 1099 SA form?
Yes, when filing the 2015 1099 SA form, it's crucial to ensure that you are transmitting sensitive information securely. Use encrypted methods for e-filing and maintain physical copies of all documents in secure locations. Adopting secure practices protects your personal information and helps prevent identity theft.
What should I do if I receive an audit notice related to my 2015 1099 SA form?
If you receive an audit notice concerning your 2015 1099 SA form, it's important to respond promptly and thoroughly. Review the notice to understand the audit's basis, gather all required documentation, and consider consulting a tax professional for guidance. Ensure you maintain an organized record of your transactions and filings to provide accurate information.
Use this catalog to find any type of IRS forms. We've gathered all of them under this section uncategorized to help you to find a proper form faster. Once you spot it on this list, have a look at the versions and schedules you might need as attachments. All returns are available for 2016 and for previous fiscal years.
