Who must file Form 5498?
139 views | Last modified 9/27/2023 3:14:22 AM EST | Added by TaxBandits Team

Form 5498 must be filed by the IRA trustee or issuer for each participant. A trustee/issuer includes banks, trust companies, or any other entity approved by the IRS. For every individual having an Individual Retirement Account (IRA), trustees must use Form 5498 to report IRA contributions to the IRS. Additionally, a copy of this form must be issued to the participant.

TaxBandits helps you e-file Form 5498 online for the tax year 2022. To get started with the e-filing of Form 5498, create a free account with TaxBandits. You can opt for postal mailing to distribute participant copies.