Instructions for filling out Form 5498-SA

This document offers comprehensive guidance on completing Forms 1099-SA and 5498-SA for the year 2025, covering various topics such as transfers, HSA mistaken distributions, death of account holder, statements to recipients, and more.

In this article, we'll provide information on Form 5498-SA and a step-by-step guide on how to fill it out, keeping it straight to the point.

What is Form 5498-SA?

Form 5498-SA is a tax form provided by the Internal Revenue Service (IRS) used to report contributions made to a health savings account (HSA), Archer medical savings account (Archer MSA), or Medicare Advantage MSA (MA MSA) during a tax year.

This includes contributions made in the current year for the previous year and qualified HSA funding distributions (trustee-to-trustee transfers from an IRA to an HSA). The form, filed by the trustee or custodian of an HSA, Archer MSA, or MA MSA, is also used to report the fair market value of the account on December 31 of the tax year.

Who Must File Form 5498-SA?

Form 5498-SA must be filed by the trustee or custodian of a health savings account (HSA), Archer medical savings account (Archer MSA), or Medicare Advantage MSA (MA MSA) for each individual for whom they maintained such an account during 2024.

Form 5498-SA Tax Filing Deadlines and Due Dates (2026)

Due date for furnishing statements to account holders:
June 1, 2026
(May 31, 2026 falls on a Sunday, so the deadline rolls to the next business day.)

Due date for filing with the IRS (paper filing):
June 1, 2026

Due date for filing with the IRS (electronic filing):
June 30, 2026

These deadlines apply to Form 5498-SA reporting 2025 HSA, Archer MSA, or Medicare Advantage MSA activity.

Form 5498-SA Late Filing Penalties

There is no single, fixed “late payment” penalty specifically tied to Form 5498-SA. However, failure to file on time, furnish statements to account holders, or report accurate information may still result in IRS penalties.

The IRS can impose penalties for:

• Late filing with the IRS
• Failure to furnish statements to account holders
• Filing forms with incorrect or incomplete information

To remain compliant, it’s important to meet both the account holder furnishing deadline and the IRS filing deadline.

Step-by-Step Instructions for Form 5498-SA (2026)

The step-by-step instructions for completing Form 5498-SA are as follows:

1. File Form 5498-SA with the IRS on or before June 1, 2026, for each person for whom you maintained a health savings account (HSA), Archer medical savings account (Archer MSA), or Medicare Advantage MSA (MA MSA) during 2025.
2. Include any contribution made in 2025 for 2024 in Box 2.
   Also include qualified HSA funding distributions received by you during 2025.
3. Enter the total HSA or Archer MSA contributions made in 2026 for 2025 in Box 3.
4. Enter rollover contributions to the HSA or Archer MSA received during 2025 in Box 4.
   These amounts should not be included in Box 2.
5. Enter the Fair Market Value (FMV) of the account as of December 31, 2025, in Box 5.
6. Check the box in Box 6 to indicate whether the account is an HSA, Archer MSA, or MA MSA.

How to Submit Form 5498-SA

To submit Form 5498-SA, follow the detailed instructions provided by the IRS for each part of the form. Ensure accuracy and completeness when filling out the form, and adhere to the specified due dates for furnishing statements to account holders and filing with the IRS.

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