Box 10 covers the amounts you put into a Roth IRA.Box 9 reports the amounts contributed to a Savings Incentive Match Plan for Employees (SIMPLE) IRA while box 8 documents Simplified Employee Pension (SEP) contributions.Box 1 shows the amount you contributed to an IRA.The copy you receive in the mail is for your records.įorm 5498 reports various types of IRA contributions you make and other account information in the reporting boxes of the form. You won't find this form in TurboTax, nor do you file it with your tax return.

Your IRA custodian-not you-is required to file this form with the IRS, usually by May 31.Form 5498: IRA Contributions Information reports to the IRS your IRA contributions for the year along with other information about your IRA account.Depending on the type of IRA you have, you may need Form 5498 to report IRA contribution deductions on your tax return. The institution that manages your IRA is required to report all contributions you make to the account during the tax year on the form.

When you save for retirement with an individual retirement arrangement (IRA), you probably receive a Form 5498 each year.

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