HSA 1099 & 5498 forms

pynkrosegrl — Wed, 26 Jan 2022 18:13:22 GMT

I started a new job in November 2021. I have an HSA account as part of my medical insurance. I received a document “2021 composite substitute statement.” It includes both 1099 SA and 5498 SA. The 1099 SA portion doesn’t have anything - just blank. The 5498 SA has $75 in box 3 total HSA or archer MSA contributions made in 2022 for 2021, and an “X” for box 6 - HSA. The rest of the boxes are blank. Do I have to file this form?

Re: HSA 1099 & 5498 forms

BillM223 — Wed, 26 Jan 2022 18:35:28 GMT

Yes, you must for the 888 (report on HSA activity).

May I assume that the 5498-SAis for 2021 and not 2022? This box is for any contributions made in the subsequent year for the previous year. I.s, making a contribution in 2022 for 2021 would make sense.

The IRS requires that you file form 8889 (HSA activity) if you made any contributions to or took any distributions from an HSA in 2021. A contribution made in 2022 for 2021 counts as activity for 2021.

If your 2021 W-2 does not have a code W in box 12 with a dollar amount, then confirm with your employer that they made a contribution for you in early 2022 for 2021 (this is what box 3 on the 5498-SA suggests). If so, in the HSA interview, when you are asked "Did your employer tell you about other contributions?: answer YES and enter the dollar amount in the line for contributions made in 2022 for 2021.

If the 1099-SA is blank, don't worry about it.

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HSA 1099 & 5498 forms

Re: HSA 1099 & 5498 forms