The 5498-SA is the IRS form that reports your health savings account contributions
The Form 5498-SA is an IRS document that shows how much money you or your employer put into your health savings account (HSA) during the tax year. The IRS uses it to track whether your contributions stayed within the legal limit. You receive a copy for your records, and the financial institution holding your HSA sends a copy to the IRS.
Unlike some tax forms, the 5498-SA does not determine what you owe or what you get back. It is purely informational — it documents contributions that you may already have deducted on your tax return. If you contributed to an HSA, you will receive this form by March 31 of the following year.
Key Takeaways
- Form 5498-SA reports HSA contributions made during the tax year and is sent by your HSA custodian (usually a bank or insurance company) by March 31.
- The form shows contributions from you, your employer, and any rollovers from other HSAs, broken down by category.
- You use the information on this form to verify that your contributions did not exceed the annual IRS limit, which varies by coverage type and changes yearly.
- The 5498-SA is not required to file your tax return, but you should keep it with your tax records to support the HSA deduction you claim.
What information appears on the 5498-SA
The form is divided into boxes, each reporting a different type of contribution. Box 1 shows contributions made by you (the account owner). Box 2 shows contributions made by your employer. Box 3 shows rollovers from another HSA. Box 4 shows contributions made on your behalf by someone else — for example, a family member or a former employer. Box 5 shows fair market value of the HSA on December 31.
The totals in these boxes tell you how much went into your HSA during the year. You will need this information to confirm that the total does not exceed the annual contribution limit set by the IRS. The limit depends on whether you have individual coverage or family coverage under a high-deductible health plan (HDHP), and the IRS adjusts it each year.
How the contribution limit works
The IRS sets a maximum amount you can contribute to an HSA each year. For 2024, the limit is $4,150 for individual coverage and $8,300 for family coverage. If you are age 55 or older, you can contribute an additional $1,000 (called a catch-up contribution). These limits change annually, and the IRS publishes the new amounts in the fall for the following year.
The 5498-SA helps you track whether your total contributions — from all sources combined — stayed within that limit. If you contributed more than the limit, you may owe a penalty tax on the excess amount. The form itself does not calculate this; you do that when you file your tax return.
Why you receive this form and what to do with it
Your HSA custodian is required by law to send you a 5498-SA by March 31. You receive it whether or not you made contributions yourself — if your employer contributed on your behalf, you still get the form. Keep this document with your tax records for at least three years.
You do not attach the 5498-SA to your tax return when you file. Instead, you use the information on it to fill out the HSA section of your tax return (usually Form 1040 or a related schedule). If you claimed an HSA deduction on a previous year's return and the 5498-SA shows a different amount, you may need to file an amended return.
When you might not receive a 5498-SA
If you had an HSA but made no contributions during the year — neither you nor your employer contributed — your custodian may still send you a 5498-SA showing zeros. Some custodians send the form only if contributions were made; others send it to all account holders. Either approach is correct under IRS rules.
If you closed your HSA during the year, you should still receive a 5498-SA for that year showing contributions made before closure. If you do not receive the form by early April, contact your HSA custodian directly and ask them to send it or provide the contribution information in writing.
How the 5498-SA differs from the 1099-SA
The Form 1099-SA is a different document that reports money you withdrew from your HSA. The 5498-SA reports money that went in; the 1099-SA reports money that came out. You may receive both forms in the same year. The 1099-SA is the one you need when filing your return if you took HSA distributions, because the IRS wants to know whether those withdrawals were for may have access to medical expenses.
Think of it this way: the 5498-SA is about contributions (deposits), and the 1099-SA is about distributions (withdrawals). Both are informational forms that help the IRS verify your HSA activity matches what you report on your tax return.
Frequently Asked Questions
Do I need the 5498-SA to file my tax return?
No. The 5498-SA is informational only. You file your return using the information from it, but you do not attach the form itself. However, you should keep it with your records to support any HSA deduction you claim, in case the IRS asks questions later.
What if the 5498-SA shows contributions I did not make?
Contact your HSA custodian when ready. The most common reason is that your employer made contributions you were not aware of. If the form is genuinely wrong — for example, it shows a contribution twice — the custodian can issue a corrected form (marked as a correction on the IRS copy).
Can I deduct HSA contributions if I did not receive a 5498-SA?
Yes. The form is a record-keeping tool, not a requirement to claim the deduction. If you made contributions and did not receive the form, you can still deduct them using your own records (bank statements, cancelled checks, or receipts). Request the form from your custodian, but do not wait for it to file your return.
What happens if my contributions exceeded the annual limit?
You owe a 6 percent excise tax on the excess amount for each year it remains in the account. You report this on Form 5329 when you file your return. The sooner you catch an overage, the less penalty tax you owe, so review your 5498-SA carefully against the year's contribution limit.