Irs Form 5498 Instructions: Fill & Download for Free

To complement Mike and Timothy’s answers here, as well as assist with your tax filings, your Health Savings Account (“HSA”) provider may distribute two forms, IRS Form 5498-SA and IRS Form 1099-SA.Form 5498-SA indicates what contributions you made during the tax year. Note that in addition to your contributions made, this form also includes rollover contributions* as well as fair market value (“FMV”) of the HSA.Form 1099-SA, on the other hand, reports distributions or withdrawals from your HSA during the tax-reporting year. Note Box 3 on Form 1099-SA (2017) indicates the distribution code. Most of the time this will have a 1, but the box makes a record of other types of withdrawals.For instance, because the HSA is also an estate asset at the death of the taxpayer, similar to other savings accounts, the IRS requires reporters to distinguish between distributions to the decedent’s estate and payments to a decedent’s non-spouse beneficiary. Spouses assume the rights of the HSA if listed as beneficiary and enjoy the same tax benefits. However, for others the HSA becomes “Income in Respect of a Decedent.”For more on how the tax code treats HSA transfers at the death of the account holder, see IRS Publication 559, Survivors, Executors, and Administrators.*Note that the IRS distinguishes between “rollover” contributions and trustee-to-trustee transfers. You can transfer funds from one HSA provider to another at any point. A rollover, however, requires you to deposit the funds withdrawn within 60 days. This is a gotcha that applies to other forms of tax deferred savings account rollovers, like IRAs and 401(k)s. Separately, you can also fund your HSA with a distribution from a traditional or Roth IRA.In summary, and as you can see from the proceeding, an HSA can be a very versatile, tax-friendly savings account.For more details on HSAs see IRS Publication 969 Health Savings Accounts and Other-Tax Favored Health Plans, and IRS Instruction for Forms 1099-SA and 5498-SA.

IRS Form 8853 or IRS Form 8889 and their instructions for information on how ... Any employer contributions made to. HSAs are shown on your Form W-2 in Box 12 (code W). For more information ... section also includes the 2019 and 2018 fair market values of your ... Fidelity Investments does not provide legal or tax advice.

The companies that you worked for should have issued you the Form 1099’s. If you did not receive them you may want to contact the companies HR office. If that fails, you may contact the IRS and request copies of the informational tape information submitted to IRS from those companies. As an alternative, you can use their Get Transcript tool to request your wage and income transcript. It shows the data reported to the IRS on information returns such as Form W-2s, Form 1099 series, Form 1098 series, and Form 5498 series; however, state or local information isn't included with the Form W-2 information. These transcripts are available for the past ten tax years but information for the current tax year may not be complete until July. See Get Transcript FAQs and Can I get a transcript or copy of Form W-2, Wage and Tax Statement, from the IRS? for more information. You can also use Form 4506-T (PDF), Request for Transcript of Tax Return, to request a wage and income transcript.The Social Security Administration (SSA) provides to the Number Holder (NH) or legal representative(s) at no charge, a microprint copy of Form W-2. You can use this to help resolve an SSA program-related matter, such as an earnings discrepancy in connection with the processing of a Title II and/or Title XVI claim or an SSA or NH initiated earnings investigation. Visit SSA.gov or call 800-772-1213 for instructions on how to obtain wage information from the SSA.If you have the information you may use this form to file a substitute Form 1099: https://www.irs.gov/pub/irs-pdf/f4852.pdfOr you may call the IRS toll free at 800-829-1040 or visit an IRS Taxpayer Assistance Center (TAC) in person.I hope this is helpful.