Form 5498-SA is an IRS information return your HSA, Archer MSA, or Medicare Advantage MSA custodian files to report the contributions made to your account for the tax year, plus the account's December 31 fair market value. It tracks money going in, not the distributions you spent, which are reported separately on Form 1099-SA.

What's the difference between a 1099-SA and 5498-SA?

Form 5498-SA reports contributions into your HSA or MSA; Form 1099-SA reports distributions out of it. The 5498-SA shows what was deposited and the year-end balance; the 1099-SA shows what you withdrew. Both come from your account custodian, and you may receive both in the same year.

Do I need 5498-SA to file my taxes?

Usually no. Because HSA contributions can be made up to the April deadline, custodians have until May 31 to issue Form 5498-SA, often after you file. You report HSA contributions on Form 8889 using your own records and W-2 (Box 12, code W). Keep the 5498-SA to confirm those figures and as proof you stayed within IRS contribution limits.

Why did I receive a 5498-SA?

You received Form 5498-SA because contributions were made to your HSA, Archer MSA, or Medicare Advantage MSA during the tax year — by you, your employer, or through a rollover. Your account custodian is required to report those contributions to the IRS and send you a matching copy for your records.

Is a 5498-SA tax deductible?

The form itself is not a deduction — it documents contributions. Whether those contributions are deductible depends on how you made them: payroll and employer contributions are already pretax and not separately deductible, while after-tax contributions you make directly (by check, for example) are deductible on Form 8889. Don't attach the 5498-SA to your return; keep it for your records.

How long should I keep Form 5498-SA?

Keep Form 5498-SA at least 7 years. It documents that your HSA contributions stayed under the annual IRS limit, which matters because excess contributions are taxed at 6%. Stored alongside your Form 8889 and 1099-SA, it forms the paper trail proving your contributions and qualified medical withdrawals if the IRS ever asks.

Tax

Form 5498-SA

Form 5498-SA is an IRS information return that reports contributions made to a Health Savings Account (HSA), Archer MSA, or Medicare Advantage MSA for the tax year, plus the account's fair market value on December 31. The account trustee or custodian files it with the IRS and sends you a copy. It reports money going in, not distributions out.

Excess HSA contributions are subject to a 6% excise tax each year they remain in the account, making the 5498-SA your proof you stayed within the annual limit.

Source: IRS — Instructions for Forms 1099-SA and 5498-SA

Written & maintained by the Granite team · Last updated June 2026

Overview

Form 5498-SA documents the contributions deposited into your HSA, Archer MSA, or Medicare Advantage MSA during a given year, plus the account's fair market value on December 31. It is purely informational — it covers contributions in, not the money you spent (those distributions appear on Form 1099-SA instead).

The form is issued by the financial institution that holds your account — the trustee or custodian (a bank, brokerage, or HSA administrator). You receive a copy as the account participant, while a matching copy goes to the IRS. Because HSA contributions can be made up until the tax-filing deadline in April, custodians have until May 31 to furnish the form — usually after you've already filed, so it tends to confirm what you reported rather than feed into it.

When you’ll get your Form 5498-SA

You contributed to a Health Savings Account (HSA) during the tax year, directly or through payroll
Your employer made HSA contributions on your behalf
You hold an Archer MSA or Medicare Advantage MSA with current-year contributions
You rolled over funds from one HSA or MSA into another
You made a prior-year contribution between January 1 and the April tax deadline

What’s on your Form 5498-SA

These are the fields Granite reads and extracts automatically the moment you upload one.

Trustee/Custodian name: The bank, brokerage, or HSA administrator that holds your account and issued the form.
Participant name & TIN: The account holder — you. Your Social Security number (TIN) is often shown masked.
Box 1 — Archer MSA contributions: Employee or self-employed contributions to an Archer MSA. Blank for ordinary HSAs.
Box 2 — Total contributions this year: All contributions deposited during the calendar year — including your own, employer contributions, and any qualified IRA-to-HSA funding distribution.
Box 3 — Contributions made for this year: Contributions deposited in the following year but designated for this tax year — the prior-year window that runs up to the April filing deadline.
Box 4 — Rollover contributions: Amounts rolled over into this account from another HSA or MSA.
Box 5 — Fair market value: The total value of the account as of December 31 of the tax year.
Box 6 — Account type: Which kind of account this is: HSA, Archer MSA, or MA MSA (Medicare Advantage MSA).

How long to keep it

At least 7 years

Keep each year's 5498-SA as proof that your HSA contributions stayed within the annual IRS limit — excess contributions trigger a 6% excise tax, and the form is your audit trail. Hold it longer alongside your Form 8889 and 1099-SA so you can substantiate qualified medical withdrawals years later.

How Granite handles your Form 5498-SA

Drop your 5498-SA into Granite and it reads the form automatically — pulling the trustee name, the Box 2 and Box 3 contribution totals, rollover amount, year-end fair market value, and account type. It files the document into a Tax {year} collection and groups it with your other HSA paperwork, so when you reconcile contribution limits against Form 8889 or pull records for an audit, everything is one search away instead of buried in a custodian's email.

FAQ

Form 5498-SA: common questions

What is a 5498-SA?: Form 5498-SA is an IRS information return your HSA, Archer MSA, or Medicare Advantage MSA custodian files to report the contributions made to your account for the tax year, plus the account's December 31 fair market value. It tracks money going in, not the distributions you spent, which are reported separately on Form 1099-SA.
What's the difference between a 1099-SA and 5498-SA?: Form 5498-SA reports contributions into your HSA or MSA; Form 1099-SA reports distributions out of it. The 5498-SA shows what was deposited and the year-end balance; the 1099-SA shows what you withdrew. Both come from your account custodian, and you may receive both in the same year.
Do I need 5498-SA to file my taxes?: Usually no. Because HSA contributions can be made up to the April deadline, custodians have until May 31 to issue Form 5498-SA, often after you file. You report HSA contributions on Form 8889 using your own records and W-2 (Box 12, code W). Keep the 5498-SA to confirm those figures and as proof you stayed within IRS contribution limits.
Why did I receive a 5498-SA?: You received Form 5498-SA because contributions were made to your HSA, Archer MSA, or Medicare Advantage MSA during the tax year — by you, your employer, or through a rollover. Your account custodian is required to report those contributions to the IRS and send you a matching copy for your records.
Is a 5498-SA tax deductible?: The form itself is not a deduction — it documents contributions. Whether those contributions are deductible depends on how you made them: payroll and employer contributions are already pretax and not separately deductible, while after-tax contributions you make directly (by check, for example) are deductible on Form 8889. Don't attach the 5498-SA to your return; keep it for your records.
How long should I keep Form 5498-SA?: Keep Form 5498-SA at least 7 years. It documents that your HSA contributions stayed under the annual IRS limit, which matters because excess contributions are taxed at 6%. Stored alongside your Form 8889 and 1099-SA, it forms the paper trail proving your contributions and qualified medical withdrawals if the IRS ever asks.

Sources

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