Form 5498-SA is a tax form used in the United States to report contributions to a Health Savings Account (HSA). HSA contributions are made on a pre-tax basis, meaning they are not subject to federal income tax. The form is provided by HSA custodians or trustees to both the IRS and the account holder. 

Form 5498-SA details the total contributions made to the HSA during the tax year, including any contributions made by the account holder or by an employer on behalf of the account holder. This form is typically issued annually and is used by taxpayers to report their HSA contributions on their federal income tax return.

What is form 5498-SA used for?

The purpose of Form  5498-SA is to provide the Internal Revenue Service (IRS) with information about contributions, distributions, and fair market values of HSA, Archer MSA, and MA MSA accounts. This form helps individuals accurately report their account activity on their tax returns.

Who needs to file Form 5498-SA?

Form 5498-SA is typically filed by the trustee or custodian of an HSA. It is not filed by the HSA accountholder. The trustee or custodian is responsible for providing the accountholder with a copy of Form 5498-SA, which reports the contributions made to the HSA during the tax year. 

The accountholder may use this form for their records and to report HSA contributions on their federal income tax return, but they do not need to file Form 5498-SA with the IRS themselves.

Deadline for filing Form 5498-SA

As mentioned earlier, account trustees must furnish individuals with a copy of Form 5498-SA by May 31st. Trustees are also required to file this form with the IRS by June 30th. This gives the IRS time to cross-check the information reported on individual tax returns and ensure accuracy.

How do I get my 5498-SA form?

To obtain your 5498-SA form, you typically need to contact your financial institution or the entity that manages your HSA. Here are some steps you can take:

  • Contact Your HSA Provider: Reach out to the financial institution or entity that manages your HSA. This could be a bank, credit union, or any other financial service provider.
  • Online Access: Many HSA providers offer online account management portals where you can access your tax forms electronically. Log in to your account on their website and look for a section related to tax forms or documents. Your 5498-SA form may be available for download or viewing there.
  • Request by Phone or Email: If you cannot find the form online or prefer to receive it directly from your provider, contact them via phone or email. Customer service representatives should be able to assist you in obtaining the necessary tax forms, including the 5498-SA.
  • Mail Delivery: Some HSA providers automatically mail tax forms to account holders. If you haven’t received your form by mail, it’s a good idea to contact your provider to ensure they have your correct mailing address on file.
  • IRS Assistance: If you’ve exhausted all other options and still cannot obtain your 5498-SA form, you can contact the IRS for assistance. They may be able to provide guidance on how to proceed.

In some cases, you may not receive a Form 5498-SA due to changes in your account information or incorrect contact information. If this happens, you can request a copy of the form from your account trustee or access it electronically if they provide that option.

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