5498-SA Filing

If you've got a Health Savings Account (HSA), Archer Medical Savings Account (Archer MSA), or Medicare Advantage MSA, you're probably going to meet Form 5498-SA at some point. Think of it as your account's yearly report card except instead of grades, it's tracking your contributions and showing the IRS that everything's on the up-and-up.

Let's break down what this form is all about and why it matters to you.

What Exactly Is Form 5498-SA?

Form 5498-SA is an informational tax form that reports contributions made to your HSA or MSA during the tax year. Your account trustee or custodian (usually a bank, insurance company, or other financial institution) fills it out and sends copies to both you and the IRS.

The form shows how much money went into your account during the year, including contributions you made, employer contributions, and any rollovers or transfers. It's basically a receipt that proves to the IRS that you're playing by the contribution limit rules.

When Will You Get It?

Here's something that trips people up: You won't receive Form 5498-SA by tax filing time. The IRS gives trustees until May 31 to mail these forms out, which is well after the April tax deadline.

Why the delay? Because HSA contributions for the previous tax year can be made up until the tax filing deadline (typically April 15). So if you're scrambling to max out your 2025 HSA contributions in April 2026, that still counts for 2025 and your trustee needs time to account for those last-minute additions.

Don't panic if you haven't received it by tax day. You can usually still file your tax return using your own records of contributions.

What Information Does Form 5498-SA Include?

The form includes several boxes with different types of information:

Box 1: Employee contributions

Shows what you personally put into your HSA through payroll deductions or direct contributions.

Box 2: Employer contributions

Displays what your employer kicked in, if anything.

Box 3: Total contributions

Adds up boxes 1 and 2 to show the grand total for the year.

Box 4: Rollover contributions

Tracks any money you moved from another HSA or MSA.

Box 5: Fair market value

Shows what your account was worth as of December 31.

Box 6: Check one

Shows what your account type is.

Do You Need Form 5498-SA to File Your Taxes?

Here's the good news: You don't actually need Form 5498-SA in hand to file your tax return. The form is primarily informational for your records and for the IRS to verify your reported contributions.

When you file your taxes, you'll report your HSA contributions on Form 8889 (Health Savings Accounts). You should keep track of your contributions throughout the year so you can accurately complete Form 8889 without waiting for 5498-SA to arrive.

That said, when Form 5498-SA does show up, compare it against your Form 8889. If there are discrepancies, you'll want to figure out what went wrong and potentially file an amended return if needed.

Why Does This Form Matter?

Form 5498-SA helps keep everyone honest about contribution limits. For 2025, HSA contribution limits are $4,300 for individuals and $8,550 for families (with an additional $1,000 catch-up contribution if you're 55 or older). These limits change periodically, so always check the current year's amounts.

If you exceed these limits, you could face tax penalties. Form 5498-SA creates a paper trail showing how much went into your account, which helps the IRS ensure nobody's over-contributing whether accidentally or on purpose.

What Should You Do When You Receive It?

When Form 5498-SA arrives in late spring, don't just toss it in a drawer. Here's your game plan:

Compare the numbers

Check the form against your own records and what you reported on Form 8889. Everything should match up.

File it away

Keep Form 5498-SA with your other tax records. The IRS recommends keeping tax documents for at least three years, though some experts suggest longer.

Contact your trustee if something's wrong

If the numbers don't match what you expected, reach out to your HSA custodian. They might need to issue a corrected form.

Common Situations and Special Cases

You changed HSA providers mid-year

If you switched banks or custodians, you'll receive separate 5498-SA forms from each institution. The contributions should still add up to your total for the year.

You have multiple HSAs

Each account will generate its own Form 5498-SA. Just remember that contribution limits apply across all your HSAs combined, not per account.

You made contributions for 2025 in early 2026

These should still appear on your 2025 Form 5498-SA as long as you made them by the tax deadline and designated them for the 2025 tax year.

The Bottom Line

Form 5498-SA might not be the most exciting piece of mail you'll ever receive, but it's an important document for your HSA recordkeeping. It confirms your contributions are accounted for and gives you peace of mind that you're staying within IRS limits.

The key takeaway? Don't wait for this form to file your taxes it'll arrive fashionably late. But when it does show up, give it a quick review to make sure everything matches your records. Consider it your annual HSA checkup, keeping your health savings healthy in every sense of the word.

Now you can get back to the important business of using that HSA money for actual healthcare or letting it grow tax-free for future medical expenses. Either way, you've got this form figured out.