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I have scheduled personal HSA contribution on 04/17. However the actual fund transfer will happen in couple days after 04/18 . Will I still get qualified for tax savings?

Actual fund transfer is delayed due to the bank account verification process
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3 Replies
BillM223
Expert Alumni

I have scheduled personal HSA contribution on 04/17. However the actual fund transfer will happen in couple days after 04/18 . Will I still get qualified for tax savings?

Are you wanting this contribution to be for tax year 2021?

 

Who is doing the transfer: the HSA custodian or someone else?

 

 

 

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I have scheduled personal HSA contribution on 04/17. However the actual fund transfer will happen in couple days after 04/18 . Will I still get qualified for tax savings?

Yes I want this contribution to be for the tax year 2021.

HSA Custodian is doing this transfer once the bank verification is complete

BillM223
Expert Alumni

I have scheduled personal HSA contribution on 04/17. However the actual fund transfer will happen in couple days after 04/18 . Will I still get qualified for tax savings?

I suggest you ask the HSA custodian if they will mark it for 2021, no matter when the actual cash transfer happens. If they do, then they will issue/re-issue a 5498-SA showing it for 2021, and you're set.

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