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cats8894
New Member

I opened an hsa account thinking i had a hdhp but found out my plan is not eligible. I closed the account after 4 days of opening it. Will i have a tax penalty?

I accured $0.66 in interest. Funds in the account were transfered to a regular savings account. 

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DawnC0
Intuit Alumni

I opened an hsa account thinking i had a hdhp but found out my plan is not eligible. I closed the account after 4 days of opening it. Will i have a tax penalty?

There will be no penalty as long as you removed any ineligible contributions made to the HSA before 04/15. 

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1 Reply
DawnC0
Intuit Alumni

I opened an hsa account thinking i had a hdhp but found out my plan is not eligible. I closed the account after 4 days of opening it. Will i have a tax penalty?

There will be no penalty as long as you removed any ineligible contributions made to the HSA before 04/15. 

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