File 5498, 5498-SA, & 5498-ESA Online using our Software
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What is the purpose of Filing Form 5498?
IRS Tax Form 5498 is used to report the contribution made for Individual Retirement Arrangement (IRA) with the IRS. The "custodian" of IRA, typically a bank or other financial institution that manages an IRA account, will mail a copy of the Form 5498 to participants and file the same with the IRS.
File Form 5498 to report various types of IRA contributions like Traditional IRA, SEP IRA, Simple IRA and Roth IRA.
The participant can expect to receive the Form 5498 if they have made any contributions to an IRA in the preceding tax year. Depending on the type of IRA, the participant may need to report IRA contribution deductions (Form 5498) on their income tax return.
Visit https://www.taxbandits.com/form-5498-series/what-is-form-5498/ to know more about Form 5498.
Other 5498 Forms
Form 5498-SA
Form 5498-SA , report total contributions made to a Health Savings Accounts (HSA), Archer Medical Savings Accounts (MSA), and Medical Advantage MSA (MA MSA) to the IRS.
Know more about the Form 5498-SA.
Form 5498-ESA
Form 5498-ESA,Coverdell Education Savings Accounts (ESA) Contribution Information, with the IRS for each person for whom you maintained any ESA in the year.
Know more about the Form 5498-ESA.
Ready to file Form 5498?
Information Required to File Form 5498
Filing Form 5498 becomes easy when you have the filing information in-hand.
The following are the information required to file 5498:
- Trustee/issuer details such as name, TIN, address details
- Participant details such as name, TIN and address details
- IRA contribution informations
Fill the boxes in the Form 5498 once you have all the information required. There are about 20 boxes in the form to report IRAs, types, rollover contributions, RMD.
Visit https://www.taxbandits.com/form-5498-series/form-5498-instructions/ to know more about Form 5498 Instructions.
How to File 5498 Electronically?
Create a FREE account
Choose
“Form 5498”
Enter Trustee’s or Issuer’s Details
Enter Participant’s Details
Enter IRA Contribution type and information
Review, Pay & Transmit to the IRS.
Visit https://www.taxbandits.com/form-5498-series/e-file-form-5498-online/ to know more
Only Pay When You're Ready to Transmit to the IRS
When to File Form 5498 for the 2020 Tax Year?
Due to the participant (Only for FMV & RMD) by February 01, 2021
Due to the participant (Other types of IRAs) by June 30, 2021
E-File Form 5498 with the IRS by
June 30, 2021
Visit https://www.taxbandits.com/form-5498-series/form-5498-deadline/ to learn more.
Features
Postal Mailing
Avoid standing at the post office, you can send a hard copy to any of your beneficiaries after your return has been filed with the IRS.
Access Form Copies
Easily & Quickly access your Form copies. View, download and print your Form 5498 at any time from anywhere.
Free Form 1096
Form 1096 is a transmittal form providing the summary of your 5498 forms and required when paper filing. We will generate it for your record keeping purposes when you e-file 5498 with us.
Tax Extension Available
You can e-file an extension Form 8809 to extend the time for filing 5498 Forms. If you need more time to file your 5498 Forms.
Multi-User Access
Provide access to various users with a role to each user to manage your account on your behalf.
U.S Based Support
Our support team is 100% U.S based. We will assist you at any time through phone, chat and emails. We will answer your questions and help you file your taxes.
Pricing
Form 5498 E-file pricing starts as low as $0.50/form
Having any questions?
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