Everything you need to know about filing 1099s, W-2s, and other tax forms for your business
Form 5498-SA is the IRS information return trustees and custodians use to report contributions to a Health Savings Account (HSA), Archer Medical Savings Account (MSA), or Medicare Advantage MSA, along with the account’s year-end fair market value. If you administer any of these accounts and received contributions during the tax year, you must file Form 5498-SA with the IRS and send a copy to each account holder.
Our platform makes 5498-SA eFiling fast, accurate, and IRS-compliant — even when you are reporting contributions across thousands of accounts.
orm 5498-SA — formally titled HSA, Archer MSA, or Medicare Advantage MSA Information — is the IRS information return that reports money going into a tax-advantaged health account. It captures the contributions made during the year, contributions carried back to the prior year, rollovers, and the fair market value of the account on December 31.
Account holders use the information on Form 5498-SA to complete Form 8889 (for HSAs) or Form 8853 (for Archer and Medicare Advantage MSAs) on their federal tax return. The form confirms how much they contributed and what the account was worth at year-end — figures they need to claim deductions and stay within contribution limits. Accurate reporting keeps your account holders on the right side of those limits and keeps your filings off the IRS correction list.
You must file Form 5498-SA if you are the trustee or custodian of a health account and any contribution was made to that account during the tax year. This includes:
File a separate Form 5498-SA for each type of account. If an account holder contributed to both an HSA and an Archer MSA, you file two forms. You also report contributions made between January 1 and April 15 that the holder designated for the prior tax year — these carry back and must appear on the correct year’s form.
Note: A contribution is any money that goes into the account, including employer contributions, employee payroll deferrals, rollovers, and trustee-to-trustee transfers. Report the full amount in the correct box, and always include the year-end fair market value even if no contributions were made — an account with a balance still requires a form.
Collect the following before you file:
Validate every account holder’s TIN before you file. A mismatched name and SSN is the most common cause of a rejected return, and it is the easiest error to catch early. Run each participant through TIN Matching first, then file with confidence.
Deadlines for Form 5498-SA are fixed. File on time to avoid penalties.
| Milestone | Deadline |
|---|---|
| Recipient copies furnished | May 31 of the year following the contribution |
| IRS paper filing | May 31 |
| IRS eFile submission | May 31 |
Filing threshold: If you file 10 or more information returns of any type in a calendar year, the IRS requires you to file electronically. eFiling meets that requirement and confirms receipt the moment you submit.
Penalties: Late or incorrect filings may result in penalties of $60–$310 per form, based on how late the correction is made. Intentional disregard penalties start at $660 per form with no cap. Filing accurate returns on time is the simplest way to avoid every one of these charges.
What is Form 5498-SA used for?
Form 5498-SA reports contributions to an HSA, Archer MSA, or Medicare Advantage MSA, plus the account’s fair market value at year-end. Account holders use it to complete Form 8889 or Form 8853, claim deductions, and confirm they stayed within their contribution limits.
Who is required to file Form 5498-SA?
The trustee or custodian of the account files it. This includes banks, credit unions, insurance companies, HSA administrators, and any financial institution that maintains these accounts and received a contribution during the year.
When is Form 5498-SA due?
Both recipient copies and IRS filings are due May 31 of the year following the contribution. This later deadline gives you time to capture prior-year contributions made through April 15.
What’s the difference between Form 5498-SA and Form 1099-SA?
Form 5498-SA reports money that went into the account — the contributions and the year-end value. Form 1099-SA reports money that left the account — the distributions. You file both for the same account, but they cover opposite sides of the activity.
Do I file a separate 5498-SA for each account type?
Yes. File one form per account type. If a holder contributed to both an HSA and an Archer MSA, you file two separate 5498-SA forms.
Do I still file if the account had no contributions?
Yes. Report the year-end fair market value even when no contributions were made. An account with a balance on December 31 still requires a Form 5498-SA.
How do prior-year contributions get reported?
Contributions made between January 1 and April 15 that the holder designated for the prior tax year carry back to that year. Report them on the correct year’s form so the holder’s deduction lines up with their return.
How do I avoid a rejected 5498-SA filing?
Validate each account holder’s name and SSN before you submit. Mismatched taxpayer data is the leading cause of rejected returns. Running TIN Matching first catches these errors while you can still fix them.
What IRS penalties apply for missing or incorrect 5498-SA forms?
Penalties range from $60 to $310 per form depending on how late the correction is filed. Intentional disregard penalties start at $660 per form with no cap.
Report HSA and MSA contributions accurately and on time. Start your free 7-day trial and file 5498-SA forms directly with the IRS today.
