- 4 -
|
Instructions for Participant Box 13a. Shows the amount of a late rollover contribution (more than 60 days after
The information on Form 5498 is submitted to the IRS by the trustee or issuer of your distribution) made in 2024 and certified by the participant, or a postponed contribution
individual retirement arrangement (IRA) to report contributions, including any catch-up made in 2024 for a prior year. This amount is not reported in box 1 or 2.
contributions, rollovers, repayments, required minimum distributions (RMDs), and the Box 13b. Shows the year to which the postponed contribution in box 13a was
fair market value (FMV) of the account. For information about IRAs, including reporting credited. If a late rollover contribution is shown in box 13a, this box will be blank.
rollovers, repayments, and potential deductibility of contributions, see the instructions Box 13c. Shows the applicable code for a postponed contribution amount shown in
for Forms 1040, 1040-SR, and 8606; and Pubs. 560, 590-A, and 590-B. box 13a: FD (due to an extension of the contribution due date because of a federally
Participant’s taxpayer identification number (TIN). For your protection, this form designated disaster), PO (a rollover of a qualified plan loan offset), and SC (the self-
may show only the last four digits of your TIN (SSN, ITIN, ATIN, or EIN). However, the certification procedure for a late rollover contribution).
trustee or issuer has reported your complete TIN to the IRS. For participants who served in designated combat zones, qualified hazardous duty
Account number. May show an account or other unique number the trustee or issuer areas, or direct support areas, the codes are EO13239 for Afghanistan and associated
assigned to distinguish your account. direct support areas, EO12744 for the Arabian Peninsula areas, PL115-97 for the Sinai
Box 1. Shows traditional IRA contributions for 2024 you made in 2024 and through Peninsula of Egypt, and EO13119 (or PL106-21) for the Yugoslavia operations areas.
April 15, 2025. This box does not include amounts in boxes 2–4, 8–10, 13a, and 14a. For additional information, including a list of locations within the designated combat
zones, qualified hazardous duty areas, and direct support areas, see Pub. 3. For
Box 2. Shows rollover contributions, including direct rollover contributions, you made updates to the list of locations, go to www.irs.gov/Newsroom/Combat-Zones.
in 2024 to an IRA (other than conversions done through a rollover contribution from a Box 14a. Shows the amount of any repayment of a distribution related to a qualified
traditional IRA or traditional SIMPLE IRA to a Roth IRA or Roth SIMPLE IRA, which are reservist, qualified disaster, qualified birth or adoption, emergency personal expense,
reported on Box 3). Include a military death gratuity or SGLI payment to a Roth IRA. domestic abuse victim, or terminally ill individual.
Any late rollover contributions are shown in box 13a.
Box 3. Shows the amount converted from traditional IRAs or traditional SIMPLE IRAs Box 14b. Shows the applicable repayment code for the amount shown in box 14a: QR
to Roth IRAs or Roth SIMPLE IRAs in 2024. (qualified reservist), DD (qualified disaster), BA (qualified birth or adoption), EP
(emergency personal expense), DA (domestic abuse victim), or TI (terminally ill
Box 4. Shows amounts recharacterized from transferring any part of the contribution individual).
(plus earnings) from one type of IRA to another. Box 15a. Shows the FMV of the investments in the IRA that are specified in the
Box 5. Shows the FMV of all investments in your account at year end. However, if a categories identified in box 15b.
decedent’s name is shown, the amount reported may be the FMV on the date of Box 15b. The following codes show the type(s) of investments held in your account for
death. If the FMV shown is zero for a decedent, the executor or administrator of the which the FMV is required to be reported in box 15a.
estate may request a date-of-death value from the financial institution.
Box 6. Shows for endowment contracts only the amount allocable to the cost of life A—Stock or other ownership interest in a corporation that is not readily tradable on an
insurance. Subtract this amount from your allowable IRA contribution included in box 1 established securities market.
to compute your IRA deduction. B—Short- or long-term debt obligation that is not traded on an established securities
Box 7. May show the kind of IRA reported on this Form 5498. market.
Boxes 8 and 9. Show SEP (box 8) and SIMPLE (box 9) contributions made in 2024, C—Ownership interest in a limited liability company or similar entity (unless the
including contributions made in 2024 for 2023, but not including contributions made in interest is traded on an established securities market).
2025 for 2024. D—Real estate.
Box 10. Shows Roth IRA contributions (and rollovers from a QTP) you made in 2024 E—Ownership interest in a partnership, trust, or similar entity (unless the interest is
and through April 15, 2025. Do not deduct on your income tax return. traded on an established securities market).
Box 11. If the box is checked, you must take an RMD for 2025. An RMD may be F—Option contract or similar product that is not offered for trade on an established
required even if the box is not checked. If you do not take the RMD for 2025, you are option exchange.
subject to an excise tax on the amount not distributed. G—Other asset that does not have a readily available FMV.
Box 12a.Shows the date by which the RMD amount in box 12b must be distributed to H—More than two types of assets (listed in A through G) are held in this IRA.
avoid the excise tax on the undistributed amount for 2025.
Box 12b.Shows the amount of the RMD for 2025. If box 11 is checked and there is no
amount in this box, the trustee or issuer must provide you the amount or offer to
calculate the amount in a separate statement by January 31, 2025.
|