How do I determine the value of all my traditional IRA, SEP, and simple IRA accounts to complete Form 8606 if I only receive one Form 5498 for one IRA account?

[leej8353]

I have multiple IRA accounts, 2 rollover accounts and 1 annuity account. I receive distributions from the annuity account and 1 IRA rollover account.  One IRA account had no distributions received in 2018 and therefore there was no Form 5498 generated.  Is it sufficient to just report fair market value from the end of year statement from the brokerage firm?

[Carl]

"Is it sufficient to just report fair market value from the end of year statement from the brokerage firm?"
That's what I do. THe program asks me for the total of all my non-ROTH accounts on Dec 31 of the tax year. I enter that, and press on.

[dmertz · Accepted solution]

Yes, in that absence of sending a Form 5498 to you by January 31, the custodian is required to provide you with the December 31 value no later than January 31.  This is typically done on the year-end statement.  Absent an error by the custodian, the year-end value on the year-end statement should agree with the FMV reported to the IRS on Form 5498.  (The custodian sends to the IRS a Form 5498 for each IRA even if they are not required to send one to you because there were no contributions for the year.)