What is IRS Form 5498-SA and when do you receive it?

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Form 5498-SA reports contributions made to Health Savings Accounts (HSAs), Archer Medical Savings Accounts (MSAs), or Medicare Advantage MSAs. Your HSA custodian or trustee issues this form to both you and the IRS, typically by May 31 each year. It details all contributions made for the prior tax year, including employer contributions. While you don’t file Form 5498-SA with your tax return, you should keep it for your records. This form ensures accurate reporting of HSA contributions and helps prevent excess contributions that could trigger tax penalties.

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