That's correct. You don't need to submit the form every year.
File Form 8606 if any of the following apply.
• You made nondeductible contributions to a traditional IRA for 2021, including a repayment of a qualified disaster or reservist distribution.
• You received distributions from a traditional, SEP, or SIMPLE IRA in 2021 and your basis in these IRAs is more than zero.
• You or your spouse transferred all or part of their traditional, SEP, or SIMPLE IRA in 2021 to the other spouse under a divorce or separation agreement where the transfer resulted in a change in the basis of the IRA of either spouse.
• You converted an amount from a traditional, SEP, or SIMPLE IRA to a Roth IRA in 2021.
• You received distributions from a Roth IRA in 2021 (other than a rollover, recharacterization, or return of certain contributions.
• You received a distribution from an inherited traditional, SEP, or SIMPLE IRA that has a basis, or you received a distribution from an inherited Roth IRA that wasn’t a qualified distribution
2021 Instructions for Form 8606
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
