IRS Form 5498

The IRS does not accept a self-printed copy of Copy A of Form 5498; file Copy A electronically or on the official red form ordered from the IRS. You can fill out and print the other copy here: Copy B for the participant.

IRS Form 5498 is a tax document used to report contributions made to Individual Retirement Arrangements (IRAs), including traditional, Roth, SEP, and SIMPLE IRAs and certain types of retirement accounts. It is typically issued by financial institutions, such as banks, brokerage firms, or mutual fund companies, to account holders who have made contributions to their IRA accounts during the tax year. The form provides important information to both taxpayers and the Internal Revenue Service (IRS) regarding the amount of contributions made to their retirement accounts, which may be eligible for tax benefits:

• The taxpayer’s name, address, and Social Security number (SSN),
• Details about the IRA account, including the type of IRA (traditional, Roth, SEP, SIMPLE) and the account number,
• The total amount of contributions made to the IRA during the tax year,
• And any rollover contributions or conversions made to the IRA.

Financial institutions help taxpayers accurately report their IRA contributions on their federal income tax returns by issuing Form 5498.