File 5498 Online

What is IRS Form 5498?

• Payment Settlement Entities (IRA) file Form 5498 for payments made in settlement of a reportable payment transaction.

When would you need to file a Form 5498?

IRS Form 5498 is used to report individual retirement arrangements. Usecase: Contributions to any IRA must be reported on IRS Form 5498.

• If you have reportable contributions to any IRA, you must report those on Form 5498.
• If you converted from an IRA to a Roth IRA, the total amount converted must be reported on Form 5498.
• If an IRA is revoked or an account is closed, the contributions must be reported on Form 5498.
• For more, visit www.irs.gov

5498 Deadline and Important Dates

With Tax1099.com, you can schedule the date that your forms are transmitted to the IRS. Scheduling your forms gives you time between when we email/USPS your forms to vendors and when we send the forms to the IRS. This is useful because your vendors may have edits to make. You can make those changes in Tax1099 before the scheduled date at no extra charge. We automatically schedule your IRS eFile transmission at a week away from when you submit, or by the deadline. You can edit this date to match your preference.

5498 eFile Info

Electronically-filed 5498 forms are directly transmitted to the IRS from Tax1099.

You will receive IRS acknowledgement of your eFile by email within 3 - 7 business days.