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Instructions for IRS Form 1099-SA, 5498-SA
for the current year.
Instructions for IRS Form 1099-SA, 5498-SA
This document contains official instructions for IRS Form 1099-SA , and IRS Form 5498-SA . Both forms are released and collected by the Internal Revenue Service (IRS), a subdivision of the U.S. Department of the Treasury. An up-to-date fillable IRS Form 5498-SA is available for download through this link.
FAQ
Q: What is IRS Form 1099-SA?
A: IRS Form 1099-SA is used to report distributions from an HSA, Archer MSA, or Medicare Advantage MSA.
Q: What is IRS Form 5498-SA?
A: IRS Form 5498-SA is used to report contributions to an HSA, Archer MSA, or Medicare Advantage MSA.
Q: Who needs to file IRS Form 1099-SA?
A: Health plan administrators or trustees of HSAs, Archer MSAs, or Medicare Advantage MSAs need to file Form 1099-SA.
Q: Who needs to file IRS Form 5498-SA?
A: Financial institutions or trustees of HSAs, Archer MSAs, or Medicare Advantage MSAs need to file Form 5498-SA.
Q: What information is reported on IRS Form 1099-SA?
A: Form 1099-SA reports the total distributions made during the tax year, as well as any taxable amount.
Q: What information is reported on IRS Form 5498-SA?
A: Form 5498-SA reports the total contributions made during the tax year.
Q: When is the deadline for filing IRS Form 1099-SA?
A: The deadline for filing Form 1099-SA is typically January 31st.
Q: When is the deadline for filing IRS Form 5498-SA?
A: The deadline for filing Form 5498-SA is typically May 31st.
Q: Are there any penalties for late filing of IRS Form 1099-SA or 5498-SA?
A: Yes, there may be penalties for late filing of these forms. It is important to file them by the deadlines to avoid penalties.
Instruction Details:
- This 4-page document is available for download in PDF;
- Not applicable for the current tax year. Choose a more recent version to file this year's taxes;
- Complete, printable, and free.
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