@vman1 wrote:
The rules say that I can contribute $3500 to existing HSA for prior year until July, 2020 even if I did not have high deductible plan coverage that year but have it in the current year.
No, there are any rules that say that. Can you point out where any rules would say that?
- If you had a HDHP in 2019, yes, you could contribute until the due date of the return (July 15th this year).
- If you had a HDHP by December 1st, 2019, you could be eligible for a full-year contribution under certain circumstances.
Except for that second bullet point above, you need to have had a HDHP for that month in order to contribute to the HSA.
https://www.irs.gov/publications/p969#en_US_2019_publink1000204025
