Hey there! I don't have Form 5498 for my Simplified Employee Plan. Can you advise what to put on the tax form?

[bongobear3882]

Also, the money in my SEP isn't invested--it's still cash. I assume I would still enter the cash value as of Dec. 31, 2016?

[Hal_Al · Accepted solution]

Put nothing. You only enter info about your IRA or SEP if you put money in or take it out.

Form 5498 is an informational form for reporting activity in a qualified retirement plan to the IRS, by the plan administrator. It is not used to input any information into your tax return. Keep your copy for your records.

[bongobear3882]

Terrific, thank you for your help--much appreciated!