[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-seo-301266-105":3,"detail-sidebar-cat-1-en-105":80,"doc-detail-301266-en":126},{"code":4,"msg":5,"data":6},0,"ok",{"site_id":7,"language":8,"slug":9,"title":10,"keywords":11,"description":12,"schema_data":13,"social_meta":73,"head_meta":75,"extra_data":77,"updated_unix":79},105,"en","2020-tax-form-5498-reporting-instructions","2020 Tax Form 5498 - Reporting Instructions","","Form 5498 reporting instructions explain how IRA trustees or issuers submit information to the IRS, including IRA contributions (and catch-up contributions), required minimum distributions (RMDs), and the account’s fair market value. The guide details participant identification handling using only the last four digits of the TIN on the form, while the trustee reports the full TIN to the IRS. It then clarifies what each box reports, including traditional IRA contributions, rollovers to Roth IRAs, conversions, recharacterizations, and SEP and SIMPLE amounts, along with RMD timing, codes, and late rollover and repayment reporting rules.",{"@graph":14,"@context":72},[15,34,55],{"@type":16,"itemListElement":17},"BreadcrumbList",[18,23,27,31],{"item":19,"name":20,"@type":21,"position":22},"https://docshare.wps.com","Home","ListItem",1,{"item":24,"name":25,"@type":21,"position":26},"https://docshare.wps.com/template/","Template",2,{"item":28,"name":29,"@type":21,"position":30},"https://docshare.wps.com/template/forms/","Forms",3,{"item":32,"name":10,"@type":21,"position":33},"https://docshare.wps.com/template/2020-tax-form-5498-reporting-instructions/301266/",4,{"url":32,"name":10,"@type":35,"image":36,"author":41,"headline":10,"publisher":44,"fileFormat":47,"inLanguage":8,"description":12,"dateModified":48,"datePublished":49,"encodingFormat":47,"isAccessibleForFree":50,"interactionStatistic":51},"DigitalDocument",{"url":37,"@type":38,"width":39,"height":40},"https://docshare.wps.com/thumbnails/2020-tax-form-5498-reporting-instructions/301266.png","ImageObject",442,249,{"name":42,"@type":43},"Riley","Person",{"url":19,"name":45,"@type":46},"DocShare","Organization","application/pdf","2026-09-24","2026-09-19",true,{"@type":52,"interactionType":53,"userInteractionCount":33},"InteractionCounter",{"@type":54},"ViewAction",{"@type":56,"mainEntity":57},"FAQPage",[58,64,68],{"name":59,"@type":60,"acceptedAnswer":61},"Who submits Form 5498 and what information must be reported?","Question",{"text":62,"@type":63},"The trustee or issuer of an IRA submits Form 5498 to report IRA contributions (including catch-up contributions), required minimum distributions (RMDs), and the fair market value of the account. It also references IRA context in IRS publications.","Answer",{"name":65,"@type":60,"acceptedAnswer":66},"How is the participant’s taxpayer identification number (TIN) shown on Form 5498?",{"text":67,"@type":63},"For protection, the form may show only the last four digits of the participant’s TIN. The trustee or issuer reports the complete TIN to the IRS.",{"name":69,"@type":60,"acceptedAnswer":70},"What does Box 1 report for 2020?",{"text":71,"@type":63},"Box 1 shows traditional IRA contributions for 2020 that were made in 2020 and through April 15, 2021. It also describes conditions that may affect deductibility and what is excluded from the box.","https://schema.org",{"og:url":32,"og:type":74,"og:title":10,"og:site_name":45,"og:description":12},"article",{"robots":76,"canonical":32},"index,follow",{"doc_id":78,"site_id":7},301266,1790234883,{"code":4,"msg":81,"data":82},"success",[83,88,93,98,103,108,112,117,122],{"id":84,"doc_module":22,"doc_module_name":25,"category_name":85,"show_sort_weight":86,"slug":87},11,"Presentations",90,"presentations",{"id":89,"doc_module":22,"doc_module_name":25,"category_name":90,"show_sort_weight":91,"slug":92},12,"Resumes",80,"resumes",{"id":94,"doc_module":22,"doc_module_name":25,"category_name":95,"show_sort_weight":96,"slug":97},14,"Invoices",70,"invoices",{"id":99,"doc_module":22,"doc_module_name":25,"category_name":100,"show_sort_weight":101,"slug":102},15,"Posters",60,"posters",{"id":104,"doc_module":22,"doc_module_name":25,"category_name":105,"show_sort_weight":106,"slug":107},16,"Social Media",50,"social-media",{"id":109,"doc_module":22,"doc_module_name":25,"category_name":29,"show_sort_weight":110,"slug":111},17,40,"forms",{"id":113,"doc_module":22,"doc_module_name":25,"category_name":114,"show_sort_weight":115,"slug":116},18,"Letters",30,"letters",{"id":118,"doc_module":22,"doc_module_name":25,"category_name":119,"show_sort_weight":120,"slug":121},21,"Paper Templates",5,"papers-templates",{"id":123,"doc_module":22,"doc_module_name":25,"category_name":124,"show_sort_weight":4,"slug":125},158,"General","general-158",{"code":4,"msg":81,"data":127},{"doc_id":78,"user_id":128,"nickname":42,"user_avatar":129,"doc_module":22,"category_id":109,"category_name":29,"doc_title":10,"doc_description":12,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":33,"is_deleted":4,"is_public":22,"is_downloadable":22,"audit_status":22,"page_count":22,"language":135,"language_code":8,"site_id":7,"html_lang":8,"table_of_contents":136,"faqs":137,"seo_title":138,"seo_description":12,"update_tm":139,"read_time":4},1374391975076,"https://ap-avatar.wpscdn.com/avatar/14000253ca4ec9f6853?x-image-process=image/resize,m_fixed,w_180,h_180&k=1783305029341752051","# 2020 Tax Form 5498:Reporting Instructions\n\nThe information on Form5498 is submitted to the IRSby the trustee or issuer of your individual retirement arrangement(IRA)toreport contributions,including any catch-up contributions,required minimum distributions(RMDs),and the fair market value(FMV)of the account.For information about IRAs,see Pubs.590-A,590-B,and 560.  \nParticipant's taxpayer identification number(TIN).For your protection,this form may show only the last four digits of your TIN(SSN,ITIN,ATIN,or EIN).However,the trustee or issuer has reported your complete TIN to the IRS.  \nAccount number.May show an account or other unique number the trustee or issuer assigned to distinguish your account.Box 1.Shows traditional IRA contributions for 2020 you made in 2020 and through April 15,2021.These contributions may bedeductible on your Form 1040 or 1040-SR.However,if you or your spouse was an active participant in an employer's pensionplan,these contributions may not be deductible.This box does not include amounts in boxes 2-4,8-10,13a,and 14a.  \nBox 2.Shows any rollover,including a direct rolloverto a traditional IRA or Roth IRA,or a qualified rollover contribution (includinga military death gratuity or SGLI payment)to a Roth IRA you made in 2020.It does not show any amounts you converted fromyour traditional IRA,SEP IRA,or SIMPLE IRA to a Roth IRA.They are shown in box 3.It does not show any late rollovercontributions.They are shown in Box 13a.See the Form 1040 or 1040-SR instructions for information on how to report rollovers.If you have ever made any nondeductible contributions to your traditional IRA or SEP IRA and you did not roll over the totaldistribution,use Form 8606 to figure the taxable amount.If property was rolled over,see Pub.590-A.For a qualified rollover toa Roth IRA,also see Pub.590-A.  \nBox 3.Shows the amount converted from a traditional IRA,SEPIRA,or SIMPLE IRA to a Roth IRA in 2020.Use Form 8606 to figurethe taxable amount.  \nBox 4.Shows amounts recharacterized from transferring any part of the contribution (plus earnings)from one type of IRA toanother.See Pub.590-A.  \nBox 5.Shows the FMV of all investments in your account at year end.However,if a decedent's name is shown,the amountreported may be the FMV on the date of death.If the FMV shown is zero for a decedent,the executor or administrator of theestate may request a date-of-death value from the financial institution.  \nBox 7.May show the kind of IRA reported on this Form 5498.  \nBoxes8and 9.Shows SEP(box8)and SIMPLE(box9)contributions made in 2020,including contributions made in 2020 for 2019,but not including contributions made in 2021 for 2020.If made by your employer,do not deduct on your income tax return.Ifyou made the contributions as a self-employed person (or partner),they may be deductible.See Pub.560.  \nBox 10.Shows Roth IRA contributions you made in 2020 and through April 15,2021.Do not deduct on your income tax return.Box 11.If the box is checked,you must take an RMD for 2021.An RMD may be required even if the box is not checked.If you donot take the RMD for 2021,you are subject to a 50%excise tax on the amount not distributed.See Pub.590-B for details.  \nBox 12a.Shows the date by which the RMDamount in box 12b must be distributed to avoid the 50%excise tax on theundistributed amount for 2021.  \nBox 12b.Shows the amount of the RMD for 2021.If box 11 is checked and thereis no amount in this box,the trustee or issuermust provide you the amount or offer to calculate the amount in a separate statement by February 1,2021.  \nBox 13a.Shows the amount of a late rollover contribution(more than 60 days after distribution)made in 2020and certified by  \nthe participant,or a postponed contribution made in 2020 for a prior year.This amount is not reported in box1 or 2.  \nBox 13b.Shows the year to which the postponed contribution in box 13a was credited.If a late rollover contribution is shown inbox 13a,this box will be blank.  \nBox 13c.For participants ","cbCaigFyqABQP0am","https://ap.wps.com/l/cbCaigFyqABQP0am","pdf",181559,"English","# Reporting of Form 5498 to the IRS\n## Participant identification and TIN display\n## Account number and general reporting scope\n## Box-by-box instructions for IRA contributions, rollovers, conversions, and recharacterizations\n## Fair market value and year-end reporting\n## RMD boxes: requirements, timing, and excise tax handling\n## Late rollovers, postponed contributions, and disaster/combat zone codes\n## Qualified reservist/disaster/birth or adoption distribution repayments","[{\"question\":\"Who submits Form 5498 and what information must be reported?\",\"answer\":\"The trustee or issuer of an IRA submits Form 5498 to report IRA contributions (including catch-up contributions), required minimum distributions (RMDs), and the fair market value of the account. It also references IRA context in IRS publications.\"},{\"question\":\"How is the participant’s taxpayer identification number (TIN) shown on Form 5498?\",\"answer\":\"For protection, the form may show only the last four digits of the participant’s TIN. The trustee or issuer reports the complete TIN to the IRS.\"},{\"question\":\"What does Box 1 report for 2020?\",\"answer\":\"Box 1 shows traditional IRA contributions for 2020 that were made in 2020 and through April 15, 2021. It also describes conditions that may affect deductibility and what is excluded from the box.\"}]","2020 Tax Form 5498 - Reporting Instructions | PDF",1789780546]