Form 5498-SA

Form 5498-SA is an IRS form that reports contributions made to certain tax-advantaged medical savings accounts, specifically: Health Savings Accounts (HSAs), Archer Medical Savings Accounts (MSAs), and Medicare Advantage MSAs (MA MSAs).

It is filed by the trustee or custodian (for example, a bank or financial institution), not the individual account holder.

Key Facts

• Who Files It: Filed by the financial institution that manages the HSA, MSA, or MA MSA.
• Who Receives It: The IRS and the individual account holder (for their records).
• When Is It Due:
  
  • To the IRS: May 31 of the following year (for example, May 31, 2025, for 2024 contributions)
  • To the account holder: Same May 31 deadline
• What It Reports: Total contributions made for the year (including those made by an employer or yourself), rollovers from other accounts, and fair market value of the account at year-end.
• Related Forms:
  
  • Form 1099-SA: Reports distributions (money taken out)
  • Form 8889: Used by the taxpayer to report HSA activity on their tax return

1. Do I need to include Form 5498-SA in my tax return?

No. It’s for informational purposes only. Keep it for your records. You report HSA contributions on Form 8889, not by attaching Form 5498-SA.

2. What should I do if the information on Form 5498-SA is wrong?

Contact your HSA provider or custodian immediately to request a corrected form.

3. Why did I receive Form 5498-SA after filing my taxes?

It’s common - it’s not due until May 31, so it often arrives after the tax deadline. You can amend your return if necessary.

4. What’s the difference between Form 1099-SA and Form 5498-SA?

• 5498-SA = reports contributions
• 1099-SA = reports distributions

5. Does employer HSA contribution appear on Form 5498-SA?

Yes. All contributions - whether by you, your employer, or others - are reported here.