I RECEIVED FORM 5498. WHAT DO I NEED TO DO.

[castman3000]

IN SECTION A. IT HAD $50.00. I REMEMBER I RECEIVED TWO 1099-R- (IRA CONTRIBUTION INFORMATION)

[TomYoung]

Form 5498 essentially reports contributions to a tax-deferred/tax-free account and the account's FMV at the end of the prior year.  The IRS uses this information to confirm contribution deductions you've claimed in your income tax return and as a method of determining if Required Minimum Distribution requirements - if applicable - are being met. 

From your standpoint you don't really have to "do" anything with this Form if you're confident you've reported the correct contributions and don't face the issue of RMD.

Form 1099-R on the other hand reports distribution information from tax-deferred/tax-free accounts.  You certainly would need to enter any Form 1099-R information in your income tax return.

Tom Young